RedBus explained

redbus
Type:Private
Industry:Online travel
Products:Booking buses, trains and cabs
Predecessors:-->
Successors:-->
Founded:2006[1]
Hq Location City:Bangalore, Karnataka
Hq Location Country:India
Revenue:85 million (2019)[2]
Owners:-->
Parent:MakeMyTrip

redBus is an Indian online bus ticket booking company that provides bus ticket booking through its website and iOS and Android mobile apps. It is headquartered in Bangalore and works like a hub, acting as a medium for a network of more than 3500 bus operators, across the countries of India, Malaysia, Indonesia, Singapore, Peru, and Colombia. It claims to have registered over 180 million trips, with a customer base of over 20 million. In 2018, the company achieved a GMV of, with a 70% share in the Indian online bus ticketing segment.

In 2013, redBus was acquired by Ibibo Group.[3] In 2017, the Ibibo Group was acquired by MakeMyTrip.[4]

History

redBus was founded in 2006 by Phanindra Sama, Sudhakar Pasupunuri and Charan Padmaraju, engineers from the Birla Institute of Technology and Science,[5] who also worked together at various organisations before founding the company. With an initial investment of, the founders began operations in 2006, by tying up with various travel agents for seat reservations through the redBus portal. In the same year the company was selected for the TiE Entrepreneurship Acceleration Program and was mentored on several aspects of the business.[6] The company owns BOGDS, a cloud computing service for bus operators, and SeatSeller, a GDS for bus inventory distribution.[7]

Operation

In 2014, the company appointed Prakash Sangam[8] as its Chief executive officer, who was earlier the Executive Vice President of Info Edge India (Naukri Group), heading Shiksha.com and Jeevansathi.com.[9]

In April 2022, redBus appointed Allu Arjun, as its brand ambassador.[10]

Partnership

In 2012, redBus tied-up with Goa State Road Transport to launch an online ticketing portal. In the same year, the company announced a partnership with the Rajasthan State Road Transport Corporation (RSRTC), following which it started offering RSRTC bus tickets on the portal.[11] [12] Early in 2019, redBus partnered with Acko General Insurance to offer travel insurance for its users to cover accidents, baggage loss, cancellation and bus-type mismatch.[13] It also partnered with Truecaller, to offer bus ticket booking on Android devices.[14] redBus afterwards announced a partnership with Google Maps to display information on busses that ply between cities with the time and date services to enhance user experience.[15] [16]

June 2019, redBus started ride sharing operations - rPool, across Bengaluru, Pune and Hyderabad. rPool is an option that helps ride givers to share(pool) their vehicle to fellow ride takers.[17] [18] [19]

On 26 November 2019, redBus partnered with Amazon India to launch a bus ticket booking service on Amazon.[20] [21]

Funding

In 2007, redBus received its first round of funding of $1 million from SeedFund[6] and undisclosed investors. SeedFund had invested $500,000 in the company while other investors accounted for the remaining $500,000 investment.[11]

In 2009, the company raised a funding of a $2.5 million from Inventus Capital Partners, Seed Fund and other unnamed investors.[3] [11]

In 2011, redBus raised another funding of $6.5 million from Helion Venture Partners, Seedfund and Inventus Capital.[3] [5]

In 2013, redBus was acquired by Ibibo Group, a subsidiary of South Africa’s Naspers.[22] [5] [3]

