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Thursday, September 21, 2023

Zoho: The First Billion Dollar Product Company In India

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Batori24 Bureau
Batori24 Bureau
Batori24 is a Vernacular based Assamese news portal based in Guwahati Assam. We are a dedicated news channel covering news and stories across the globe with special reference to Assam, north-east along with National and International news.

Zoho: In the midst of the economic downturn, Chennai-based global technology company Zoho Corporation announced on Tuesday that it has reached $1 billion in annual revenue, thanks to its diverse product portfolio.

According to Sridhar Vembu, CEO and Co-Founder of Zoho, no one in India has built a billion-dollar product company.

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Zoho Corporation, based in Chennai, announced on Tuesday that it will have surpassed $1 billion in revenue by 2021, with its India business growing by 77% year on year (YoY). Encouraged by this, the technology company intends to open 100 points of presence (PoPs) around the world in the next five years.


“We created one product, a modest product, and made a modest profit. We steadily invested in expanding our capabilities. Even our own people would not have believed a few years ago that we could construct all of this. That is the journey of steadily building “Vembu, humbled, said.


“In 2021, we will have surpassed $1 billion in revenue.” India is our fastest-growing market, and the Middle East is close behind. The rate of growth has slowed across the board. The United States is number one, the European Union is number two, and India is closing in on third place for us. Based on the rate of growth, India could be number two in the next 4-5 years and number one in the next ten,” said Sridhar Vembu, CEO and co-founder of Zoho Corp.

Zoho attributes its growth to strong R&D capabilities across categories and markets, its diversified portfolio, and businesses choosing unified offerings over single products.

Zoho provides web-based business tools such as business operating system software, customer relationship management software, human resource management software, an enterprise collaboration platform, and GST-compliant accounting software.


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