Infibeam Avenues Secures Majority Stake In Rediff.com In Rs 50 Crore Deal
Summary
Ajit Balakrishnan, Chairman and CEO of Rediff.com, voiced confidence in the acquisition, saying, "I am glad to hand over this historic brand and its history to Mr Vishal Mehta and Infibeam Avenues. Infibeam Avenues, known for its digital payment gateway CCAvenue and business software platforms, plans to use this acquisition to boost user engagement and open up new revenue streams. The company plans to exploit data from this user base to cross-sell financial items like loans, insurance and investments using artificial intelligence, expanding its market reach. The acquisition is a big step forward for Infibeam Avenues, establishing it as a leading player in consumer-facing digital financial services with a comprehensive offering that includes mainstream news, cloud-based enterprise email storage and collaboration platforms. As Infibeam Avenues enters this new phase, the integration of Rediff.coms offerings is expected to accelerate the companys growth and strengthen its position in shaping the future of digital finance and content distribution.
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