In a candid statement, Sridhar Vembu, co-founder and CEO of Zoho Corporation, has once again clarified why the SaaS giant has no plans of going public despite being one of India’s most profitable and globally recognized software companies.
Vembu highlighted that while IPOs provide visibility and capital, they also bring in short-term market pressures that can shift a company’s focus away from long-term innovation. “The reality is, once you’re listed, the quarterly earnings cycle begins to dictate your decisions. We prefer the freedom to build without that burden,” Vembu said.
Unlike many Indian startups eyeing IPOs for growth and liquidity, Zoho continues to stay privately held and bootstrapped, relying on its own profits to fuel expansion. The company has built a reputation for prioritizing employee welfare, rural development, and sustainable growth, setting it apart from typical Silicon Valley playbooks.
Zoho’s stance comes at a time when the IPO buzz is strong in India, with multiple unicorns preparing to list. Vembu’s comments reflect a contrarian approach, emphasizing independence over market pressure and long-term vision over short-term gains.
With a global customer base and continued profitability, Zoho shows that staying private can also be a powerful strategy in the competitive SaaS market.
