agencyfaqs! News Bureau
Mumbai, September 15
In an attempt to consolidate its position in the Internet space, ICICI plans to enter into a strategic alliance with rediff.com, a leading horizontal portal focusing on the Indian community in India and abroad.
As part of the alliance, rediff.com, will take a 10 per cent stake in traveljini.com, which is a travel planning and booking site launched by ICICI in June this year. rediff would also acquire a 5 per cent stake in the ICICI-promoted billjunction.com. Launched in May, billjunction.com is a site that allows customers to receive bills and make payments online.
Both traveljini and billjunction will be exclusive channels for travel and bill payment on the rediff.com site. The two channels will be paying channel partnership fees for being exclusive partners in their respective categories.
The alliance is a symbiotic arrangement intended to benefit both parties. Billjunction and traveljini, as channels on the site, will get immediate access to rediff's large consumer base. On the other hand rediff would be able to offer its customers value-added services from the ICICI websites.
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