Is Rediff Launching A New Venture, Or Is IShare Being Hived Off?

Alarm Clock had done a story on Rediff launching a disruptive media technology business last week, and since then we’ve been trying to get more information/an official statement on the venture. Rediff’s VP for HR and Corporate Development Ashish Mehrotra had posted a job opening for a COO at LinkedIn, according to which:

“The model will attempt to create a disruption in the TV industry using contemporary internet technologies. The current team consists of 15 employees who have deep understanding and experience in digital video processing, media and product development.

To me that sounds like iShare, but somewhere in that profile, it mentions a separate company. What I’d like to know is – is this an entirely new venture, or is iShare being hived off into a separate company?

In response to a mail from ContentSutra, Ajit Balakrishnan, CEO of Rediff has declined to comment, saying that “For competitive reasons, we are unable to add any more information on this at this moment.”

Note: Alootechie had published the same; the Linked In information first appeared in a comment on VCCircle.