07-16-2007, 03:06 PM
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Senior Member
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Join Date: Apr 2007
Location: INForum
Posts: 471
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Rediff about to be Purchased by Google or Yahoo?
Is either Google or Yahoo about to make a huge step into the Indian market?
Quote:
Google and Yahoo are reportedly looking to possibly acquire India-based Rediff, a widely-used consumer Internet portal.
Rediff’s NASDAQ stock has had an upwards swing in the past week when it launched a website for consumers to submit user-generated content such as audio, images and videos for free, moving from $17.94 per share to $25.41 per share. Its trading volume has also increased a great deal, giving it a reported valuation of $1 billion. Some reports say that Rediff could get more than $25 per share with an acquisition, and may also be courting companies other than Google and Yahoo. These other companies could include AOL and Microsoft.
With every major player in the US market supposedly looking to Rediff as a strong way to penetrate the Indian market further, Rediff is looking at a potentially sweet deal. With a reach in nearly every form of Internet-based communication and entertainment as well as consumer commerce services, Yahoo seems to be the company that would have the most direct interest, though Google’s plans to dominate in as many areas as possible would also hint at its interest in taking over Rediff. Microsoft is also looking to gain more presence in India while AOL already has a foothold in India, though would seemingly desire an increase in marketshare. This all helps to reiterate India’s position in the global space when it comes to Internet provisions.
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Google and Yahoo Looking to Acquire India-Based Rediff
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