Information Technology and cloud-based services provider Zoho Corporation, on Tuesday, said it has crossed the $1-billion revenue mark in 2021, with its India business growing 77 per cent on year-over-year (YoY) basis. The tech company added that India business has the potential to become the No 1 in the next 10 years.

“We have crossed $1 billion in revenue in 2021. Our fastest growing market is India and close to it is West Asia. Across the board growth rate has come down. The US is No 1 and the European Union is No 2 and India is approaching No 3...India can be No 2 in the next four to five years and No 1 in 10 years, based on the growth rate at which it is growing,” Sridhar Vembu, Chief Executive Officer and Co-founder, Zoho, said on the sidelines of an event here.

Zoho, which spends three times its marketing spend on research and development (R&D) and received 25 patents in the last three years, said it is witnessing increased adoption from mid- and large-sized businesses as well in India.

Speaking at ‘Zoholics India’, the company’s annual user conference, Vembu said Zoho has business in more than 150 countries, and has built a user base of over 80 million in the last 25 years of operations.

Headquartered in Chennai, Zoho provides operating system software for businesses, software for customer relationship management, human resource management, enterprise collaboration platform, and GST-compliant accounting software.

Vembu announced that the company plans to open 100 network point of presence (PoPs) around the world in the next five years for providing users with faster network, and also double investment for technologies such as blockchain and artificial intelligence.

Zoho runs its own data centers — at present it has 12 around the world, including two in India. It has around 14 network PoPs that run its proprietary software. It also has over 150 monitoring PoPs that enable users to monitor functioning of their websites.

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