Rediff.com (stylized as ''rediff.com'') is an Indian news, information, entertainment and
shopping
Shopping is an activity in which a customer browses the available goods or services presented by one or more retailers with the potential intent to purchase a suitable selection of them. A Retail#Shopper profiles, typology of shopper types ha ...
web portal. It was founded in 1996. It is headquartered in
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
, with offices in
Bangalore
Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...
, New Delhi and New York City.
, it had more than 300 employees. It is one of the earliest web portals and email providers in India. When its founder
Ajit Balakrishnan
Ajit Balakrishnan is an Indian entrepreneur, business executive and administrator. He is the founder, current Chairman and Chief Executive Officer of Rediff.com, an internet company based in Mumbai. He was Chairman of the Board of Governors o ...
launched Rediff on the NeT, the internet was barely five months old in the country, and had a total of about 18,000 users.
History
The Rediff.com domain was registered in India in 1996.
Early products included the email service Rediffmail 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
The Securities Act of 1933, also known as the 1933 Act, the Securities Act, the Truth in Securities Act, the Federal Securities Act, and the '33 Act, was enacted by the United States Congress on May 27, 1933, during the Great Depression and after ...
for filing a materially false
prospectus in relation to an
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
of its
American depositary share
An American depositary receipt (ADR, and sometimes spelled ''depository'') is a Negotiable instrument, negotiable security that represents securities of a foreign company and allows that company's shares to trade in the U.S. financial markets.
...
s. The case was resolved by settlement in 2009.
In April 2001, Rediff.com acquired the ''
India Abroad
''India Abroad'' is a weekly newspaper published from New York City, which focuses on Indian news meant for an Indian American, Indian diaspora and expatriate audience. The publication is known for its annual award ceremony for the "India Abroad P ...
'' newspaper.
In 2007, Rediff iShare, a multimedia platform, was released. In 2010, Rediffmail NG was launched, an email service for mobile platforms. In 2012, Rediff launched its Android App for Rediff News.
In April 2016, the company decided to delist from
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
, citing the high cost of reporting requirements, given its financial condition.
References
External links
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{{Use dmy dates, date=August 2022
Companies based in Mumbai
Companies formerly listed on the Nasdaq
Indian companies established in 1996
Online companies of India
Internet properties established in 1996
Mass media companies of India
Software companies based in Mumbai
Web portals
Webmail
1996 establishments in Maharashtra