The Hindu Business Line: Ajit Balakrishnan, founder and CEO of Rediff.com, knows it the best. At a conference in IIM Kozhikode, a management institute, Balakrishnan said that it would be unrealistic to expect the Internet to become a business model overnight. He recounted the struggles and setbacks faced by rediff.com during the early days of its listing on Nasdaq and the subsequent collapse of all Internet stocks.
The Nasdaq-listd Rediff is just turning the corner by cutting losses. The company, which was set up in 1995, had revenues of $12.6 million and a net loss of $1.4 million in 2004-05. Balakrishnan’s net journey has been tumultous.
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