How Zoho became $1B company without an external investment
The Now turned multibillion-dollar company Zoho made it to the international headlines when it touched the $1 billion mark on its revenue.
It comes to our notice that Zoho made this fortune of money without even considering the external investments, which means the company made its fortune single-handedly. The traditional startup fever dream goes something like this.
The company had come up with a revolutionary idea for a start which rode her to think of Sand Hill Road. These ideas can turn anyone into their favorite more importantly, Vcs could be interested.
They will invest in your dream project, and eventually, your company will grow. You can grow much more quickly than expected, only to become a valued $1 company in front of the public and investors.
Now that is more or less a daydream you can think of. But if I told you, you can grow into a $1 billion company without anyone investing in your company. Your ideas grow more prosperous by implementing your best ideas and marketing techniques.
The ability to think and grow rich can turn you entirely into a $1 Billion company. Well, we are not kidding. Look at the prime example of Zoho, a company with so much innovation, passion, and a dedicated workforce with a broad set of front- and back-end business software, which has defied that growth and investment stereotype to great success.
Zoho has reported that it made a whopping $1 Billion last year. Being a private entity, it did not reveal exact numbers. But the company seems to have received no support from external investments, which was indeed a remarkable achievement last year.
Zoho has built a strong internal culture and put its heart and soul into R&D and product development. The company, from then onwards, has taken little to no support growing slowly and steadily without considering the slightest investment from external sources.
Zoho’s product catalog includes more than 50 products that cover everything from an office suite to finance, business intelligence sales, marketing, customer service, and a myriad of other categories of software to mention here.
Using a freemium model boosts its software. It competes against giants such as Salesforce, Google, Microsoft, and Oracle but has found ways to prosper even in an intensely competitive landscape.
I spoke with the CEO and founder Sridhar Vembu and some experts from the industry to get a clear idea of how Zoho expanded in its way and how the “little engine that could” continues to grow.
Inspired from: techcrunch