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Rediff.com Reports Results For The Third Quarter Ended December 31, 2011

Similarly, in the Deals business, we now showcase six to eight deals in each of the 42 cities that we operate in. Of the 72 categories, deals in key categories like restaurants, travel, hobby and personal care are grouped together upfront to aide discovery. The deals offered are priced in the Rs.1000 to Rs.3000 range and provide 30% to 70% discounts on a wide range of services in each city and at a locality level in some of the larger metros.

Specifically, in the Paid mail business, we have introduced a new product for SMEs which enables them to create a website for their business with a domain name of their choice without any IT support. Additionally, customers can offer email on mobile for their employees while retaining administrative controls, get the email on their business domain and many other useful features like photo sharing, ecommerce enabled site with payment gateway and logistic support.

In our Local TV advertising business, we now provide ads across three TV channels and across 12 MSOs in 7 cities, namely - Mumbai, Delhi, Pune, Ahmedabad, Surat, Bangalore and Baroda - with an average coverage of 70% in these cities.

Each of these early stage markets requires us to make investments including, manpower and marketing to be able to execute our strategy of positioning Rediff for the future. Our investments in the last few quarters have been aimed at strengthening our sales team and we have added 65 employees to expand the reach across 42 cities for our key businesses including online media sales, ecommerce and deals, hosting solutions and local TV advertising.

We continue to strengthen our core offerings and the recent launch of Rediff Real Time News Search is a step in this direction. The service delivers fresh, recent results relating to news, people, and events as it happens, within minutes of the actual news event taking place and within milliseconds of a query made. It complements our core online news offering, thus providing consumers a single destination for all news, which in recent times has been one of the fastest growing categories in terms of reach.

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