Rediff Extends Marketplace to its Worldwide Audiences
Enables festival gifting store for overseas customers
Monday, August 24, 2015
Mumbai, India – Rediff.com India. Ltd (NASDAQ: REDF) (“Rediff” or “the Company”), an India-based internet company which delivers digital content and commerce services, has expanded its shopping market place with the launch of an online gift store for the festive season, accessible to its customers worldwide at rakhi.rediff.com.
As per the July 2015 ComScore Media Metrix Report, Rediff has a 20% reach in the Indian Internet market and 11% (approximately two million) of its monthly active user base, is based outside India. Users coming to Rediff.com to consume content and communication services are presented with products listed on its shopping marketplace. The launch of this new festive online store provides users in the United States, the U.K. and other countries with an opportunity to send gifts to family and friends in India for festive occasions. In turn, the service is also available for domestic users in India to send gifts to relatives and friends abroad in specific countries, including the United States, the UK, Australia and the United Arab Emirates.
With the onset of the holiday season in India beginning with Raksha Bandhan, a festival that celebrates the bond between brothers and sisters, the launching of this festive e-commerce site presents a unique opportunity for thousands of small merchants to market their merchandise to millions of Indians worldwide.
Rediff’s online gifting store for Raksha Bandhan, rakhi.rediff.com, offers a wide variety of Rakhis and Raksha Bandhan gifts and can be easily accessed on PC and mobile devices. The marketplace offers a selection of over more than 1.5 million products from which users can select gifts for friends and relatives. The Rakhi store has features listings that include gifts from well-known Indian confectionary brands and other premium sweet and dry fruit brands, as well as products such as pooja thalis, dry fruits and gold, silver and thread Rakhis.
“Rediff continues to provide user-friendly e-commerce services to our customers in India and other parts of the world. Thanks to our innovative digital platform within our pre-existing shopping marketplace, small merchants gain greater exposure to a large consumer base in search of culturally relevant products this holiday season,” said Ajit Balakrishnan, Chairman and CEO, Rediff.com India Ltd.
Rediff.com India Ltd. (NASDAQ: REDF) is an India-based internet company which delivers digital content and commerce services. Founded in 1996, Rediff.com is headquartered in Mumbai, India with offices in New Delhi, India and New York, USA. For additional information, please visit http://investor.rediff.com.
Except for historical information and discussions contained herein, statements included in this release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and reflect our current expectations. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward looking statements. These risks and uncertainties include but are not limited to the slowdown in the economies worldwide and in the sectors in which our clients are based, the slowdown in the Internet and IT sectors world-wide, competition, success of our past and future acquisitions, attracting, recruiting and retaining highly skilled employees, technology, acceptance of new products and services, the development of broadband Internet and 3G networks in India, legal and regulatory policies, managing risks associated with customer products, the wide spread acceptance of the Internet as well as other risks detailed in the Form 20-F and other reports filed by Rediff.com India Limited with the U.S. Securities and Exchange Commission. Rediff.com India Limited and its subsidiaries may, from time to time, make additional written and oral forward looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. Rediff.com India Limited does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For further details contact:
Rediff.com India Ltd.
Investor Relations and Corporate Affairs Contact
Tel.: +91-22-6182 0000 Extn. 138
Philip Carlson and Elizabeth Barker
KCSA Strategic Communications