Google and Yahoo eyeing on Rediff ??
I have been hearing rumors about Rediff being possible acquired by Google or Yahoo. The unsubstantiated report first came in Hindustan Times (link here). It says that it got the information from investment banking sources saying that the management of Rediff is in talks with the global companies for a negotiated takeover deal.
And I have also read about lot of articles arguing that it’s not true. Anyway, I have added some links where you could get more information. So you decide for yourself whether it’s a rumor or not.
http://mashable.com/2007/07/15/google-yahoo-want-to-acquire-rediff/
http://www.techcrunch.com/2007/07/16/someone-may-be-looking-to-buy-rediff/
http://www.financialexpress.com/fe_full_story.php?content_id=170179
http://sramanamitra.com/2007/07/16/rediff/
http://www.contentsutra.com/entry/419-reports-on-google-and-yahoo-in-talks-to-acquire-rediff-are-baseless/
However one noticeable fact is that Rediff shares increased from $17.94 to $25.41 per share when they announced the launch of iShare application. Rediff iShare is a social media application where a user could submit audio, video and images for free and could share them with the rest of the world. Read our coverage about iShare here.
Filed under: Miscellaneous
whom ever buy rediff, that will give edge in indian portal business, because india is one of fast growing net community in the world. I don’t think Ajit Balakrishan will settle for small amont.