secretstalks
Girish Mathrubootham, the founder and executive chairman of Freshworks, has stated that he supports founders who use secondary share sales to fund critical personal expenses and concentrate on developing and expanding their businesses.
“The majority of us have middle-class origins. Life has not given us enough money. Therefore, we consider it a terrific result when someone offers to buy you (our stake) for $5 million or $25 million for the first time. The adversary is that.
“”I’m an advocate for entrepreneurs to take some money from secondaries while their firm is scaling; they should take some money to take care of pressing personal issues like home loans, etc., so that their minds are free to hit out big,” Mathrubootham stated.
He was speaking on August 9 at the Moneycontrol Startup Conclave in Bengaluru during a panel discussion with Mithun Sacheti, the former CEO and founder of CaratLane. In a discussion led by Moneycontrol deputy executive editor Chandra R. Srikanth, they were talking about “Chennai Super Kings: Building, Scaling, and Stepping Back: The Founder’s Arc.”
The habit of founders selling their interests in secondaries has caused a rift between investors and founders in a number of new-age companies.
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