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Rediff Increases Stake In Tachyon To 26%; P4C Is Now LocalAds

Rediff.com has increased its investment in Tachyon Technologies to 26% percent, Rediff Chairman and CEO Ajit Balakrishnan confirmed to MediaNama, exercising an option that Rediff had. Rediff had picked up a minority stake in Tachyon in 2006. Tachyon has a transliteration tool called Quillpad, and allows emailing and messaging in Indic Languages. Last quarter, we had reported Rediff's investment in mobile application company Eterno Infotech, which also has an Indic Language transliteration application. "Both are in line with our move into mobile and Indian languages," said Balakrishnan. On the status of Vakow, a Twitter-like startup that Rediff has invested in, he said that they wanted another round of investment, but Rediff told them to find another investor in order to price the investment, as is normal practice. Vakow is struggling, though. In a brief conversation with MediaNama over the weekend, Balakrishnan spoke about the state of advertising, the launch of localads, scaling down of the P4C advertising business, game development, and also shared his views on the Indic Language space, which had sparked off quite a discussion, earlier in December. Q. You've seen a significant decline in advertising revenues for the quarter... AB: The online advertiser category, as a group, is where we've seen the maximum decline - of more 60%. This is essentially because those industries right now are going through a very difficult time; I was told on good authority that the online travel sites alone have collectively have lost more than $100 million dollars in the last…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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