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Wednesday , 23 May 2018
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redBus – Company Profile

redBus is the world’s foremost inter-city bus ticketing service. The company launched operations as a startup in 2006 and was later acquired by Ibibo Group in 2013. The company had humble beginnings after its launch, but it has grown significantly over the years. After registering huge success across India, redBus has launched operations across the globe. The company has operations in India, Colombia, Peru, Indonesia, Malaysia and Singapore.

The company has been successful in bringing together more than 2,300 bus operators and around 1 lakh routes across the globe. The company’s mobile app has more than 8 million registered users, which makes it the biggest community of bus travellers in the world. RedBus has been credited with revolutionizing bus travel and bus ticket booking by providing user-friendly and hassle-free features to bus travellers.

History:

It is said that necessity is the mother of invention, something that resonates with the story of redBus. The idea came to Hyderabadi entrepreneur, Phanindra Sama, when he could not book a bus ticket to visit his family during Diwali in 2005. Phanindra tried to book a ticket by contacting the best travel agent, but he still could not get a ticket because the ticket booking system was manual at that time and full of problems. The experience had unsettled Phanindra and he decided that he should do something to change the bus ticket booking system. He teamed up with his BITS Pilani batch mates and started working to find a solution. Initially, Phanindra and his team were not targeting business, but once the idea clicked, they launched redBus in 2006.

Funding:

RedBus has received funding worth around $10.1 million through four rounds of funding. After its acquisition in 2013, more funds were made available by parent company Ibibo.

Acquisitions:

RedBus acquired Busportal in 2016 for an undisclosed amount. Busportal was a Peru-based bus ticketing platform under the management of Empresa Digital Peruana S.A.C. The acquisition helped redBus to gain entry into the bus ticketing business in Latin America, which includes countries such as Chile, Colombia and Peru.

Competition:

RedBus competes with other bus ticketing platforms and travel companies such as Abhibus, Travelyaari, Makemytrip, Ticketgoose, etc.

About the Founders:

RedBus was founded by Phanindra Sama, Charan Padmaraju, and Sudhakar Pasupunuri in 2006. The company’s top management has witnessed several changes over the years. Phanindra Sama served as the CEO of redBus from 2006 to 2014. After 2014, Phanindra Sama has taken up professional assignments with other companies. In 2014, Prakash Sangam was appointed as the CEO of redBus.

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