Rediff.com
Rediff.com India Limited
Type of businessPublic
Type of site
Web portal
Available inEnglish
FoundedJanuary 1996 (1996-01)
HeadquartersMumbai, India
OwnerInfibeam Avenues Limited (since October 2024)[1]
Key peopleVishal Mehta (Chairman & MD)[2]
IndustryInternet
Revenue₹36 crores (FY23-24)[3]
Net income₹80 lakh (2021)
Employees316 (Dec 2009)
URLrediff.com
CommercialYes
RegistrationOptional
LaunchedFebruary 8, 1997 (1997-02-08)
Current statusActive

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 Bengaluru, New Delhi, and New York City.[6]

As of 2009, 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.[11]

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.[12] The case was resolved by settlement in 2009.[13]

In April 2001, Rediff.com acquired the India Abroad newspaper.[14]

In 2007, Rediff iShare, a multimedia platform, was released.[15] In 2010, Rediffmail NG was launched, an email service for mobile platforms.[16] In 2012, Rediff launched its Android App for Rediff News.[17]

In April 2016, the company decided to delist from NASDAQ, citing the high cost of reporting requirements, given its financial condition.[18]

Infibeam Avenues Limited's era

In 2024, Rediff.com became a subsidiary of Infibeam Avenues, which acquired a 54.1 per cent stake in Rediff.com India Ltd.[19] Infibeam founder Vishal Mehta became Rediff's new Chairman and Managing Director, succeeding Ajit Balakrishnan, who had led the company since its founding in 1996.[2]

See also

References

  1. ^Singh, Navdeep (2 August 2024). "Infibeam Avenues acquires majority stake in Rediff.com, shares jump over 8%". The Economic Times.
  2. ^ ab"Infibeam founder Vishal Mehta becomes Rediff's new Chairman and Managing Director". Business Today. 4 October 2024.
  3. ^"Rediff.com Appoints Vishal Mehta as Chairman and MD Following Infibeam Acquisition". Entrepreneur. 3 October 2024.
  4. ^"Rediff.Com reports Q1 results: India revenue up 42%". The Financial Express. 2 July 2008. Archived from the original on 12 October 2014. Retrieved 16 July 2010.
  5. ^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.
  6. ^www.ETHRWorld.com. "Rediff.com appoints Vishal Mehta as Chairman and Managing Director - ETHRWorld". ETHRWorld.com. Archived from the original on 7 December 2024. Retrieved 3 December 2024.
  7. ^"Investor FAQs". Rediff.com. Archived from the original on 23 July 2010. Retrieved 16 July 2010.
  8. ^"For Rediff boss, early success meant ignoring sceptics, self-learning tools". Hindustan Times. 13 August 2020. Archived from the original on 23 July 2021. Retrieved 23 July 2021.
  9. ^"India completes 20 years of commercial internet". India Digital Review. Archived from the original on 17 April 2015. Retrieved 15 March 2014.
  10. ^Anubhuti (2 October 2010). "Rediff records 15 percent growth in registered user base". Media Newsline. Archived from the original on 12 January 2011. Retrieved 12 December 2010.
  11. ^https://www.business-standard.com/content/press-releases-ani/tata-cliq-partners-with-rediff-com-to-attract-new-shoppers-124010800722_1.html
  12. ^"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. Archived from the original on 24 June 2018. Retrieved 17 July 2013.
  13. ^"Case Summary Rediff.com India Ltd. Securities Litigation". Stanford Law School. Archived from the original on 16 January 2021. Retrieved 8 November 2018.
  14. ^"Pioneering publisher Gopal Raju passes away". India Abroad. 1 April 2008. Archived from the original on 3 March 2016. Retrieved 4 May 2008.
  15. ^Mehra, Priyanka (1 July 2007). "Now share videos, music on Rediff's iShare". Mint. Archived from the original on 8 November 2018. Retrieved 17 November 2014.
  16. ^"Mobile email service from Rediff.com". The Hindu. 2 October 2010. Archived from the original on 28 October 2010. Retrieved 25 June 2019.
  17. ^"Rediff News app for Android OS launched". Tech2. 18 September 2012. Archived from the original on 17 November 2020. Retrieved 2 March 2023.
  18. ^Chathurvedula, Sadhana (28 April 2016). "Rediff.com delists its shares on Nasdaq". mint. Archived from the original on 2 March 2023. Retrieved 2 March 2023.
  19. ^"Infibeam Avenues acquires 54.1% stake in Rediff.com for ₹50 crore". BusinessLine. 2 August 2024. Archived from the original on 8 October 2024. Retrieved 8 October 2024.

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