Jul 16, 2007 113 reads by Navneet Kaushal

autoch_main_redifflogo.gifIn an interview with Aloo Techie, Ajit Balakrishnan, founder and CEO, Rediff.com, thwarts reports that Yahoo and Google might acquire Rediff. Com and called the news as, 'completely untrue'.

Indian Daily Hindustan Times previously reported:

“US-based Internet giants such as Google and Yahoo are eyeing Rediff.com India Ltd, which runs one of India's most popular consumer Internet portals, for a possible acquisition. Investment banking sources told Hindustan Times that the management of Nasdaq-listed Rediff was in talks with the global companies for a negotiated takeover deal.

Rediff, Google and Yahoo officials could not be immediately reached for their comments. Talk of the deal is emerging in the context of a general worldwide rebound in the Internet business, and India emerging as a hot story in the global economy with strong growth in both telephone penetration and the Internet in urban areas.”

Reuters reported that U.S. financial newspaper Barron's said, "Rediff.com shares are overpriced".

After the news broke out, Ajit Balakrishnan, Rediff.com's founder and CEO said:

“It’s completely untrue and this report was written without verifying with us if the report was true; there are no discussions of this nature going on. It is clearly an instance of a reporter’s over-active imagination on a slow news day and his editor not bothering to ask him if he has checked with the company concerned.”

For more on this news, watch this space.

Navneet Kaushal

Navneet Kaushal

Navneet Kaushal is the founder and CEO of PageTraffic, an SEO Agency in India with offices in Chicago, Mumbai and London. A leading search strategist, Navneet helps clients maintain an edge in search engines and the online media. Navneet's expertise has established PageTraffic as one of the most awarded and successful search marketing agencies.
Navneet Kaushal
Navneet Kaushal
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