Rediff.com Reports Results for the First Quarter Ended June 30, 2010
Mumbai, India, July 29, 2010,
“Online advertising in India definitely has resumed growth, we can see that in our increased pricing power which on
an average increased by 26% as compared to the same quarter last year.” said Ajit Balakrishnan, Chairman and
For Rediff.com’s quarter ended June 30, 2010, core online advertising revenues in our India business grew 16%
compared to the same quarter the previous year; total India revenues, which includes fee-based and online
advertising revenues, grew 6% for the quarter, while our global revenues grew 4% for the quarter, in each case
over the same quarter last year.
In the recently concluded auctions for 3G and Wireless Broadband spectrum, telecom companies have bid and
paid approximately US$22 Billion as spectrum license fees, according to The Hindu Business Line, and are now
implementing 3G and Wireless Broadband projects. This is a harbinger of the growth of the broadband internet
market in India. This we believe will provide the underpinning for our growth as a leading online provider of news,
information, communication, entertainment and shopping services in the country.
Total registered users grew 15%, compared to the end of the same quarter last year, to 92 million.
MyPage, our social media initiative continues to gain traction and is a strong entrant in the social networking
category. We have recently introduced online games on MyPage with social APIs available, which has brought
several worldwide game developers to our service. A large number of organisations like State Education Boards,
business organisations, celebrities, movie production houses, entrepreneurs, government bodies and NGOs have
adopted our MyPage service and are using various features to gather a follower base, send out status updates,
communicate with followers on a real time basis, promote links and articles and share photos, videos and music.
We continue to pursue our goal of imp