A source says Google, Yahoo, Microsoft and AOL may be looking east for their next acquisition; in particular, at India-based Rediff, a consumer internet portal with a wide spectrum of users.

Rediff's stock, which appears on the NASDAQ, enjoyed an upward turn last week, from $17.94 to $25.41 per share, after launching a website that enables consumers to submit user-generated content at no cost. Content includes audio, video and images. Reported valuation leaped to $1 billion.

Fawning analysts suggest this puts Rediff in the $25-per-share club if an acquisition occurs. AOL and Microsoft are also rumored to be looking at the portal.

With its slew of online communication and entertainment features, as well as consumer commerce services, Mashable suggests Yahoo may present the winning bid. However, deeper penetration in India wouldn't hurt Google or Microsoft's coffers either.

India continues to maintain a formidable online presence in terms of internet provisions.