Zoho poised to get unicorn status before 2020

Sridhar Vembu, CEO, Zoho Corp, indicated this after a media blitz, responding to a query on attaining the unicorn status. Given its current pace of growth, the privately-held company could even achieve it ahead of its 2020 timeline, he further revealed. 

Zoho has witnessed a growth of 34-36 per cent over last year. Also, the progress had got accelerated due to newly-launched products, which have shown encouraging results in India market, Vembu said, noting that his company was among the largest growing product firms in India. Hiring nearly 200 to 300 people a month, Zoho is now a 6,000-strong workforce with its Tenkasi facility, facing space crunch and as a result delays in construction.

Attrition, in his words, was well below 10 per cent, that is the lowest as per industry standards.

On cloud integration for SMEs, Vembu said, increasingly newer companies preferred this infrastructure. Earlier, in his presentation, he said 17 out of the top 30 organisations that had adopted ‘Zoho One,’ were based out of India. This reflected the “leapfrog” phase of digital transformation. In its first year, over 12,000 business worldwide were Zoho One customers, of which 36% users were from India. “Zoho One has already replaced more than 650 different products, and that number will only grow as we release even more new apps,” he said. 

Anticipating India to be the largest market for IT and software services in a decade, Vembu said the first $1 trillion firm could well be from the country. “We are bullish about the future,” he said.