Tuesday, November 29, 2022
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Revenue Jump

Zoho Generates $1 Billion In Revenue, Announces New R&D Investments

The Chennai-headquartered unicorn plans to open 100 points-of-presence globally within five years to provide a faster network to its enterprise users

Zoho Generates $1 Billion In Revenue, Announces New R&D Investments
Sridhar Vembu, founder and chief executive officer of Zoho Corporation
Zoho Corporation
POSTED ON November 12, 2022 11:08 PM

Information and Technology (IT) company Zoho crossed the $1 billion annual revenue mark in 2021, with a 77 per cent increase in revenue from India.

In a statement, the company claimed that intense research and development capabilities across product categories were pivotal behind this success. It has also announced new investments to strengthen its R&D capabiliites. 

The Chennai-headquartered unicorn is now planning to open 100 points-of-presence (PoPs) globally within five years to provide a faster network to its enterprise users. Additionally, Zoho is keen to double its investments in technologies like artificial intelligence (AI) and blockchain.

In the Indian market, Zoho One operating system, CRM Plus, EX offering–led by Zoho People human resource management platform, Zoho Workplace enterprise collaboration platform, and its finance suite led by Zoho Books were amongst the top five product lines. 

While addressing the company's performance at its annual user conference, Sridhar Vembu, chief executive officer and co-founder of Zoho Corporation said that the company has always expected technologists to practise more humility. While talking about the global economic downturn, he added, "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." 

In the coming time, Zoho seeks to offer services at affordable prices, Vembu added. 

While the company's performance has been good in 2021, the company has predicted that it will slow down in 2022 following industry and geopolitical headwinds.

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