Indian multinational technology company Zoho Corporation announced hitting $1 billion in annual revenue, with an increase of 77% in 2021.
“We hope to continue to serve our customers by bringing the highest quality offerings at very affordable prices,” said Zoho CEO.
Sridhar Vembu, CEO and Co-founder of Zoho, said that no one had built a billion-dollar product company in India.
“We built one product, a modest product, and we got some modest profit. We invested in building more capabilities steadily. Even our people would not have believed that we could build all these years ago. That is the journey of building steadily,” said Vembu.
“If you ask any of our senior managers who have been with us throughout our journey, they will not believe that we will be a billion-dollar company because nobody has built a billion-dollar product company in India. They didn’t even know it was possible. So we had to go about it slowly and steadily,” Vembu told IANS.
The company also plans to open 100 network PoPs (point of presence) worldwide in the following five years.
This move will facilitate users with faster networks and double investment in technologies such as AI (artificial intelligence) and blockchain.
Zoho, which spends 3x of its marketing spend on Research & Development and has received 25 patents in the previous three years, attributes its development to solid R&D across categories and markets and its diversified portfolio.
Along with Zoho One, the company stated that the HR management platform Zoho People, customer experience platform CRM Plus, enterprise collaboration platform Zoho Workplace and GST-compliant accounting software Zoho Books were gaining the most traction in India.
These products boosted the company’s annual revenue in India by 77% in 2021.