Mumbai, India, May 22, 2015 – Rediff.com India Pvt. Ltd (NASDAQ: REDF) (“Rediff” or the “Company”), an India-based internet platform for content sharing and ecommerce, reported today that 30% of the sales volume on its ecommerce site is driven by its product recommendation system.
Rediff’s product recommendation system uses data-mining algorithms generated by product page views, search and browsing histories and shopping cart and purchase history to calculate the probability of a product being bought by different types of users. The output is then used to recommend relevant products to users ranging from a visitor with no shopping history to a visitor whose shopping behaviour is known.
“The Rediff internet platform has a very large following in India and is considered one of the leading online sources of news and entertainment content in the country,” commented Ajit Balakrishnan, Chairman and CEO of Rediff.com India Ltd. “Our business strategy is to leverage this content-sharing audience by using our proprietary algorithms which recommend relevant products to visitors, thereby directing visitors to the ecommerce offering and creating value for both consumers and merchants.
“Our latest findings show that 30% of the sales attributed to our ecommerce site are the result of data-driven recommendations. We view this as a very encouraging indication that our strategy to grow Rediff into a leader of both content sharing and ecommerce is working,” concluded Mr. Balakrishnan.
About Rediff.com India Limited
Rediff India (NASDAQ: REDF) is an India-based internet platform for content sharing and ecommerce. Founded in 1996, Rediff.com is headquartered in Mumbai, India with offices in New Delhi, Bangalore, Chennai, Hyderabad and New York. For additional information, please visit http://www.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, 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.