Freshworks Founder Girish Mathrubootham Sells Shares Worth $40 Million
- ByStartupStory | December 21, 2024
Freshworks’ founder Ratna Girish Mathrubootham has sold shares worth $40 million on the Nasdaq, according to the company’s filing with the US Securities and Exchange Commission (SEC). The sale took place on December 18 and 19.
On December 18, Mathrubootham sold 8.35 lakh shares amounting to $14 million, while on December 19, he sold 16.6 lakh shares valued at $26 million, the filing states.
Mathrubootham founded Freshworks, a Chennai and US-based SaaS company, 14 years ago. In May this year, he handed over the leadership reins to the company’s President, Dennis Woodside. Despite stepping back from daily operations, Mathrubootham remains the largest individual shareholder with a 4% stake in the company, maintaining significant voting power.
A company spokesperson commented on the development, saying, “As Freshworks’ founder and single largest shareholder, Mathrubootham has had pre-established trading plans, adopted under SEC Rule 10b5-1, to diversify his financial investments since becoming a public company. This sale was planned ahead of time as part of his long-term financial diversification strategy.”
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