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News on Medial
‘If you are not adapting to AI, throw away your roadmap’: Freshworks’ Girish Mathrubootham
YourStory
·
5m ago
Medial
Girish Mathrubootham, Founder of Freshworks, emphasized the need for SaaS companies to revamp their strategies to incorporate AI during his keynote at SaaSBoomi 2025. He advised abandoning outdated human-centric roadmaps in favor of new plans catering to a future where AI and humans coexist. Mathrubootham highlighted AI as a major opportunity and catalyst for India's growth as a "product nation," urging companies to adopt AI-driven solutions for greater scalability, especially in vertical AI SaaS markets.
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Altman's challenge accepted: Freshworks CEO on making AI in India
Money Control
·
1y ago
Medial
Freshworks CEO Girish Mathrubootham, while launching entrepreneurship support program 'Together AI Studio', said, "I think we can surely say OpenAI CEO Sam Altman's challenge is accepted." The fund will invest between $500,000 to $5 million in startups, depending on their business' stage. "Building AI is a possibility from India and new-age startups in AI...are very promising," Mathrubootham said.
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Freshworks: Girish Mathrubootham hands CEO reins to Dennis Woodside
The Arc Web
·
1y ago
Medial
Freshworks founder and CEO, Girish Mathrubootham, is transitioning to the role of Executive Chairman, while current President, Dennis Woodside, has been named the new CEO. The announcement was made after market hours, leading to a 25% drop in Freshworks' share price in the aftermarket. The change allows Mathrubootham to focus more on product teams and customers, while remaining involved in strategic decisions. Freshworks also recently announced its acquisition of Device42 for $230 million in cash, expanding its IT services management business.
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Freshworks Buys Device42 For $230 Mn Amid Top-Level Rejigs
Inc42
·
1y ago
Medial
Freshworks, a Nasdaq-listed SaaS company, is set to acquire Device42 for $230 million. The deal includes $215 million in cash and a $15 million equity rollover. Device42 provides tech support for IT compliance, audit, and asset management. Freshworks recently reported a 45.3% decline in net loss for Q1 2024 but experienced a 20% increase in total revenue. In terms of leadership, CEO Girish Mathrubootham will step down, with President Dennis Woodside taking over on May 1. Mathrubootham will become executive chairman, focusing on product vision, innovation, and AI strategy.
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Freshworks' board reworks CEO Girish Mathrubootham’s stock award
Economic Times
·
1y ago
Medial
Software service provider Freshworks has canceled the performance-based stock award of 6 million shares to its founder and CEO, Girish Mathrubootham. The decision was made due to macroeconomic challenges affecting the company's stock price. While his original stock award has been canceled, Mathrubootham has been allotted stock awards valued at $19 million. Additionally, stock awards have been approved for Freshworks' other executives, including president Dennis Woodside, CFO Tyler Sloat, and CPO Srinivasagopalan Ramamurthy.
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Girish Mathrubootham sells $40 million worth of Freshworks stock
Economic Times
·
8m ago
Medial
Freshworks founder Girish Mathrubootham has sold shares in the software-as-a-service (SaaS) company totaling nearly $40 million. Mathrubootham, who recently stepped down as CEO, sold a total of 2.5 million shares in December. He currently owns around 5% stake in the company and serves as the chairman of the board of directors. In 2021, Mathrubootham launched a venture fund with a focus on backing early-stage software startups in India. Freshworks, founded in 2010, targets small and medium businesses with its CRM software and serves over 68,000 customers.
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Freshworks' CPO Prakash Ramamurthy resigns after 5 years
Inshorts
·
1y ago
Medial
Freshworks' Chief Product Officer Prakash Ramamurthy has resigned after working with the software company for nearly five years. He will remain in his role till October 1, following which he will provide advisory assistance to Freshworks through the end of the year, a filing stated. His resignation comes months after CEO Girish Mathrubootham stepped down from his role.
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Freshworks hires ex-Dropbox exec as CEO, founder Mathrubootham to be chairman
VCCircle
·
1y ago
Medial
CRM software maker Freshworks has appointed Dennis Woodside as its new CEO, with founder Girish Mathrubootham becoming the executive chairman. Woodside, who previously held leadership positions at Impossible Foods, Dropbox, and Motorola Mobility, joined Freshworks in 2022 as president. The company's shares fell by around 21% following the announcement. Freshworks, which went public on Nasdaq in 2021, has forecast second quarter revenue between $168 million and $170 million, below market estimates.
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Together eyes final close of Fund-II by June to up AI play
Economic Times
·
6m ago
Medial
Together Fund, led by Freshworks' Girish Mathrubootham and Eka Software's Manav Garg, aims to finalize its $150-million Fund-II by June, focusing on AI companies. With 31 investments already, they plan to support an additional 19-20 startups. Emphasizing India's potential in AI applications, the fund has expanded its portfolio and team, including Lakshmi Shankar from Google. Despite slow investment activity, company formations in India's AI sector continue robustly.
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Together Fund leads $2.6-million round in AI research startup Gibran - The Economic Times
Economic Times
·
1m ago
Medial
Gibran, an AI research startup, has raised $2.6 million in seed funding from Together Fund, co-founded by Freshworks’ Girish Mathrubootham and Eka Software’s Manav Garg. The funds will support the development of AI models using small datasets, focusing primarily on drug discovery. The startup aims to create creative co-pilots and lifelong learning agents for various industries. The team includes former Curio founders, a biologist, and an AI researcher, with results anticipated by December 2025.
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Peak XV Partners sells about 1% stake in Freshworks for $51.5M
YourStory
·
6m ago
Medial
Venture capital firm Peak XV Partners sold about a 1% stake in SaaS company Freshworks, reducing its holding to 3.9%. The sale involved 2.93 million shares, amounting to $51.5 million. Freshworks founder Girish Mathrubootham also sold shares worth $39 million in December. Peak XV, initially investing $80 million since 2016, made the sale amid slowed growth-stage funding. The firm recently cut its largest fund and is returning $465 million to its limited partners.
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