INDIA GROWTH ZOHO
Why AI's future is Indian: SenseAI survey shows how India is at a turning point
One of the key revelations is that SaaS has emerged as the dominant business model among the startups in a survey, indicating a growing preference for cloud-based AI solutions.
Zoho applies for semiconductor manufacturing facility in India
Software company Zoho, aiming to tap into India's aspirations to become a global semiconductor player, has applied with a partner to set up a semiconductor manufacturing facility in India. Co-founder Sridhar Vembu confirmed the move, citing a stringent evaluation process. The initiative aligns with India's semiconductor manufacturing incentive plan.
Shiprocket to upskill 100,000 Indian MSMEs through e-commerce learning
The Shiprocket Growth Academy aims to foster a thriving community where sellers can connect, share valuable insights and learn collaboratively.
Ola CFO exits; India’s data centre edge
Kartik Gupta, chief financial officer, Ola Cabs has stepped down, just two weeks after chief executive Hemant Bakshi’s exit. This and more in today’s ETtech Top 5.
India’s bumper Apple harvest; GCCs go wider to hunt talent
The iPhone has driven India’s mobile exports to over $15 billion in FY24. This and more in today’s ETtech Top 5.
Top Indian unicorns continue to add talent despite funding, growth challenges
Data from top 15 unicorns by talent movements– including the likes of BigBasket, Delhivery, Flipkart, IndiaMART, Meesho, Ola, PhonePe, Swiggy, Udaan, Zoho, Zomato - showed that over the last 12 months, this cohort of firms let go 33,000 employees but hired 58,000, to record a 25,000 net headcount growth.
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India: Apple's wearable, laptop & tablet business fails to match iPhone's impressive growth in 2023
Apple's smartwatch business in India registered a marginal 3% growth in revenues and shipments in 2023 while iPad shipments and revenues declined 11% and 27%, respectively, according to International Data Corporation (IDC). MacBook shipments declined 37% in 2023, while revenues fell 49%. Apple desktops, however, grew 7% in shipments, the market tracker said.
Juspay, others secure payment aggregator nod; Paytm shares rebound
Zoho is the first enterprise Saas player to get the payment aggregator nod from the RBI, joining the likes of Razorpay, Cashfree, Zomato and others.
Juspay, Zoho, Decentro secure RBI nod for payment aggregator business
Software as a service startup Zoho also got the payment aggregator licence on February 2. Zoho is the first enterprise Saas player to get this nod from the RBI.
Apple logs another quarter revenue record in India, CEO Tim Cook says
Apple has registered strong double-digit growth in the December quarter in India, reaching another quarter revenue record in the country, the company's CEO Tim Cook has said.
View: What lies ahead for ITeS sector & how GoI can play its part
While the ITeS sector will continue to grow near double-digit levels, headcount will shrink in 2024 by at least 5 percentage points. If the sector does not shed people, it would indicate seeping complacency, a lack of understanding of the impact of new technologies, and an incipient loss of competitiveness. It needs to reduce headcount, and stay competitive and relevant in the face of automation and AI.
India market to turn largest for Zoho in 10 years: founder Sridhar Vembu
Vembu, 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.
SaaS firm Zoho crosses 10 crore users globally
Zoho said it has witnessed a three-year Compound Annual Growth Rate (CAGR) of 65% in the upmarket segment in India.
Ray Dalio feels India is unstoppable after Chandrayaan-3 success, Zoho CEO Sridhar Vembu recommends balancing growth and skipping realty bubble
India's successful lunar mission has garnered praise from Bridgewater Associates founder Ray Dalio, who compared India's potential to that of China in 1984. Dalio highlighted India's projected growth rate of 7% over the next decade and stated that it has the right mix of ingredients for success.
Zoho freezes hiring in engineering roles, selective recruitment for customer-facing roles to continue
Amid global macro headwinds, Zoho on Wednesday said it has decided against layoffs but will adopt a prudent approach involving a hiring freeze for engineering roles and pruning marketing spending, although selective recruitment for customer-facing roles will continue.
Not planning any law to regulate AI growth in India: IT minister Ashwini Vaishnaw
In a written reply to the Lok Sabha, Vaishnaw said that though AI had proven to be an enabler of the digital and innovation ecosystem, it had ethical concerns and associated risks.
Focus on markets beyond G7 has helped Zoho weather storm: Sridhar Vembu
According to Vembu, India is the company's third-largest market and is set to outpace the European Union in the next three years to become the second largest.
Loyalty vs layoff: Zoho CEO Sridhar Vembu has a message for entrepreneurs
Zoho CEO Sridhar Vembu believes that entrepreneurs can use the current job market uncertainty to earn employee loyalty. As the economy becomes increasingly uncertain, Vembu notes that the time has come to build employee loyalty.
Zoho's 'transnational localism' is helping tide through the current disruptions in SaaS: Sridhar Vembu
Vembu said that SaaS companies spend a lot on marketing and sales akin to the dot-com model where most of Yahoo's revenue came from selling advertising to other dot coms who were losing money.
Dark clouds, yet Zoho sees $1 billion revenue for ManageEngine in a year
Speaking at ManageEngine UserConf Mumbai 2023, Vembu said the Zoho management expects its enterprise IT management division to cross $1 billion in revenue by the next year, given the demand metrics.
Zoho India FY22 profit rises 43% to Rs 2,748.83 crore
The company generates revenue from licensing of software products, consulting, software maintenance and technical support.
Zoho Desk goes past one-lakh customer mark
Developed in November 2016 by a core team of engineers and product managers who moved to the satellite office, Zoho Desk competes with overseas firms like Salesforce to corner a pie of an estimated $30 billion (Rs 2.48 lakh crore) global customer service market.
Zoho has crossed $1 billion in annual revenue, says CEO Sridhar Vembu
Amid the economic slowdown, Chennai-based global technology company Zoho Corporation on Tuesday announced it has reached $1 billion in annual revenue, riding on its diversified product portfolio.
Ciel Group receives private investments to the tune of Rs 20 crores from Zoho Corp and others
The Group also announced a skill tech platform for employers and employees - CielJobs.com along with its annual results. “Connecting thousands of people with a platform to upskill and find right job opportunities across the nation, CielJobs.com is committed to create a new and productive future of work,” Rajiv Krishnan, MD and CEO of Ciel Skills and Careers said.
ICICI Bank launches all digital ecosystem for MSMEs
MSMEs, who are customers of other banks, can avail of a host of services from the bank’s digital ecosystem by logging in as a guest in the new version of InstaBIZ.
Zoho Creator bets big on India market to drive growth
The platform, which is part of Zoho Corporation, also anticipates India and the Middle East to be its two key markets in future. The platform recently launched the latest version of its offering to help users easily build scalable low-code solutions, including apps, integrations, analytics, and process automation.
Zoho Creator powers Greater Chennai Corporation's vaccination booking portal
The GCC vaccine booking app allows for a single-step login that redirects the user to zone selection and then the available slots, thus ensuring a smooth and quick registration. This feature shortened the booking process and helped citizens book a slot within 30 seconds and over 3 lakh citizens have used the platform to get vaccinated.
Zerodha, SII, Zoho among top bootstrapped value creators in 2021
The Adar Poonawalla-run company has seen a tremendous change in its fortunes since the onset of the pandemic given its early move into manufacturing critical COVID-19 vaccines in partnership with AstraZeneca and a few other international vaccine makers.
Zoho One grows 60% globally and 104% in India
This comes as the company introduced six new apps, three new services and seven major platform enhancements in Zoho One.
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