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Equity

Freshworks, Toast go public and we have Takes

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 22 September 2021

⏱️ 21 minutes

🧾️ Download transcript

Summary

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. Today we got the gang together -- Natasha and Danny and Alex -- to chat about the most recent IPOs in tech-land, namely debuts from Freshworks and Toast. TechCrunch has covered their pair of firms somewhat closely during their IPO run, as they each have some notable characteristics: Freshworks' IPO provided a fresh window into how public market investors are willing to value growth-oriented software companies out the gate. The news is good. Which means that we could see more unicorns looking to list in coming months. Toast's IPO provided a lens by which we could gauge public-market sentiment for hybrid software-and-payments companies. The answer? That the stock market is pretty dang enthused about the companies in question. So it's a good news day for unicorns, for tech startups, and for Boston, a city that Danny has many thoughts about. Please send him your complaints, and not the show. We take no responsibility. It's Disrupt week, so we'll have more in a few days but until then we'll see you at the event! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:15.7

Hello and welcome back to Equity Tech Runches Venture Capital Focus Podcast, where we unpack the numbers behind the headlines. We are live here Wednesday morning with some IPO news. It is a disrupt day, so we are kind of coming together as a group to chat about some important news before we dive into conference mode. This is Alex, of course. I also have Natasha here. Natasha say hello. Hello. Hello.

0:30.0

Excited to be here. Good. And we also have Mr. Danny Cretin Danny how are you?

0:34.4

I'm doing great we're halfway through Disruptin and Natasha I believe had three panels

0:39.1

yesterday although fortunately for her she actually had breaks between her panels. I have two panels today back to back

0:46.2

You will see me live like wolf blitzer on the situation room you just never get him off the screen ever at disrep

0:52.7

In contrast I have one panel because the way Tech Ranch works is the cooler you are internally,

0:58.5

the more panels you get.

1:00.0

And Natasha is very cool, and so she got many panels.

1:03.1

I'm essentially the custodian, so I got the one panel

1:05.9

that no one else wanted.

1:07.5

But it's the panel that I deserve.

1:10.1

I'm talking about IPOs later,

1:11.4

which is the theme of today's conversation. We have two IPOs that have just happened. They priced last night. We are catching up on the news. It is Freshworks and it is toast. Freshworks is an American-Dash Indian company that works in the customer support and success software space.

1:26.0

Toast is a Boston-based FinTech and software platform aimed at restaurants.

1:30.0

And the talk show, let's start with Fresh Works.

1:32.7

I'm not putting you on the spot, an actual question,

1:35.2

had you heard of the company before a couple weeks ago?

1:37.4

No, I don't think it's a company I really paid much attention to

1:40.0

until you wrote about it, which can often be the case

1:42.8

due to the IPO world and me being a stage reporter.

1:46.2

No, no, and the reason why I asked is I just spoke to the CFO

1:49.5

of Fresh Works and he mentioned that one of the reasons

...

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