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] Rediff.com is headquartered in Mumbai with offices in Bangalore, New Delhi, and New York City.[citation needed]
 | |
 Main page as of 24 July 2009 | |
| Type of business | Public |
|---|---|
Type of site | Web portal |
| Available in | English |
| Founded | January 1996 |
| Headquarters | Mumbai, India |
| Owner | Infibeam Avenues Limited (since October 2024)[1] |
| Key people | Vishal Mehta (Chairman & MD)[2] |
| Industry | Internet |
| Revenue | ₹36 crores (FY23-24)[3] |
| Net income | ₹80 lakh (2021) |
| Employees | 316 (Dec 2009) |
| URL | rediff |
| Commercial | Yes |
| Registration | Optional |
| Launched | February 8, 1997 |
| Current status | Active |
As of 2009[update], it had more than 300 employees.[6] 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.[7]
History
editThe Rediff.com domain was registered in India in 1996.[8] Early products included the email service Rediffmail[9] and Rediff Shopping, an online marketplace selling electronics and peripherals.[citation needed]
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.[10] The case was resolved by settlement in 2009.[11]
In April 2001, Rediff.com acquired the India Abroad newspaper.[12]
In 2007, Rediff iShare, a multimedia platform, was released.[13] In 2010, Rediffmail NG was launched, an email service for mobile platforms.[14] In 2012, Rediff launched its Android App for Rediff News.[15]
In April 2016, the company decided to delist from NASDAQ, citing the high cost of reporting requirements, given its financial condition.[16]
Infibeam Avenues Limited’s era
editRediff.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.[17]
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.[2]
See also
edit
References
edit- ^ Singh, Navdeep (2 August 2024). "Infibeam Avenues acquires majority stake in Rediff.com, shares jump over 8%". The Economic Times.
- ^ a b "Infibeam founder Vishal Mehta becomes Rediff's new Chairman and Managing Director". Business Today. 4 October 2024.
- ^ "Rediff.com Appoints Vishal Mehta as Chairman and MD Following Infibeam Acquisition". Entrepreneur. 3 October 2024.
- ^ "Rediff.Com reports Q1 results: India revenue up 42%". The Financial Express. 2 July 2008. Retrieved 16 July 2010.
- ^ Chopra, Rohit (15 December 2019). "How Rediff On The NeT first created a template for the Hindu Right online in the 1990s". ThePrint. Retrieved 2 March 2023.
- ^ "Investor FAQs". Rediff.com. Archived from the original on 23 July 2010. Retrieved 16 July 2010.
- ^ "For Rediff boss, early success meant ignoring sceptics, self-learning tools". Hindustan Times. 13 August 2020. Retrieved 23 July 2021.
- ^ "India completes 20 years of commercial internet". India Digital Review. Retrieved 15 March 2014.
- ^ Anubhuti (2 October 2010). "Rediff records 15 percent growth in registered user base". Media Newsline. Retrieved 12 December 2010.
- ^ "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 (Press release). 25 May 2001. Retrieved 17 July 2013.
- ^ "Case Summary Rediff.com India Ltd. Securities Litigation". Stanford Law School. Retrieved 8 November 2018.
- ^ "Pioneering publisher Gopal Raju passes away". India Abroad. 1 April 2008. Retrieved 4 May 2008.
- ^ Mehra, Priyanka (1 July 2007). "Now share videos, music on Rediff's iShare". Mint. Retrieved 17 November 2014.
- ^ "Mobile email service from Rediff.com". The Hindu. 2 October 2010. Archived from the original on 28 October 2010. Retrieved 25 June 2019.
- ^ "Rediff News app for Android OS launched". Tech2. 18 September 2012. Retrieved 2 March 2023.
- ^ Chathurvedula, Sadhana (28 April 2016). "Rediff.com delists its shares on Nasdaq". mint. Retrieved 2 March 2023.
- ^ "Infibeam Avenues acquires 54.1% stake in Rediff.com for ₹50 crore". BusinessLine. 2 August 2024.
External links
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