Zoho Corporation becomes the first bootstrapped SaaS company to reach 100 million users across its 55+ business applications. This achievement comes after the company recently reached 1 billion USD in annual revenue last year.
The company has been increasing its traction from 1 million users in 2008 to now 100 million 15 years later with the last 50 million users added within the past five years. Zoho has grown steadily and responsibly, without ever taking external funding.
Not having to take external funding allows Zoho to preserve its long-term vision and culture without outside pressure or influence. It’s also what keeps the company centered on its values, such as debt-free growth and serving customers closer to where they are – a product of the company’s transnational localism efforts.
“I want to thank all of our customers for trusting us with their business and helping us reach 100 million users worldwide,” said Sridhar Vembu, Co-founder and CEO of Zoho Corp.
“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,” he added.
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. Zoholics is transnational localism in action. Zoho has always believed that being close to customers allows the company to build useful, trusted, customer-focused solutions.