On-line bus ticketing firm

redBus is an Indian on-line bus ticketing platform offering ticket reserving facility by way of its web site, iOS and Android cell apps. Headquartered in Bengaluru,[1]India, it connects bus travellers with a community of over 2500 bus operators,[2][3] throughout India, international locations in South East Asia and Latin America. redBus is a subsidiary of Ibibo Group.[4] The platform can be part of India’s main on-line journey firm MakeMyTrip Restricted.[2] redBus at present runs in six international locations – India, Malaysia, Indonesia, Singapore, Peru and Colombia and has thus far registered over 180 million journeys,[2] with a buyer base of over 20 million.[2] In 2018, the corporate achieved a GMV of 50 billion (equal to 54 billion or US$750 million in 2019), with a 70% share within the Indian on-line bus ticketing phase.[3]

Historical past[edit]

redBus was based in 2006 by Phanindra Sama,[4] Sudhakar Pasupunuri and Charan Padmaraju, engineers from the Birla Institute of Expertise and Science,[5] who additionally labored collectively at numerous organisations earlier than founding the corporate.
With an preliminary funding of 500,000 (equal to 1.3 million or US$18,000 in 2019), the founders started operations in 2006, by tying up with numerous journey brokers for seat reservations by way of the redBus portal. In the identical 12 months the corporate was chosen for the TiE Entrepreneurship Acceleration Program and was mentored on a number of facets of the enterprise.[6]
The corporate owns BOGDS, a cloud computing service for bus operators, and SeatSeller, a GDS for bus stock distribution.[7]

Operation[edit]

In 2014, the corporate appointed Prakash Sangam as its Chief government officer, who was earlier the Govt Vice President of Data Edge India (Naukri Group), heading Shiksha.com and Jeevansathi.com.[8]
In April 2019, redBus appointed cricketer Mahendra Singh Dhoni, as its model ambassador.[2]

Partnership[edit]

In 2012, redBus has tied-up with Goa State Highway Transport to launch a web-based ticketing portal powered by redBus’s BOSS. In the identical 12 months, the corporate has introduced a partnership with Rajasthan State Highway Transport Company (RSRTC), following which it begins providing RSRTC bus tickets on the portal.[9][10] Early in 2019, redBus partnered with Acko Normal Insurance coverage to supply journey insurance coverage for its customers to cowl accidents, baggage loss, cancellation and bus-type mismatch.[3] It additionally partnered with Truecaller, an organization well-liked for its caller ID and spam blocking options for cell gadgets, to supply bus ticket reserving on Android gadgets.[11] redBus introduced a partnership with Google Maps to current travellers with data on busses that ply between cities with the precise time and data on the place to board the bus.[12][13]

June 2019, redBus began journey sharing operations – rPool, throughout Bengaluru, Pune and Hyderabad. rPool is an eco-smart possibility that helps journey givers to share(pool) their automobile to fellow journey takers. It is part of the general gig economic system.
[14][15][16]

26 November 2019 redBus partnered with Amazon India to launch a bus ticket reserving service on Amazon. [17]

Funding[edit]

In 2007, redBus obtained its first spherical of funding of $1 million (₹30 million) from SeedFund[6] and undisclosed buyers. SeedFund had invested $500,000 within the firm whereas different buyers accounted for the remaining $500,000 funding.[9]

In 2009, the corporate raised a funding of a $2.5 million from Inventus Capital Companions, Seed Fund and different unnamed buyers.[1][9]

In 2011, redBus raised one other funding of $6.5 million from Helion Enterprise Companions, Seedfund and Inventus Capital.[1][5]

In 2013, redBus was acquired by Ibibo Group, a subsidiary of South Africa’s Naspers.[4][5][1]

Awards and recognition[edit]

  • 2012: Named as a Quick Firm amongst the world’s 50 most modern firms in 2012[5]
  • 2014: ‘World Cell Innovation’ in Journey Award by Eyefortravel[18]
  • 2014: the Most Progressive Firm of the 12 months award by Enterprise Customary[19]
  • 2015: ‘The Most Trusted Model’ by IBC InfoMedia in 2015[20]
  • 2015: Most trusted model within the on-line journey class and the 13th most trusted web model within the total rankings as per the Model Belief Report, India Research 2015.[21]

See additionally[edit]

References[edit]

  1. ^ a b c d “Tencent, Naspers JV Ibibo Buys Redbus To Develop Its On-line Journey Empire In India”. TechCrunch.
  2. ^ a b c d e Tewari, Saumya (15 April 2019). “redBus appoints Mahendra Singh Dhoni as model ambassador”. Mint.
  3. ^ a b c Srivats, Ok R (16 January 2019). “Acko companions Goibibo for journey insurance coverage foray”. Enterprise Line.
  4. ^ a b c Millward, Steven (24 June 2013). “Why Promote to Ibibo? And Why Now? Redbus CEO Phanindra Sama Explains”. Tech in Asia.
  5. ^ a b c d Sharma, Samidha (22 June 2013). “redBus bought to Ibibo in one of many greatest abroad web offers”. The Occasions of India.
  6. ^ a b Warrier, Shobha (19 October 2010). “The superb success story of redBus”. Rediff.com.
  7. ^ “Naspers-owned redBus completes 30M ticket gross sales, sees 3X development in cell transactions”. Techcircle. 16 July 2014.
  8. ^ “ibiboGroup appoints Prakash Sangam as redBus CEO, founders absolutely exit the startup”. Techcircle. 11 July 2014.
  9. ^ a b c “RedBus Pronounces Tie-Up With RSRTC”. Medianama.
  10. ^ Dharmakumar, Rohin (5 March 2012). “Redbus Has The Scorching Ticket”. Forbes India.
  11. ^ Singh, Jagmeet (1 April 2019). “Truecaller, RedBus Companion to Supply Bus Ticket Reserving on Android Units”. Devices (NDTV).
  12. ^ “redBus Is Now ON Google Maps”. Digit.in. 31 August 2018.
  13. ^ “Roundup: Mahindra Pantero, MakeMyTrip, RedBus, Mahindra Comviva”. Medianama.
  14. ^ https://www.redbus.in/rpool
  15. ^ https://inc42.com/buzz/redbus-launches-carpooling-service-rpool-in-three-cities/
  16. ^ https://economictimes.indiatimes.com/wealth/personal-finance-news/redbus-launches-carpooling/articleshow/69798125.cms?from=mdr
  17. ^ https://www.livemint.com/firms/information/amazon-india-launches-bus-ticket-bookings-in-tie-up-with-redbus-11574763817267.html
  18. ^ “EyeforTravel: On-line Journey Insights”. Eyefortravelblog.
  19. ^ “BS Annual Awards: Saluting the spirit of entrepreneurship”. Enterprise Customary.
  20. ^ “e-Manufacturers Face Belief Shuffle: Model Belief Report Google leads for fifth 12 months; Fb falls; Twitter misses the bus”. The Model Belief Report.
  21. ^ “redBus is essentially the most trusted model : Model Belief Report 2015”. www.firstreport.in. 2 April 2015.


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