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Founder and Chairman of Rediff.com
By Team 8
Ajith Balakrishnan·s Background
Education Qualification : Bachelors degree in Physics from Kerala University . Post Graduate Diploma in Management , Indian Institute of Management, Kolkata Organization : Rediff.com (NASDAQ: REDF) is one of the premier worldwide online providers of news, information, communication, entertainment and shopping services. Designation : Founder and Chairman of Rediff.com
Chairman and Managing Director of the Company. Director of Rediffusion Dentsu Young & Rubicam Private Limited, India Abroad Publications, Inc., India In New York, Inc., India Abroad Publications (Canada) Inc., Value Communications Corporation VuBites India Private Limited. Mr. Balakrishnan is also Chairman of the Board of Governors of The Indian Institute of Management Calcutta Chairman of the Working Group of Internet Governance set up by the Government of India
His Interests : Interested in impact of technology on society ( and vice versa); multicultural examples and cases particularly from Latin America, China and other non-Western cultures ( only because the Western cases are relatively well documented) Favorite books: 100 years of solitude...
Thirst to know about Rediff.com.
What was your family background like? Was it entrepreneurial? What prompted you to leave your first job after just ten months and start on your own How much did you invest in Rediff.com?
What do you think is the role of a professional investor (VC or angel) in a startup? When should an entrepreneur look for funding? Do you interact a lot with young wannabe or actual entrepreneurs these days? If yes, are they very different from their compatriots one or two decades ago? Does a formal education, especially business degrees such as MBA determine oneâ¼s success as an entrepreneur? Did your MBA from IIM Calcutta help?
Rediff.com (Nasdaq: REDF)
Mission In The Internet Space To provide world-class online consumer service offerings to Indians worldwide. Rediff.com provides a platform for Indians worldwide to connect with one another online. Rediff.com is committed to offering a personalized and a secure surfing and shopping environment. Rediff.com additionally offers the Indian American community one of the oldest and largest Indian weekly newspapers, India Abroad
Rediff.com has reported a net loss of $2.61 million for the second quarter ended September 2009, as compared to a net loss of $0.42 million posted for the corresponding quarter of the previous fiscal year. Total revenues declined by 43 per cent to $4.19 million during September 2009 ended quarter from $7.32 million posted for the second quarter of the previous fiscal year.
Steps to overcome
Ajit Balakrishnan, chairman and CEO, Rediff.com, has said, ³As we had said in our last earnings call, we have taken a number of steps to improve the customer experience on our site, including the removal of ads from our home page, reduction of intrusive and non-contextual ads on other pages, as a result of which we expected a reduction in our revenue in the upcoming quarters. Accordingly, we saw a decline in revenues for the quarter ended September 30, 2009 by 16 per cent over the previous quarter and by 43 per cent over the corresponding quarter in the previous year in US Dollar terms.´