Rediff.com explained

Company Type:Public
Website Type:Web portal
Language:English
Company Name:Rediff.com India Limited
Location:Mumbai, India
Key People:Vishal Mehta (Chairman & MD)[1]
Industry:Internet
Revenue:36 crores (FY23-24)[2]
Owner:Infibeam Avenues Limited (since October 2024)[3]
Net Income:80 lakh (2021)
Num Employees:316 (Dec 2009)
Commercial:Yes
Registration:Optional
Current Status:Active

Rediff.com, stylized as rediff.com, is an Indian news, information, entertainment, and shopping website. Founded by Ajit Balakrishnan in 1996, it was the first Indian website to become a mainstream news media organization.[4] [5] It is headquartered in Mumbai with offices in Bangalore, New Delhi, and New York City.[6]

, it had more than 300 employees.[7] At the time of its founding, internet access had only been available in India for five months with a mere 18,000 users, leaving Rediff.com as one of the earliest Indian web portals and email providers.[8]

History

The Rediff.com domain was registered in India in 1996.[9] Early products included the email service Rediffmail[10] and Rediff Shopping, an online marketplace selling electronics and peripherals.

In 2001, Rediff.com was alleged to be in violation of the Securities Act of 1933 for filing a materially false prospectus in relation to an IPO of its American depositary shares.[11] The case was resolved by settlement in 2009.[12]

In April 2001, Rediff.com acquired the India Abroad newspaper.[13]

In 2007, Rediff iShare, a multimedia platform, was released.[14] In 2010, Rediffmail NG was launched, an email service for mobile platforms.[15] In 2012, Rediff launched its Android App for Rediff News.[16]

In April 2016, the company decided to delist from NASDAQ, citing the high cost of reporting requirements, given its financial condition.[17]

Infibeam Avenues Limited’s era

Rediff.com as company has existed since 1997. From 2024, Rediff.com becomes a subsidiary of Infibeam Avenues. Fintech firm Infibeam Avenues Ltd. announced on Friday that it has entered into a definitive agreement to acquire a 54.1 per cent stake in internet business firm Rediff.com India Ltd.[18]

Infibeam founder Vishal Mehta becomes Rediff’s new Chairman and Managing Director. He succeeds Ajit Balakrishnan, who has led the company since its founding in 1996. This leadership change follows Infibeam Avenues Ltd's acquisition of a majority stake in Rediff.com.[1]

See also

Notes and References

  1. Web site: Infibeam founder Vishal Mehta becomes Rediff’s new Chairman and Managing Director . Business Today . en . 4 October 2024.
  2. Web site: Rediff.com Appoints Vishal Mehta as Chairman and MD Following Infibeam Acquisition . Entrepreneur . en . 3 October 2024.
  3. Web site: Singh . Navdeep . Infibeam Avenues acquires majority stake in Rediff.com, shares jump over 8% . The Economic Times . 2 August 2024.
  4. News: Rediff.Com reports Q1 results: India revenue up 42% . . 2 July 2008 . 16 July 2010.
  5. Web site: Chopra . Rohit . 2019-12-15 . How Rediff On The NeT first created a template for the Hindu Right online in the 1990s . 2023-03-02 . ThePrint . en-US.
  6. Web site: www.ETHRWorld.com . Rediff.com appoints Vishal Mehta as Chairman and Managing Director - ETHRWorld . 2024-12-03 . ETHRWorld.com . en.
  7. Web site: Investor FAQs . Rediff.com . 16 July 2010 . https://web.archive.org/web/20100723125017/http://investor.rediff.com/faq.asp . 23 July 2010 . dead.
  8. Web site: 13 August 2020 . For Rediff boss, early success meant ignoring sceptics, self-learning tools . 23 July 2021 . Hindustan Times . en.
  9. Web site: India completes 20 years of commercial internet . India Digital Review . 15 March 2014.
  10. Web site: Anubhuti . Rediff records 15 percent growth in registered user base . Media Newsline . 2 October 2010 . 12 December 2010.
  11. Cauley Geller Bowman & Coates, LLP Announces Class Action Lawsuit Against Rediff.com India Ltd. Seeking Damages on Behalf of Purchasers of Rediff American Depository Shares – REDF . GlobeNewswire . 25 May 2001 . 17 July 2013.
  12. Web site: Case Summary Rediff.com India Ltd. Securities Litigation . Stanford Law School . 8 November 2018.
  13. News: Pioneering publisher Gopal Raju passes away . 1 April 2008 . . 4 May 2008.
  14. News: Now share videos, music on Rediff's iShare . Mehra . Priyanka . . 1 July 2007 . 17 November 2014.
  15. Web site: Mobile email service from Rediff.com . 2 October 2010 . 25 June 2019 . dead . https://web.archive.org/web/20101028223147/http://www.hindu.com/2010/10/21/stories/2010102151751800.htm . . 28 October 2010.
  16. Web site: 2012-09-18 . Rediff News app for Android OS launched . 2023-03-02 . Tech2 . en.
  17. Web site: Chathurvedula . Sadhana . 2016-04-28 . Rediff.com delists its shares on Nasdaq . 2023-03-02 . mint . en.
  18. Web site: Infibeam Avenues acquires 54.1% stake in Rediff.com for ₹50 crore . BusinessLine . en . 2 August 2024.

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