Part of the opportunity for Zoho lies in differentiation. It has 19 online productivity and collaboration applications, including customer relationship management, project management and invoicing. So it only competes head-to-head against Google with five offerings.
So what exactly differentiates Zoho? The breadth of its product line? That doesn't sound like much of a differentiator.
Or is there more that this article doesn't mention? Any special processes, APIs, or features? It's relationship with VARs?
It must have a great differentiator to have $50MM in revenue without funding. It's just unclear from this article exactly what that differentiator is.