Freshworks’ founder Girish Mathrubootham made headlines recently after selling shares worth $40 million on the Nasdaq. The sale, which took place on December 18 and 19, was disclosed in a filing with the US Securities and Exchange Commission.
Mathrubootham sold a total of 24.95 lakh shares over the two days, with 8.35 lakh shares worth $14 million being sold on the first day and 16.6 lakh shares worth $26 million on the second day.
The founder, who started the Chennai/US-based SaaS company 14 years ago, handed over the reins to President Dennis Woodside in May. Despite stepping down from his role, Mathrubootham remains the largest individual shareholder of Freshworks with roughly 4% ownership and high voting power.
The sale of shares was part of a pre-established trading plan adopted under SEC Rule 10b5-1, aimed at diversifying Mathrubootham’s financial investments since Freshworks became a public company. This move was planned ahead of time as part of his long-term financial diversification strategy.
Freshworks, a leading player in the SaaS industry, continues to thrive under new leadership while Mathrubootham focuses on his financial interests and strategies for the future.
