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Zoho hits 100m mark

The Indian-based software-as-a-service company has reached the mark despite never raising external capital.

Zoho Corporation, the global productivity software company founded in India, has announced that it is now serving 100-million users across more than 55 business applications. It has never raised external capital, meaning that Zoho is the first “bootstrapped” SaaS company to reach this milestone. This growth comes on the heels of the company reaching US$1-billion in annual revenue last year. 

Zoho has steadily increased its traction from 1-million users in 2008 to 100-million 15 years later—with the last 50-million users added within the past five years. More than 700,000 business across more than 150 countries use Zoho products. It calls its strategy transnational localism, stressing its local adaptability on a global scale.

Sridhar Vembu, co-founder and CEO of Zoho, says: “This is an impressive milestone for any organisation, 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, investing in deep technologies to serve billions of users around the world. We’re working towards it, and we want to thank all of you for your continued support.” 

After completing 13 Zoholics (user conference) in the first half of the year, which included Zoholics Kenya, the company will host 18 Zoholics across 16 countries in the next 8 weeks, totaling 31 user events across 27 countries in 2023. 

In Africa, Zoho will host Zoholics Egypt in October and Zoholics Nigeria is set to take place in November. Zoholics South Africa was held in August in Johannesburg, Durban, and Cape Town.

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