Balakrishnan, 57, who had already started two successful companies when he launched Rediff in 1995. At age 24 he cofounded Rediffusion, an advertising agency that is now partially owned by Dentsu, the Japanese giant, and New York's Young & Rubicam. It is currently the fifth-largest advertising agency in India. (Despite the similarity in names, Rediffusion and Rediff have no formal relationship.) When Balakrishnan was 32, he cofounded PSI Data Systems, a computer manufacturing company that he sold to Bull, the now troubled but still independent French company, in 1989. Six years after that sale, at age 47, he plunged into India's fledgling IT industry with the launch of Rediff
Balakrishnan funded the company out of his own pocket until, in 1998, Bill Draper's venture capital fund invested about $1 million (then 25% of the company). It currently owns 15%. Rediff went public on Nasdaq in 2000, at $12 per ADR, and today is hovering around $21.
Its advertising and e-commerce fees may be modest by Western standards, but Rediff just had its second straight profitable quarter, netting $307,000. That's enough to merit a $600 million market capitalization. Balakrishnan and a small group of associates hold 32%.
The Rediff.com stock trade under the ticker symbol "REDF''. trading on the Nasdaq SmallCap market from the Nasdaq National Market