Infibeam Avenues Takes Control of Rediff.com with $3 Million Stake Acquisition

Friday, 2 August 2024, 11:08

In a significant development within the Indian internet services sector, Infibeam Avenues has acquired a majority ownership of Rediff.com by purchasing a 54% stake for $3 million. This acquisition marks a notable shift in the future trajectory for Rediff, which once led the Indian internet market. Infibeam's strategic move aims to capitalize on Rediff's legacy while attempting to revitalize its services and offerings in the competitive online landscape.
TechCrunch
Infibeam Avenues Takes Control of Rediff.com with $3 Million Stake Acquisition

Infibeam Avenues Acquires Rediff.com

The recent acquisition of a majority stake in Rediff.com by Infibeam Avenues has raised eyebrows in the market. Infibeam has purchased a 54% stake in Rediff for up to $3 million.

Impact on Rediff.com

  • This deal represents a dramatic turn for Rediff, a site that once stood as a pioneer in the Indian internet services market.
  • Infibeam Avenues aims to leverage Rediff's brand and heritage to expand its service offerings.

Conclusion

The acquisition signifies a new chapter for Rediff.com, with hopes pinned on Infibeam's expertise to rejuvenate its business model and regain market relevance.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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