Sridhar Vembu
CEO, Zoho CorporationBirth Details1968 | Thanjavur, Tamil Nadu
NationalityIndian
LeagueEntrepreneur
EducationB.Tech in Electrical Engineering, IIT Madras; PhD in Electrical Engineering, Princeton University
Net Worth$2.44 billion (As of October 7, 2020)
Sridhar Vembu's Assets:
Sridhar Vembu's Journey so far ...
Before you go ...
- Zoho Corp.
Sridhar Vembu's Journey so far ...
- After completing his doctoral studies from Princeton, Sridhar Vembu was offered a job as a lecturer
- But, realising that his interest was not in research but practical implementation, he decided to take up a job at Qualcomm as a wireless systems engineer
- During the 1990s, the software ecosystem in India was still in its nascent stage with a large pool of software engineers but not enough software products. So, Vembu decided to tap the market
- He quit Qualcomm a couple of years later, and in 1996, partnered with two of his siblings and three friends to form AdventNet Inc.
- He became the CEO of the company in 2000
- He was quick to recognise the potential of software as a service (SaaS) and in 2005, his company began developing SaaS-based solutions. The move marked the inception of Zoho
- After being unable to attract top talents from reputed universities, Vembu established Zoho University in 2005. Here, high school (Class 12) graduates from underprivileged backgrounds were taught computer programming and upon successful completion of the course, were offered jobs at Zoho
- By 2008, the company had a user base of over 1 million
- The company was renamed as Zoho Corporation in May 2009
- Today, Zoho has nearly 40 applications in its suite which allow businesses to manage everything from sales & marketing to accounting & customer support. One among their USPs is that the cloud-based software suite is offered at very competitive prices
- The company’s largest customer base is in the US followed by the European Union (EU) and India
- With R&D and innovation being its primary focus, the company currently has more than 50 million users globally, and Vembu owns around 88% stake in the company
Before you go ...
- Vembu never believed in raising money from venture capitalists or through an IPO and his company, till date, is completely bootstrapped
- In a bid to curb the trend of people migrating from villages to cities in search of job opportunities, Vembu moved from San Francisco to Mathalamparai -- a village in the district Tenkasi, around 650 km from Chennai -- in October 2019 and works out of a rural office set up by his company in the village
- His company has two rural offices with nearly 500 people working out of those outfits
Last Updated: 29/05/2021
Sridhar Vembu News
- Paytm market cap nears $2.5 billion as shares continue to tumbleWhen it was listed on the public bourses in 2021, Paytm was valued at nearly $20 billion.
- Paytm stock slides after COO exit; India’s first microcontroller chipShares of Paytm parent One 97 Communications fell 5% on Monday after its president and chief operating officer Bhavesh Gupta resigned. More on this in today’s ETtech Top 5.
- Paytm Money CEO Varun Sridhar steps down; Rakesh Singh appointed as chief executivePaytm Money, the wealth management platform of One 97 Communication, has replaced chief executive Varun Sridhar, at the helm since 2020, with Rakesh Singh. Singh was the chief executive of broking services at Fisdom, a PayU-backed fintech. Sridhar will be moved to a different role within the Paytm group.
- Billionaire Zoho CEO Sridhar Vembu, one of the richest Indians, now owns an electric three-wheelerZoho CEO Sridhar Vembu showcases his new electric three-wheeler, Montra, lauding its features and practicality. With a net worth of $3.75 billion, he prefers it for shorter trips over his Tata Nexon EV.
- Here's why Sridhar Sivaram is bullish on power sectorSo, what will happen is the entire ecosystem will benefit. One will have to investigate which one does well. But I think if we are going to add so much capacity, it takes me back to 2003 to 2007 period, when this entire ecosystem did very well.
- Valuations of PSU Banks still very supportive: Sridhar SivaramI do not think there is a debate on the credit quality of banks in general. Provision numbers are very good. Bank balance sheets looks good. And for whatever reason the credit cost has been very moderate even on the retail side.
- IPO-bound Perfios appoints Adobe India BFSI head Sridhar Narayan as CBOPerfios, led by Sridhar Narayan, prepares for a domestic IPO by 2025. The fintech startup focuses on international growth, revenue diversification, and leadership team strengthening, aiming for global expansion and operational excellence.
- 'Join Congress, INDIA bloc if you want to safeguard democracy..' says Telangana's IT MinisterTelangana's IT Minister, Sridhar Babu Duddilla, made a fervent plea to the people of the state, stating that if they want to safeguard the democracy, please join the Congress and the INDI bloc.
- 'Product validation, certification centres to push electronics making'Task force plans validation centers for startups and MSMEs to meet global standards. Global certification agencies may establish units in India for feedback. Committee includes industry executives and government officials.
- Apollo names Madhu Sasidhar as CEO of hospital divisionPrior to joining Apollo, Dr Madhu held various roles at Cleveland Clinic, including president of Cleveland Clinic Tradition Hospital. He is a practicing physician with US board certifications in internal medicine, as well as pulmonary and critical care medicine. He completed his medical education at JIPMER, Pondicherry, and pursued further studies in Internal Medicine at St Luke’s-Roosevelt Hospital in New York City.
- Snowflake partners with Nvidia to launch full-stack AI platformWith this partnership, the companies aim to combine their data storage and processing abilities to speed up AI development for businesses across industries.
