Rediff To Invest In New Services Like Gaming And Mobile Content

Moneycontrol.com: Leading online media company, Rediff, has seen revenues from its Indian web site grow by 88% last quarter. Rediff says it will continue to post a small net loss for the next 2-3 quarters as it invests in newer services like voice chat, gaming and mobile content.
Ajit Balakrishnan, Chairman and CEO, Rediff.com said that the company is positive about the growth of its Indian portal. He said there’s been a mind change toward online advertising in India and that would help deliver greater revenues going forward.
Balakrishnan said, “It used to take a great deal of effort to get people to advertise online. But that has changed now, all the financial services companies advertise online, so we have come a long way from the dark, gloomy days of online advertising in India.”
The company also plans to convert its US weekly newspaper, India Abroad into an online site, though Balakrishnan did not specify a time frame for this change.

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