Rediff on the Net receives Intel investment
Mumbai, India, October 28, 1998

Rediff On The Net, India’s largest Web-based online service, today announced that it has received an investment from Intel Corporation. Other financial details were not disclosed.

Intel makes minority investments in companies that it believes can help create new uses for computers or enhance existing computing capabilities. Rediff On The Net, India’s largest Web-based online service, has been rated by CNN as one of the top 50 news-sites in the world. CNN also rated it as the most preferred site for Indians worldwide. Rediff On The Net plans to use the investment money to enrich its host site with up-to-date audio and video technologies and by providing customers with richer e-commerce based Web-sites. This was Intel’s first such investment in an India-based company.

Founded in 1996, Rediff On The Net is the largest web-based online service in India with over 1 million monthly visitors. Its service delivers news, information, free email, chat, personal home pages and online shopping for books, music and hotel reservations to an audience in India and Indians worldwide. The Company is also the largest website builder in India and builds high-end websites for customers in India and worldwide. The Company is privately held, and is headquartered in Mumbai, India. The Rediff On The Net website can be found at http://www.rediff.com.