#BYMEspresso☕: Behind the future plans of Billion-Dollar Product Company, Zoho.

Sridhar Vembu, CEO and co-founder, Zoho Corp claimed at a press conference that no other company has built a billion dollar product company in India.

Chennai-based tech company Zoho Corp said that its annual revenues surpassed $1 billion in 2021, on Tuesday.

Sridhar Vembu, CEO and co-founder, Zoho Corp claimed at a press conference that no other company has built a billion dollar product company in India.

"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 has helped us so far. We hope to continue to serve our customers by bringing the highest quality offerings at very affordable prices," said Vembu, who c-ofounded the unlisted company.

Vembu said that India has led the growth in revenues. In 2021, its annual revenue in India has increased by 77% in 2021 but still contributes only to 10% of its overall revenues.

Going ahead, the company plans to open 100 network PoPs (points of presence) around the world in the next five years which will provide a faster network to users. 

The company plans to invest more in R&D but intends to keep the hiring of tech talent slow keeping the ongoing economic slowdown in mind. But it will continue to hire in other departments like sales.