> 2. EU is the easiest second market, and another step change of hundreds of millions of customers in a somewhat unified market

What about China? India?

india is a great market, but:

1. extremely price sensitive; zoho is regarded as expensive

2. 121 major languages in active/business use, with 22 formally recognised by government. These people may understand limited english.

3. 28 unique states plus 8 unique territories.

so in many ways its like expanding across the US, except there are 22 languages as well as 36 state law regimes, plus federal law, and then indian city law, transfer pricing regimes, currency settlement issues... etc.

China is also possible, but still price sensitive and strongly culturally prefers local solutions

edit: fixed formatting.