Not happy news for Rediff.com investors on the day before Diwali, as the company announced a $3 million loss and a 22% decline in advertising revenue. What's particularly worrying is that Rediff has only $12.5 million cash in bank, which means that the company will have to raise money, increase revenues and/or cut costs. While a quarterly results comparison isn't possible with Rediff, since it earns most of its money in Indian Rupees and reports results in US Dollars, and exchange rates vary each quarter, it's worth noting that the company reported a loss of $3.48 million in the last quarter, and $3.39 million in the quarter before that. Another four quarters of $3 million in losses and it will run out of cash. It has 16.5 million monthly unique users, up 17.5% year on year, but that clearly isn't contributing…
- PrivacyNama Session: Chief Privacy Officer Roundtable; October 7 October 1, 2022
- Delhi police deploys drones to monitor anti-CAA protest centre Shaheen Bagh October 1, 2022
- India’s Department of Telecommunications (DoT) orders ISPs to Block 67 Porn Websites October 1, 2022
- AI Law and Policy Diploma Course (CCG-NLUD) 2022 #Ad October 1, 2022
- RBI’s card storage rules kick in today, but is the payments ecosystem ready in India? October 1, 2022
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