Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (754)	2/16/2000 8:13:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT Rediff picks 26% in footforward.com (Thursday, February 17, 2000) Our Corporate Bureau in Mumbai Rediff.com, one of India's biggest portals, has turned into an incubator by picking up a 26 per cent stake in a new portal to be launched today called footforward.com. According to Santoshi Nadkarni, chief executive officer of the company, Footforward Communications, the alliance with Rediff will be two pronged. "Firstly, we have received incubator funding from Rediff in exchange for a 26 per cent stake in the company. Secondly, the site will be the women's portal for Rediff and will have a link through it. This is expected to act as a significant promotion initiative for our portal," Nadkarni told Business Standard. Ajit Balakrishnan, chief executive officer, Rediff.com declined to reveal details on the investment to be made by Rediff. However, he said that Rediff will promote all ideas that will generate content for his portal. "We cannot reveal financial details of our investment due to various reasons. We have decided that we will act as incubators to generate content which is necessary to run any portal. This will also help us in retaining talented young people," he said. The portal is expected to go live today. Balakrishnan said that the valuation has been done on the basis of international norms despite the fact that the portal is yet to commence its operations. Nadkarni said that the portal will be positioned as a community building interactive site. It will cater to issues related to beauty, pregnancy, baby care, career and work towards creating a home-based entrepreneur. The revenue streams for the company will be through advertising and e-commerce. However, the company is yet to work out details. "Companies like L'Oreal, Maybelline and so on will distribute prizes through the portal. We will function as an independent entity with an independent server and content, she said. Nadkarni admitted that women at home do not surf the net as the upcoming dotcom startups would like to have. "Women have to be interested in surfing the net. This will happen only when they know that the Internet is effective tackling their problems. We are not merely a portal for information. We will have counselling as well," she added. -The Business Standard