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Q409 Call: Rediff Buys 26% In Examville, Writes Off Vakow; Debit Card Commerce; REST APIs

Corrigendum: We've mistook Ajit Balakrishnan's statement comparing Rediff Moneywiz to CNBC-TV18, as a comparison with moneycontrol.com. According to Balakrishnan, Rediff Moneywiz is closing in on the TV channel CNBC-TV18. The error is regretted, and has been corrected below. Rediff.com has picked up 26% in Examville, a US based company which provides educational testing services for SAT Exams etc. The amount of investment was not disclosed. Rediff Chairman and CEO Ajit Balakrishnan believes that the exam preparation market is a promising market; Examville has a team in New York that is targeting that market. Vakow Writeoff Balakrishnan said that the founders of Vakow have decided to move on, and Rediff has written down that investment fully. Rediff had invested $125,000 in Vakow in June last year. Rediff liked the idea, but the founders expected it to grow faster than the market would allow it to. Eterno Infotech and Tachyon Balakrishnan is most bullish on Eterno Infotech and Tachyon; Rediff has 40% stake in Tachyon. Their basic business is to provide a solution to newspapers in India through mobile. They've had around half a dozen wins of late. Tachyon continues to make significant gains in providing transliteration services; Balakrishnan considers Tachyon "a star". E-Commerce And Debit Cards "E-Commerce is holding up much better than the other segments. This quarter we had to amortize some costs, so it doesn't look great. We're changing the navigation system, in order to make it much simpler to use. We're optimistic on the e-commerce front: that is…

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

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