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Rediff
built 177 days ago
Rediff.com (Nasdaq REDF) is one of the premier worldwide online provider of news, information, communication, entertainment and shopping services for Indians. Known for being one of the first with news and providing accurate and trustworthy information, Rediff.com provides an ideal platform for Indians worldwide to connect with one another online fast. Rediff.com is committed to offering a personalized and a secure surfing and shopping environment. Rediff.com additionally offers the Indian American community one of the oldest and largest Indian weekly newspaper, India Abroad. Founded in 1996, Rediff.com is headquartered in Mumbai, India with offices in New Delhi and New York, USA.
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Located in Mumbai, India, Rediff is the leading India focused, Internet "portal" providing news, information, entertainment, and e commerce services. Currently, Rediff is positioned as a media company for Indians all over the world. Rediff's growth has largely been driven through the acquisition of two offline businesses in the U.S. - India Abroad and Valucom. India Abroad is a newspaper in the U.S. serving the Indian ethnic community on the East coast, and Valucom offers pre-paid calling cards on the Internet to Indians in the U.S. Warburg Pincus invested in the company in 1999 to provide expansion capital. The investment is centered on the belief that the potential for India related information and e-commerce services is significant, and that Rediff will be able to build and sustain a dominant presence for all India related activities in the Internet space. Rediff became a public company through an ADR listing on NASDAQ in 2000.
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[A] company as large as Rediff ... has the option of buying websites like Yaars if they want to build out a standalone social network to add to their media holdings. U.S. media companies like News Corp and Fox Interactive have taken a similar approach instead of trying to build everything onto one web platform.
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Rediff Matchmaker will send emails on your behalf without disclosing your email id. The member will receive an email from profiles@rediffmatchmaker.com at the email id that she/ he registered with on Rediff Matchmaker. The email will contain a link, which will allow the member to view your profile on Rediff Matchmaker and reply back to you.
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Rediff.com shares fell $1.89, or 17.7 percent, to $8.81. The Mumbai-based company reported third-quarter earnings of 3 cents per share on revenue of $8.53 billion. Analysts polled by Thomson Financial expected profit of 3 cents per share on revenue of $9.1 billion. At one point during intraday trading Monday, Rediff.com topped the list of biggest percentage price losers on the Nasdaq Stock Market.
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Rediff, Google and Yahoo officials could not be immediately reached for their comments. Talk of the deal is emerging in the context of a general worldwide rebound in the Internet business, and India emerging as a hot story in the global economy with strong growth in both telephone penetration and the Internet in urban areas.
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