Congratulations on the launch (and welcome to HN, since I see that your account is just 3 hours old :)
That said, your post suggests that you acquired domain knowledge at Zendesk, then decided to use that knowledge to immediately and directly compete with Zendesk with price as your only differentiatior.
I suspect that the folks at Zendesk aren't going to sue you on any non-compete or trade-secret agreements, but I'm curious to know if you think that your competition raises any ethical concerns or not.
[edit] Thanks for the correction, Aditya and apologies Girish for reading the post too fast and confusing Zoho with Zendesk