FreshWorks lists; valued at $13 billion🤑
Vodafone Idea will survive, Sony To Buy Zee and more.
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Freshworks makes stellar debut on Nasdaq, m-cap crosses $13 Bn🤩
Shares of Freshworks Inc. surged in their trading debut on Nasdaq, reflecting soaring demand. The company’s shares started trading at around $46, a 28% gain over the IPO price of $36.
With the listing under the ‘FRSH’ symbol on the Nasdaq Global Select Market exchange, Freshworks has become the first India-born software-as-a-service firm to trade on a US exchange.
Freshworks has become the most valuable SaaS startup from India, racing ahead of Postman and BrowserStack.
Freshworks helps businesses with customer management, offering products including a messaging platform, an artificial intelligence-powered chatbot for customer support and call-center solutions that promise shorter wait times.
Vodafone Idea will survive, confident of fundraising deal, says CEO⚔
Vodafone Idea is confident it can reach a fundraising deal with potential investors, bolstered by a federal government package that provides much-needed relief to the debt-ridden mobile carrier, its chief executive officer said on Wednesday.
Vodafone Idea, with net debt of ₹1.91 trillion ($25.86 billion) and other government dues of ₹1.68 trillion, had expressed repeated concerns about its ability to stay afloat without federal help.
India's telecoms sector ran into trouble in late 2016 with the entry of tycoon billionaire Mukesh Ambani's Reliance Jio, which sparked a price war that forced some rivals out of the market.
"There should be no doubt that... Vodafone Idea will exist, we will compete, we will survive, we will thrive," said Takkar.
Hot Shorts⚡
ZestMoney, an Indian ‘buy now, pay later’ platform, has raised $50 million from Australian peer Zip Co. Ltd as part of its Series C funding round.
Lio, an IT startup, raised around Rs 37 crore in a seed funding round led by Sequoia Capital India and Lightspeed India.
Mphasis, an IT solutions company, has acquired Blink UX, a user experience research, strategy, and design firm, for about $94 million in an all-cash deal.
Sony Pictures India To Buy Zee Entertainment🤝🏻
Zee Entertainment signed a merger deal with Sony Pictures Networks India Private Limited, according to a regulatory filing by the media company to the stock exchanges on Wednesday, September 22.
Zee Entertainment will hold a 47.07% stake, while Sony India will hold a majority stake of 52.93% in the merged company, according to the statement.
Zee Entertainment Enterprises (ZEEL) shares surged over 30% in Wednesday's deals after the media and entertainment giant announced that its board has given an in-principle nod for merger with Sony Pictures Network India (SPNI).
Tweet of the day🐥
✅ Mumbai court restrains Unacademy from using its PrepLadder app.
✅ Jhunjhunwala makes ₹67 cr gain on 50 lakh Zee Entertainment shares in 6 days.
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