Zoho Corp., the Chennai-based tech company will continue to invest significantly in research and development (R&D) but go slow as far as tech hiring is concerned. The Company clarified that it hasn’t imposed a hiring freeze, but only intends to slow down hiring till market conditions and economies improve.
The Indian software-as-a-service company may hire more than 1,000 employees over a period of a year as per a report by Money Control.
The Company’s annual revenues have crossed the one billion dollar mark last year.
Sridhar Vembu, CEO and co-founder, Zoho Corp. admits that growth has slowed amidst the given economic conditions across the world. While revenues in India increased by 77 per cent in 2021, they only accounted for 10 per cent of overall revenues. The EU and US markets have contributed about 30 and 40 per cent, respectively.
The Company intends to launch 100 network points of presence or PoPs, globally by 2027, to ensure that users enjoy faster network. Presently, its more than 150 monitoring PoPs are helping clients monitor their website operations.
Zoho invests more on R&D than on marketing. In fact, R&D is where the Company spends the maximum.
Going forward, Zoho will increase its investment in blockchain, artificial intelligence (AI), statistical machine learning, computer vision and natural language processing (NLP) among other things.
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