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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9951)	12/8/1999 10:57:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Rediff.com likely to raise more capital fund MUMBAI, December 7: Rediff On The Net is likely to float a public offering through American depositary receipts (ADR) early next year. Plans to raise the fourth round of venture capital investment are also on. About 7-8% stake is expected to be placed anywhere between $ 8-10 million by the investment made in the content provider. Senior company officials and Ajit Balakrishnan, Chief executive officer have been holding a series of meetings with investment bankers, legal advisors and consultants The company had valued itself close to $150 million in the third round of venture capital funding. Intel has an investment in the portal and it is positively about the investment. The presence of the US-based technology major has also allowed Rediff to seek more financing. As Rediff's user base rose, it outgrew its original infrastructure. Intel engineers provided technology that allows Rediff to support a much larger audience on their current platform and Intel's work with system integrators will help bring them even better technology on the Intel platform. expressindia.com