Digital content and ecommerce marketplace Rediff.com, which was acquired by payments solution provider Infibeam Avenues has appointed Vishal Mehta, founder of Infibeam Avenues, as its new chairman and managing director. Mehta will focus on expanding Rediff’s digital payments and financial services in his new role.
He succeeds Ajit Balakrishnan, who has led the company since its founding in 1996. This leadership change follows Infibeam Avenues Ltd's acquisition of a majority stake in Rediff.com. Mehta will continue as chairman and managing director of Infibeam Avenues while taking on his new role at Rediff.
“I am confident that the best is yet to come and under Vishal’s leadership Rediff.com will undoubtedly drive into new realms of growth and innovation," Balakrishnan said.
In 2007, Mehta and a group of former Amazon colleagues co-founded Infibeam. Its main brand, CCAvenue, processes over $86 billion in transactions annually and serves millions of merchants worldwide.
Mehta said, “I’m honoured to lead Rediff.com, a company that aligns seamlessly with Infibeam Avenues’ culture and operational strengths. Integrating Rediff into the Infibeam ecosystem marks an important milestone in our growth strategy. Together, we will harness our synergies to deliver innovative solutions and greater value to our customers.”
Rediff.com, founded in 1996 by Ajit Balakrishnan, is a Mumbai-based internet company offering news, enterprise email services, and an online marketplace. It is one of India's oldest information companies. In August, Infibeam Avenues, a payments infrastructure company, agreed to acquire a 54.1 per cent stake in Rediff.com for Rs 25 crore.
Founded in 2007, Infibeam is a listed company that provides digital payment solutions and enterprise software platforms to businesses and governments across various sectors.
Infibeam plans to integrate its digital payment services, platform offerings, and AI solutions with Rediff.com to boost user engagement and create new revenue streams. With Rediff.com’s 55 million monthly visitors, Infibeam will cross-sell financial products such as loans, insurance, and investments using AI. The company will also use RediffMONEY to drive product adoption and increase customer lifetime value.