Get All Access for $5/mo

Months after Clinching the Unicorn Status, Is This SaaS Startup Heading Towards an IPO? According to a media report the year 2019 will be spent in readying the startup for an IPO

By Bhavya Kaushal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

SaaS is the flavor of the year. India saw several unicorns this year including BigBasket, Delhivery, Icertis, Dream 11 and Druva emerge as the new big guns of the Indian start-up ecosystem. Recently, reports were rife that Girish Mathrubootham, founder and CEO of Freshworks, is planning to take his company public. Entrepreneur India reported that Indian SaaS unicorn Freshworks might be heading towards an IPO as early as 2021.

While there is yet to get a confirmation for this, it is being reported that Druva could be, apparently, the second SaaS startup that could head for an IPO. According to a media report, Milind Borate, Co-founder and CTO of Druva, has said that 2019 will be spent in preparing the startup for an IPO. The report also said that the listing is likely to happen in USA.

The 11-Year-Old Journey

It took 11 years for Druva to become a unicorn and establish itself as an important SaaS startup in the Indian startup ecosystem. It entered the famed unicorn club after it raised US$130 million in a new round led by Viking Global Investors a few months ago.

Founded in 2008 by Jaspreet Singh, Druva claims to help customers reduce costs by up to 50 per cent by freeing them from unnecessary hardware, capacity planning, and software management. Druva has more than 4,000 enterprise customers including Flex, Hitachi, Live Nation, Marriott, and Pfizer.

Is IPO the Next Goal for Startups?

While IPO seems to be the logical conclusion for most of the companies, there are many startups which have chosen the route otherwise.

Indian unicorns like Swiggy, Zomato, Paytm are yet to go public or they may choose to not go at all. Companies go public primarily to unlock their own valuation. Going public could mean coming under the lense of a watchdog such as Securities and Exchange Board of India (SEBI) or NASDAQ in the US or some other listing body anywhere in the world.

Going public also means that the company's X, Y or Zper cent capital will come from the shares that are sold publicly and it will not have to worry about capital or pressure from investors.

Bhavya Kaushal

Former Features Writer

I am a work-in-progress writer and human being. An English graduate from Delhi University, writing is my passion and currently, I was Entrepreneur India's start-up reporter. I love covering start-ups and weaving their stories into unforgettable tales with the power of ink! 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

Science & Technology

5 Automation Strategies Every Small Business Should Follow

It's time we make IT automation work for us: streamline processes, boost efficiency and drive growth with the right tools and strategy.

News and Trends

Aadhaar-Driven Financial Inclusion: Catalyzing Regional Economic Growth in Rural India

The emergence of digital tools such as the Aadhaar-enabled Payment System (AePS), which uses the biometric-based Aadhaar identity system for cash transfers and regular banking tasks, has become a tool to bridge the gap and improve financial inclusion