Zoho Achieves Milestone: First Bootstrapped SaaS Company with Over 100 Million Users

• ByStartupStory     |    September 6, 2023

Zoho, the global technology company headquartered in Chennai, announced a significant achievement on Tuesday as it surpassed 100 million users across its portfolio of 55+ business applications. This remarkable feat establishes Zoho as the first bootstrapped Software-as-a-Service (SaaS) company to reach such a milestone. Notably, this accomplishment follows Zoho’s achievement of $1 billion in annual revenue last year.

Zoho’s journey has been characterized by consistent growth, evolving from one million users in 2008 to an impressive 100 million users over the span of 15 years, with the most recent 50 million users joining within the past five years. The company expressed its deep appreciation for the unwavering support of more than 700,000 businesses spanning across 150+ countries. The Indian market has been particularly noteworthy, experiencing a three-year Compound Annual Growth Rate (CAGR) of 65 percent in the upmarket segment.

Sridhar Vembu, Co-founder and CEO of Zoho Corp., shared his thoughts on this remarkable achievement, stating, “This is an impressive milestone for any organization, but it’s particularly sweet for us as a bootstrapped company that has never raised external capital. And we are not done yet. We have an impressive innovation pipeline covering the next 10 years and are investing in deep technologies to serve billions of users around the world. We are working towards it, and we want to thank all of you for your continued support.”

Zoho’s growth trajectory has been marked by responsible and sustainable expansion without the reliance on external funding. This approach has allowed the company to maintain its long-term vision and preserve its unique culture, free from external pressures or influences. It also enables Zoho to stay true to its core values, including debt-free growth and a commitment to serving customers with proximity, aligning with its transnational localism initiatives, as outlined in the release.

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