Redbus.in

redBus.in
Privately held company
Industry Electronic commerce
Founded Bangalore, Karnataka, India (August 2006 (2006-08))
Founder
  • Phanindra Reddy Sama
  • Sudhakar Pasupunuri
  • Charan Padmaraju
Headquarters Karle Premium, #1 Old Airport Road, Kodihalli, Bangalore
Area served
 India, Malaysia, Singapore
Key people
  • Prakash Sangam(CEO)
Revenue Increase ₹ 600 crore (March 2013)[1]
Number of employees
 750 (Jan 2014)[1]
Website redbus.in

redBus is an Indian maker of bus ticket booking through its website, iOS and Android mobile apps. In 2013, redBus was acquired by the Ibibo Group for $100 million, [2] which is a joint venture by the South African Multinational Company, Naspers. redBus has its offices in Bangalore, Hyderabad, Chennai, Ahmedabad, Coimbatore, Mumbai, Pune, Vijayawada, Kolkata, Vishakhapatnam, and Singapore. In the year 2015, redBus started its operation in the international market with its business opening in Singapore and Malaysia. [3]

redBus' Former CEO, Phanindra Reddy Sama was recently selected by Endeavor as a high impact entrepreneur.[4][5][6] Also, Businessworld voted Phanindra Reddy Sama as one of the top 5 most promising entrepreneurs in India.[7]

The current CEO of redBus is Mr.Prakash Sangam (Years active). Before the acquisition by Ibibo, Mr. Phanindra Sama, the founder of redBus.in, acted as the CEO.[8]

Present scenario

Phanindra Reddy Sama and Charan Padmaraju, the engineers from BITS Pilani who created the pioneering bus ticketing service redBus in August 2006, have sold their stake in the venture to the Ibibo Group, a joint venture of South Africa's Naspers and China's Tencent in June 2013.[9] redBus is estimated to have a market share of 65 percent.[10][11] [12]

In April 2014, redBus launched hotel booking powered by ibiboGroup's back end infrastructure on its website.[13] In August 2014, redbus teamed up with Uber (an on-demand cab transportation application) to offer free rides to bus stops.[14] PayU India has entered into an exclusive partnership with redBus to offer cash-back discounts to customers who use its wallet PayU Money to buy tickets, boosting transactions 25% since the arrangement started in April.[15]

Awards and recognition

References

  1. 1 2 "The amazing success story of redBus - Rediff.com Business". Business.rediff.com. 19 October 2010. Retrieved 4 October 2012.
  2. ↑ "redBus sold to Ibibo in one of the biggest overseas internet deals". indiatimes.com. Jun 21, 2013. Retrieved 30 July 2013.
  3. ↑ "redBus launches services in Singapore and Malaysia!". business-standard.com. 27 July 2015. Retrieved 30 July 2015.
  4. ↑ Nikita Upreti. "How redBus got started". iamstarting.com.
  5. ↑ "redBus' Sama joins Endeavor's international network". Indiapost.com. 24 March 2009. Retrieved 17 June 2008.
  6. ↑ Deepti Chaudhary (16 March 2009). "Phanindra Sama becomes 2nd Indian entrepreneur to join Endeavor". HT Media. Retrieved 17 June 2008.
  7. ↑ Dhanya Krir (20 March 2009). "Smooth Journey, So Far". Business World. Retrieved 17 June 2008.
  8. ↑ Anirban sen (11 June 2014). "Ibibo-owned redBus gets new CEO as co-founders quit". HT Media. Retrieved 17 June 2014.
  9. ↑ "Ibibo acquires online bus ticketing service redBus - The Times of India". The Times Of India.
  10. ↑ Archana Rai (10 September 2007). "Enterprising trio takes redBus to success". HT Media. Retrieved 15 June 2008.
  11. ↑ Ruchi Hajela (1 Nov 2007). "Country roads: online bookers court hinterland bus rides". Hindustan Times. Retrieved 15 June 2008.
  12. ↑ "Online bus ticket booking". Chennai, India: The Hindu. 5 Feb 2007. Retrieved 15 June 2008.
  13. ↑ Jayadevan PK (28 April 2014). "Why Did redBus Launch Hotel Booking?". NextBigWhat. Retrieved 28 April 2014.
  14. ↑ http://www.travelbizmonitor.com/redbusin-partners-with-uber-app-to-offer-free-rides-to-bus-stops-24856
  15. ↑ "PayUMoney ties up with redBus to woo customers to wallet". http://articles.economictimes.indiatimes.com/. The Economic Times. Retrieved 2015-09-10. External link in |website= (help)
  16. ↑ "ibibo Group". Naspers.
  17. ↑ 31 March 2014 (31 March 2014). "BS Annual Awards: Saluting the spirit of entrepreneurship". Business Standard.
  18. ↑ "Past Awards". Marico Innovation foundation.
  19. ↑ "Porter Prize 2012: From the CEOs Desks". The Viewspaper.
  20. ↑ "Courage defines 2011 IT project awards". CIO ASIA.
  21. ↑ "redBus". siliconindia.

External links

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