Rediff.com Appoints Vishal Mehta as Chairman and MD Following Infibeam Acquisition The appointment comes shortly after Infibeam Avenues acquired a 54% stake in Rediff.com in August, signaling its intention to relaunch the platform as a consumer-facing digital financial services aggregator.
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Rediff.com has announced the appointment of Vishal Mehta as its new Chairman and Managing Director, marking a pivotal leadership change following Infibeam Avenues Ltd's acquisition of a majority stake in the company.
The board of directors finalised Mehta's appointment, succeeding Ajit Balakrishnan, who has led the company since its inception in 1996.
Vishal Mehta will continue in his dual role as Chairman and Managing Director of Infibeam Avenues.
Ajit Balakrishnan said, "I am confident that the best is yet to come, and under Vishal's leadership, Rediff.com will undoubtedly drive into new realms of growth and innovation."
The appointment comes shortly after Infibeam Avenues acquired a 54% stake in Rediff.com in August, signaling its intention to relaunch the platform as a consumer-facing digital financial services aggregator.
Rediff.com, originally launched in 1996, has expanded over the years to offer services such as cloud-based enterprise email storage, content distribution, and commerce services.
With over 55 million monthly visitors, it ranks among the top 1,000 websites globally in traffic and possesses valuable data assets on user behavior, preferences, and spending patterns.
Infibeam's regulatory expertise, especially through its CCAvenue payment gateway, approved by the Reserve Bank of India (RBI) and the Saudi Arabian Monetary Authority (SAMA), is expected to be instrumental in Rediff.com's growth trajectory.
Mehta, excited about his new role, stated, "Integrating Rediff into the Infibeam ecosystem marks an important milestone in our growth strategy. Together, we will harness our synergies to deliver innovative solutions and greater value to our customers."
In FY 2023-24, Rediff.com claims to have reported revenues of INR 360 million, showcasing strong growth potential. Infibeam Avenues Ltd, on the other hand, posted consolidated gross revenue of INR 31,711 million with a profit after tax (PAT) of INR 1,478 million during the same period.
