Rediff.com, a digital content and e-commerce platform bought by payments solution company Infibeam Avenues, has chosen Vishal Mehta, Infibeam Avenues’ creator, as its new chairman and managing director. In his new post, Mehta will work to enhance Rediff’s digital payments and banking services.
He replaces Ajit Balakrishnan, who has managed the corporation since it was founded in 1996. This leadership move comes after Infibeam Avenues Ltd acquired a controlling share in Rediff.com. Mehta will continue to serve as chairman and managing director of Infibeam Avenues while taking on his new post at Rediff.
In 2007, Mehta and a handful of former Amazon employees established Infibeam. Its flagship brand, CCAvenue, handles over $86 billion in transactions every year and services millions of merchants globally.
Mehta stated, “I am honored to manage Rediff.com, a firm that shares Infibeam Avenues’ ethos and operational characteristics. Rediff’s integration into the Infibeam ecosystem is a significant step forward in our expansion plan. We will use our synergies to provide new solutions and increased value to our clients.”
Ajit Balakrishnan created Rediff.com in 1996. It is a Mumbai-based internet firm that provides news, enterprise email services, and an online marketplace. It is among India’s oldest information firms. In August, Infibeam Avenues, a payments infrastructure startup, agreed to pay Rs 25 crore for a 54.1% share in Rediff.com. Infibeam, founded in 2007, is a publicly traded firm that offers digital payment solutions and enterprise software platforms to businesses and governments across a variety of industries.
Infibeam intends to combine its digital payment services, platform products, and AI solutions with Rediff.com to increase user engagement and generate new income streams. With Rediff.com’s 55 million monthly visitors, Infibeam will use artificial intelligence to cross-sell financial items like as loans, insurance, and investments.