Infibeam founder Vishal Mehta becomes the new chairman and managing director of Rediff

Digital content and e-commerce marketplace Rediff.com, which was acquired by payment solutions provider Infibeam Avenues, has appointed Vishal Mehta, founder of Infibeam Avenues, as its new president and managing director. In his new role, Mehta will focus on developing Rediff’s digital payments and financial services.

He will replace 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 to serve as president 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 enter new areas of growth and innovation,” Balakrishnan said.

In 2007, Mehta founded Infibeam with a group of former Amazon colleagues. Its primary brand, CCAvenue, processes over $86 billion in transactions annually and serves millions of merchants worldwide.

Mehta said: “I am honored to lead Rediff.com, a company that fits seamlessly into the culture and operational strengths of Infibeam Avenues. The integration of Rediff into the Infibeam ecosystem represents an important milestone in our development strategy. Together, we will leverage 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 news companies. In August, payment infrastructure company Infibeam Avenues agreed to acquire 54.1% stake in Rediff.com for Rs 25 crore.

Founded in 2007, Infibeam is a publicly traded company that provides digital payments solutions and enterprise software platforms to enterprises and governments across various sectors.

Infibeam plans to integrate its digital payment services, platform offerings and AI solutions with Rediff.com to increase user engagement and create new revenue streams. With 55 million monthly visitors to Rediff.com, Infibeam will cross-sell financial products such as loans, insurance and investments using artificial intelligence. The company will also leverage RediffMONEY to increase product adoption and increase customer lifetime value.