FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* MERITECH CAPITAL PARTNERS LP (Last) (First) (Middle) 285 HAMILTON AVENUE, SUITE 200 (Street) PALO ALTO CA 94301 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 09/13/2004	3. Issuer Name and Ticker or Trading Symbol PeopleSupport, Inc. [ NONE ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	238,817	D(1)
Common Stock	3,883	D(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series D Preferred Stock	(3)	(4)	Common Stock	1,257,877	(5)	D(1)
Series D Preferred Stock	(3)	(4)	Common Stock	20,453	(5)	D(2)

1. Name and Address of Reporting Person* MERITECH CAPITAL PARTNERS LP (Last) (First) (Middle) 285 HAMILTON AVENUE, SUITE 200 (Street) PALO ALTO CA 94301 (City) (State) (Zip)

1. Name and Address of Reporting Person* MERITECH CAPITAL AFFILIATES LP (Last) (First) (Middle) (Street) (City) (State) (Zip)

1. Name and Address of Reporting Person* MERITECH CAPITAL ASSOCIATES LLC (Last) (First) (Middle) 90 MIDDLEFIELD ROAD SUITE 201 (Street) MENLO PARK CA 94025 (City) (State) (Zip)

1. Name and Address of Reporting Person* Meritech Management Associates L.L.C. (Last) (First) (Middle) 285 HAMILTON AVE., STE. 200 (Street) PALO ALTO CA 94301 (City) (State) (Zip)

1. Name and Address of Reporting Person* MADERA PAUL S (Last) (First) (Middle) (Street) (City) (State) (Zip)

1. Name and Address of Reporting Person* GORDON MICHAEL B (Last) (First) (Middle) (Street) (City) (State) (Zip)

Explanation of Responses:

1. Shares are owned directly by Meritech Capital Partners L.P. ("MCP"). Meritech Capital Associates L.L.C., the general partner of MCP, Meritech Management Associates L.L.C. ("MMA"), one of its managing members, and Paul Madera and Michael Gordon, the managing members of MMA, may be deemed beneficial owners of the reported shares but each disclaims beneficial ownershp in the shares held by MCP and MCA except to the extent of any pecuniary interest therein.

2. Shares are owned directly by Meritech Capital Affiliates L.P. ("MCA"). Meritech Capital Associates L.L.C., the general partner of MCA, MMA, one of its managing members, and Paul Madera and Michael Gordon, the managing members of MMA, may be deemed beneficial owners of the reported shares but each disclaims beneficial ownershp in the shares held by MCP and MCA except to the extent of any pecuniary interest therein.

3. Each share of Series D shall be automatically converted into one share of Common Stock upon the closing of the Issuer's initial public offering to occur at a later date and has no expiration date.

4. Not applicable.

5. 1-to-1

Remarks:

Paul S. Madera, in his individual capacity, and on behalf of Meritech Capital Partners, L.P., Meritech Capital Affiliates L.L.C., Meritech Capital Associates L.L.C. and Meritech Management Associates L.L.C in his capacity as a managing member of MMA.

	Paul S. Madera	09/13/2004
	** Signature of Reporting Person	Date
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