According to media reports, Girish Mathrubootham, co-founder and executive chairman of Nasdaq-listed SaaS firm Freshworks, sold about 2.5 million Class A common stock offers worth around USD 39.6 million. The exchanges happened this week at a normal cost run of USD 15.33 to USD 16.50 per share. 

The deals come amid noteworthy changes at Freshworks. In February 2024, the company’s board canceled Mathrubootham's CEO Execution Grant of six million stock units from 2022, citing revised performance targets due to macroeconomic challenges. In any case, he was allowed a new equity motivating force grant esteemed at USD 19 million. Around the same period, Mathrubootham stripped offers worth USD 9.6 million, concurring to media reports. 

In May 2024, Freshworksexperienced a major administration reshuffle, transitioning Mathrubootham to the part of official chairman whereas designating Dennis Woodside as CEO. The company has since centered on streamlining operations, counting workforce layoffs and a USD 400 million share buyback program, as per media reports. 

Freshworks detailed USD 186 million in income for Q3 2024, checking a 22 percent year-over-year development. The firm’s net misfortune decreased to USD 25.9 million compared to USD 31.03 million in the same quarter final year. Income direction for 2024 has been changed upwards to USD 713.6 million–USD 716.6 million, concurring to media reports.