Indian web-portal rediff.com celebrated its fifth anniversary on the Nasdaq yesterday, reports CNBC-TV18.

Rediff India CEO Ajit Balakrishnan rang the opening trade bell at the Nasdaq marketside. Speaking on the occasion Ajit Balakrishnan said, "It is truly an honor to have Rediff.com open The NASDAQ Stock Market today, especially given that this day marks our move to The NASDAQ Global Market from The NASDAQ Capital Market.” 

He also said, “We are perhaps the only pure play Internet company available for people to invest in for the Indian market. So I presume it has something to do with all of that.”

Balakrishnan further stated, "Rediff has always focused on product innovation based on our users’ requirements, as part of our core strategy. We have also stepped up efforts to increase our reach to the smaller cities across India, by providing these Internet users – relevant products and services, local content and vernacular language interface. We believe that these initiatives have enabled us to provide strong returns to our shareholders."

“Most importantly, we have survived 10 years of a brutal kind of competitive situation in the world internet market and unlike most other industries, India has, from the very inception, been open to international competition,” Balakrishnan added.  

Rediff.com is one of the premier worldwide online providers of news, information, communication, entertainment and shopping services for Indians worldwide. Rediff.com provides a platform for Indians worldwide to connect with one another online. Founded in 1996, Rediff.com is headquartered in Mumbai, India with offices in New Delhi and New York, USA.