Anil Ambani’s Reliance Broadcast Network Limited (RBNL) has launched India’s first Talk Internet Radio, BIG Net Radio enabling users to listen to radio channels over Internet (no music channels though). Currently, the radio offers three channels – humour, celebrity and devotional.
The Internet radio talk is primarily aimed at netizens who have a good broadband connection and a logical extension is the availability to mobile users, once 3G is launched.
Rediff Acquires Founder Ajit Balakrishnan’s Company, VuBites
Rediff has acquired VuBites, a television advertising company started by Ajit Balakrishnan. VuBites enables one to create TV advertising and recommends TV advertising slots and the target segment includes local and small businesses.
Essentially, Vubites brings the power of TV advertising to small and local businesses and offers a suite of three web-based tools that help small businesses to advertise on TV:
- a tool to create TV ads for free,
- a tool to plan and buy TV time to match the geographical and socioeconomic profile of their users a secure delivery system to display these ads at the city and sub-city level.
“The Board of Directors of Rediff.com India Limited (“Rediff”) has proposed by a resolution passed at their meeting held on October 26, 2010 to acquire 100% stake in Vubites India Pvt Ltd (“Vubites” or “the Company”), as a going concern. The total consideration for the purpose of the said acquisition is fixed at Rs.150 Million (USD 3.38 Million)” [SEC filing]
As a company, Rediff has been gung-ho about local market, but if you look at their offering and execution, a lot needs to be achieved. Vubites is a great acquisition only and only if the company can sell their advertising slots at premium and can really reach out to the small business community.
An Emotional Read : Remember Rediff ?
Germany based Axel Springer has acquired the option of increasing its 19.1 percent investment in the coming years and take over the majority of Bag It Today, an Internet-based lifestyle marketplace from India Today group.
Axel Springer has increased its presence in India with acquisition of Carwale.