Rediff, once a pioneer of internet services in India, sells majority stake for $3M
Infibeam Avenues acquired a 54% stake in Rediff.com for up to $3 million, marking a significant turn for the pioneering Indian internet firm.
MAIN POINTS
- Infibeam Avenues acquired a majority 54% stake in Rediff.com.
- The acquisition deal is valued at up to $3 million.
- Rediff.com was the first Indian internet firm to list on Nasdaq in 2000.
TAKEAWAYS
- Infibeam Avenues' acquisition marks a significant move in the payments infrastructure sector.
- Rediff.com has a notable history, being founded in 1996 and listing on Nasdaq in 2000.
- The $3 million deal highlights the evolving landscape of Indian internet businesses.