Awards and recognition

See also

External links

Notes and References

  1. News: redBus Eyes Next Phase Of Growth From Further Expanding International Ops . 18 March 2021 . Inc42 Media . 10 August 2019 . 27 November 2020 . https://web.archive.org/web/20201127012203/https://inc42.com/buzz/redbus-exploring-opportunities-in-vietnam-thailand-and-turkey/ . live .
  2. News: redBus eyes revving up bus ticketing revenues from overseas operations . 18 March 2021 . Business Standard India . 27 February 2020 . 28 February 2020 . https://web.archive.org/web/20200228165841/https://www.business-standard.com/article/pti-stories/redbus-eyes-revving-up-bus-ticketing-revenues-from-overseas-operations-120022701096_1.html . live .
  3. News: Tencent, Naspers JV Ibibo Buys Redbus To Grow Its Online Travel Empire In India. TechCrunch. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801123856/https://techcrunch.com/2013/06/21/tencent-naspers-india-jv-ibibo-buys-redbus-to-grow-its-online-travel-empire/. live.
  4. Web site: MakeMyTrip Limited and ibibo Group to combine . live . https://web.archive.org/web/20181123070037/https://www.naspers.com/news/makemytrip-limited-and-ibibo-group-to-combine . 2018-11-23 . 2018-10-28 . www.naspers.com.
  5. News: Sharma. Samidha. redBus sold to Ibibo in one of the biggest overseas internet deals. The Times of India. 22 June 2013. 1 August 2019. 29 July 2019. https://web.archive.org/web/20190729161019/https://timesofindia.indiatimes.com/business/india-business/redBus-sold-to-Ibibo-in-one-of-the-biggest-overseas-internet-deals/articleshow/20704509.cms. live.
  6. News: Warrier. Shobha. The amazing success story of redBus. Rediff.com. 19 October 2010. 1 August 2019. 4 August 2019. https://web.archive.org/web/20190804070304/http://business.rediff.com/slide-show/2010/oct/19/slide-show-1-the-amazing-success-story-of-redbus.htm#1. live.
  7. News: Naspers-owned redBus completes 30M ticket sales, sees 3X growth in mobile transactions. Techcircle. 16 July 2014. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801123857/https://www.techcircle.in/2014/07/16/naspers-owned-redbus-completes-30m-ticket-sales-sees-3x-growth-in-mobile-transactions. live.
  8. Web site: About Red Bus . 15 June 2023 . 10 June 2023 . https://web.archive.org/web/20230610012146/https://www.redbus.in/info/aboutus . live .
  9. News: ibiboGroup appoints Prakash Sangam as redBus CEO, founders fully exit the startup. Techcircle. 11 July 2014. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801123859/https://www.techcircle.in/2014/06/11/ibibogroup-appoints-prakash-sangam-as-redbus-ceo-founders-fully-exit-the-startup. live.
  10. News: Tewari. Saumya. redBus appoints Mahendra Singh Dhoni as brand ambassador. Mint. 15 April 2019. 1 August 2019. 18 July 2019. https://web.archive.org/web/20190718035648/https://www.livemint.com/industry/advertising/redbus-appoints-mahendra-singh-dhoni-as-brand-ambassador-1555321742450.html. live.
  11. News: RedBus Announces Tie-Up With RSRTC. Medianama. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801124334/https://www.medianama.com/2012/07/223-redbus-announces-tie-up-with-rsrtc/. live.
  12. News: Dharmakumar. Rohin. Redbus Has The Hot Ticket. Forbes India. 5 March 2012. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801124333/http://www.forbesindia.com/printcontent/32382. live.
  13. News: Srivats. K R. Acko partners Goibibo for travel insurance foray. Business Line. 16 January 2019. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801124332/https://www.thehindubusinessline.com/money-and-banking/acko-partners-goibibo-for-travel-insurance-foray/article26006200.ece. live.
  14. News: Singh. Jagmeet. Truecaller, RedBus Partner to Offer Bus Ticket Booking on Android Devices. Gadgets (NDTV). 1 April 2019. 1 August 2019. 18 July 2019. https://web.archive.org/web/20190718035004/https://gadgets.ndtv.com/apps/news/truecaller-redbus-bus-ticket-booking-app-android-india-2015847. live.
  15. News: redBus Is Now ON Google Maps. Digit.in. 31 August 2018. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801124333/https://www.digit.in/press-release/general/redbus-is-now-on-google-maps-43209.html. live.
  16. News: Roundup: Mahindra Pantero, MakeMyTrip, RedBus, Mahindra Comviva. Medianama. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801124334/http://www.medianama.com/2013/02/223-roundup-mahindra-pantero-makemytrip-redbus-mahindra-comviva/. live.
  17. Web site: Bikepool & Carpool for Professionals . 30 April 2020 . 28 April 2020 . https://web.archive.org/web/20200428224138/https://www.redbus.in/rpool . live .
  18. Web site: RedBus Launches Carpooling Service rPool in Three Cities. 12 June 2019. 30 April 2020. 10 December 2019. https://web.archive.org/web/20191210041121/https://inc42.com/buzz/redbus-launches-carpooling-service-rpool-in-three-cities/. live.
  19. News: RedBus launches carpooling. The Economic Times. Singh. Shipra. 30 April 2020. 5 April 2023. https://web.archive.org/web/20230405020948/https://economictimes.indiatimes.com/wealth/personal-finance-news/redbus-launches-carpooling/articleshow/69798125.cms?from=mdr. live.
  20. Web site: Amazon India launches bus ticket bookings in tie-up with redBus. 26 November 2019. 27 November 2019. 28 November 2019. https://web.archive.org/web/20191128000608/https://www.livemint.com/companies/news/amazon-india-launches-bus-ticket-bookings-in-tie-up-with-redbus-11574763817267.html. live.
  21. Web site: 2023-01-26 . Bus ticketing platform redBus estimates 75 lakh Indians travelling during Republic Day weekend . 2023-06-03 . Business Today . en . 3 June 2023 . https://web.archive.org/web/20230603134039/https://www.businesstoday.in/latest/in-focus/story/bus-ticketing-platform-redbus-estimates-75-lakh-indians-travelling-during-republic-day-weekend-367710-2023-01-26 . live .
  22. News: Millward. Steven. Why Sell to Ibibo? And Why Now? Redbus CEO Phanindra Sama Explains. Tech in Asia. 24 June 2013. 1 August 2019. 31 July 2019. https://web.archive.org/web/20190731033727/https://www.techinasia.com/redbus-cofounder-explains-ibibo-acquisition. live.
  23. News: EyeforTravel: Online Travel Insights. Eyefortravelblog. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801123857/https://eyefortravelblog.blogspot.com/2014/04/winners-of-mobile-innovation-in-travel.html. live.
  24. News: BS Annual Awards: Saluting the spirit of entrepreneurship. Business Standard. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801123857/https://www.business-standard.com/article/companies/bs-annual-awards-saluting-the-spirit-of-entrepreneurship-114033100015_1.html. live.
  25. News: e-Brands Face Trust Shuffle: Brand Trust Report Google leads for fifth year; Facebook falls; Twitter misses the bus. The Brand Trust Report. 1 August 2019. 1 August 2019. https://web.archive.org/web/20190801123858/https://thebrandtrustreport.wordpress.com/tag/redbus-in/. live.

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