| Tachyon has built a software product 'Quillpad', which enables internet users to type in English alphabets to input words in other languages in their respective scripts on the basis of phonetics, allowing them to communicate in the language of their choice. Rediff.com has adopted this technology in its email and messenger platforms. |
| "We aspire to encourage promising start-ups to develop world-class innovative products that would support our business. As part of such efforts, we are delighted to have an opportunity to invest in Tachyon. Nowadays, capital is falling through the roof in India. The difference is that we let entrepreneurs work on their passion and not interfere with the day-to-day operations," Ajit Balakrishnan, founder & CEO, Rediff.com said. |
| Balakrishnan added he was considering listing in India. "Logically that should happen since we are an Indian firm, but we have not decided the time. It will be within the next five years," he said. |
| The Nasdaq-listed Rediff, which has cash reserves of close to $60 million and adds about $1 million to the reserves on an average every quarter, is effectively using its cash backing to venture out after going through a decade of ups and down in the internet domain. |
| "We have lived to tell this tale," said Balakrishnan. He dismissed speculations that he might sell out to the global majors such as AOL or Yahoo who are looking at entering or strengthening their Indian base. |
| Rediff.com has a user base of close to 50 million with 90 per cent of them in India and with necessary utilities such as bill payments, travel reservations coming on to the internet and with growth in broadband, this company is set to reap the benefits of this growth. |
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