Zoho announces increased R&D expenditures and surpasses $1 billion in revenue
- ByStartupStory | November 9, 2022
Zoho Corporation, based in Chennai, announced plans on Tuesday to establish 100 network PoPs (points of presence) throughout the world over the next five years to provide consumers with a speedier network. It also intends to increase its investments in technologies such as blockchain and artificial intelligence (artificial intelligence). The company’s sales have topped $1 billion, with India leading the way with regional yearly revenue expanding by 77% by 2021.
Zoho owes its success to excellent R&D skills across categories and markets, its varied portfolio, and companies selecting unified offers over single products.
“At Zoho, we have always believed that technologists should practice more humility,” said Sridhar Vembu, CEO and Co-founder, of Zoho Corp at the company’s annual user conference in Delhi. “After all, we cannot code more food nor compile new energy. Unfortunately, recent developments in our industry amidst a backdrop of rapidly deteriorating global economic outlook, are a rude reminder of our own limits as technologists.” “Fundamentals matter now more than ever, and our industry has to learn to lower the friction of technology so that technology becomes far more affordable,” added Sridhar.
The company is seeing product adoption across multiple categories, with the top five offerings in India being Zoho One (the business operating system), CRM Plus (customer experience platform), EX offering—led by Zoho People (human resource management platform), Zoho Workplace (enterprise collaboration platform), and Zoho Books (finance suite) (GST-compliant accounting software).
“We have also crossed an important milestone of $1 billion in annual revenue. While growth has slowed down quite a bit in 2022 over 2021, our diversified product portfolio and the fact that we save money for customers have helped us so far. We hope to continue to serve our customers by bringing the highest quality offerings at very affordable prices,” Sridhar said.
Zoho created its technological stack from the ground up, from apps and platforms to networks and data centers, horizontally, vertically, and contextually harmonized. Apart from product development, Zoho focuses on creating fundamental R&D skills in order to provide unique value and user experience throughout the tech stack.
“We are also working on adding Indian language support for our AI and blockchain technology for universal validation. Our focus will be on technologies that businesses–regardless of their size and location–will be able to use securely,” added Sridhar.
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