- Tata chip unit gets Cabinet nod; Sridhar Ramaswamy named Snowflake CEOThe Rs 91,000-crore project will be set up in Gujarat’s Dholera district in partnership with Taiwanese Powerchip Semiconductor Manufacturing Corp (PSMC), Union communications and IT minister Ashwini Vaishnaw told a press briefing on Thursday.
- Snowflake appoints IIT alumnus Sridhar Ramaswamy as CEOSridhar Ramaswamy, former AI lead at Snowflake, becomes CEO, succeeding Frank Slootman. Snowflake reports Q4 revenue of $775m, FY24 revenue of $2.8b, and FY25 Q1 target of $745-$750m. Stock drops 20% following CEO announcement.
- Vijay Shekhar Sharma resigns as Paytm Payments Bank Chairman; bank's board reconstitutedOne 97 Communication, the parent company of fintech Paytm, informed the exchanges that founder Vijay Shekhar Sharma has resigned from the board of Paytm Payments Bank (PPBL). Srinivasan Sridhar, former chairman of Central Bank of India, retired IAS officer Debendranath Sarangi, former executive director of Bank of Baroda Ashok Kumar Garg, and retired IAS Rajni Sekhri Sibal have joined the board as independent directors. Vijay Shekhar Sharma resigns as Paytm Payments Bank Chairman; bank's board reconstituted
- Bristol Myers Squibb opens innovation hub in HyderabadBristol Myers Squibb (BMS) has opened an innovation hub in Hyderabad, India, to expand its global drug development, information technology, and digital capabilities. The facility, expected to house over 1,500 employees, represents an investment of over $100 million. BMS aims to accelerate drug development, enhance digital capabilities, and diversify its global workforce by tapping into local talent in Hyderabad.
- ICICI Prudential Mutual Fund launches Nifty LargeMidcap 250 Index FundThe new fund offer or NFO of the scheme is open for subscription and will close on March 7. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment.
- RenewSys to set up PV modules, PV Cell manufacturing units in TelanganaRenewSys India currently has three manufacturing plants in the country - including Hyderabad and Bengaluru, with the factory in Hyderabad being the company's largest integrated facility.
- Zoho reports Rs 8,703 crore revenue in FY23, profit crosses Rs 2,800 croreGlobal software-as-a-service (SaaS) company Zoho has reported consolidated revenue of Rs 8,703 crore in the financial year 2023 (FY23), up nearly 30 per cent (year-on-year).
- Zoho CEO Sridhar Vembu joins Ayodhya's Ram Mandir inauguration, expresses gratitude over invitationZoho CEO Sridhar Vembu attends Ayodhya's Ram Temple inauguration, expressing gratitude alongside his family. The ceremony, graced by prominent figures including OYO CEO Ritesh Agarwal, marks a historic day as Prime Minister Narendra Modi oversees the consecration of Ram Lalla. The temple, an architectural marvel, witnesses participation from cricket and Bollywood stars. As the nation celebrates, stringent security measures are in place, and several states declare holidays. The event blends spirituality, business, and culture in a momentous occasion.
- I remain bearish on IT, expect EMS to boom: Sridhar SivaramSridhar Sivaram says: “EMS as a space, whether it is China/Europe plus one or not, is going to boom anyway, because the electronic component in our daily lives is significantly going up. Having said that these stocks have rallied a lot, their earnings will also grow; it may not be structural, but it may not be like every quarter it will grow. So you will see surprises here. Those are the opportunities to buy.”
- Sridhar Sivaram says FII flows we are expecting may not materialise. Here's whySridhar Sivaram says: “We will see manufacturing as the next big theme for India like what happened to auto ancillary. 20 years back, we were just an assembly unit in India. And today, 95% is manufactured within India. The sceptics say that, oh, this is just an assembly unit, not more than 10%. But that is changing. Maybe in the next three years, we will go to 30% manufactured or value added in India.”
- Telangana CM Revanth Reddy announces Rs 5 lakh accident insurance policy for gig workers, cab, auto driversTelangana Chief Minister A Revanth Reddy has announced that the state government will provide Rs 5 lakh accident insurance to gig workers, including those involved in food delivery, cab driving, and auto-rickshaws. Additionally, the government will offer Rs 10 lakh health cover under the Rajiv Arogyasri scheme for gig workers. The chief minister assured workers in the unorganized sector of social security and pledged to study the existing policy for gig workers in Rajasthan to introduce an effective law in the upcoming state budget session.
- Newly-elected MLAs take oath as maiden session of Telangana Assembly beginsThe first session of the Third Telangana Legislative Assembly commenced with the oath-taking ceremony for newly-elected MLAs. Chief Minister A Revanth Reddy and Deputy Chief Minister Mallu Bhatti Vikramarka took their oaths, with AIMIM MLA Akbaruddin Owaisi sworn in as Protem Speaker. CM Reddy retained Municipal Administration, Urban Development, General Administration, and Law & Order, along with unallocated portfolios.
- Edible oil brand Sunpure enters packaged jaggery marketThe company has ambitious plans to become a pan-India FMCG brand that empowers Indian consumers to embrace healthy living. Given that Indian consumers are becoming increasingly health conscious and looking to replace refined, white sugar in their diets with a healthier alternative, the company decided to venture into the new segment with Sunpure Jaggery, the company said in its statement.
- India market to turn largest for Zoho in 10 years: founder Sridhar VembuVembu, who operates out of his native town Tenkasi, said the prediction is driven by India's demographic advantage as it witnessed more than 20 million child births last year, which is higher than the US, China, Japan and South Korea combined.
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