Rediff, Once an Internet Pioneer in India, Sells Majority Stake for $3M (techcrunch.com) 2
An anonymous reader shares a report: Payments infrastructure firm Infibeam Avenues has acquired a majority 54% stake in Rediff.com for up to $3 million, a dramatic twist of fate for the 28-year-old business that was the first Indian internet firm to list on Nasdaq back in the year 2000.
Founded in 1996, Rediff rode the initial dot-com wave to become one of India's leading web portals, offering email, news, and e-commerce services. At its peak, Rediff was valued at over $600 million on the Nasdaq stock exchange. It also drove some of the largest traffic in India, climbing at least up to the 12th spot, according to brokerage house Jefferies.
Founded in 1996, Rediff rode the initial dot-com wave to become one of India's leading web portals, offering email, news, and e-commerce services. At its peak, Rediff was valued at over $600 million on the Nasdaq stock exchange. It also drove some of the largest traffic in India, climbing at least up to the 12th spot, according to brokerage house Jefferies.
The Long Tail: Tiger Edition. (Score:2)
Re: (Score:2)
I thought Yahoo died years ago after Marissa's road rage at the steering wheel. I just checked and it still seems to be around!!
The long tail? The internet has turned every marketplace into a winner takes all market. Websites are disappearing, e-commerce is owned by a few large players, and so is social media, chat, news, email ... etc.