Redbus.in

redBus
Privately
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, Windows Phone, 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 several Indian cities. In 2015, the firm started its operation in other countries with offices in Singapore and Malaysia. [3]

The current CEO of redBus is Mr.Prakash Sangam Before the acquisition by Ibibo, Phanindra Sama, the founder of redBus.in, acted as the CEO.[4]

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.[5] redBus is estimated to have a market share of 65 percent.[6][7] [8]

In April 2014, redBus launched hotel booking powered by ibiboGroup's back end infrastructure on its website.[9] In August 2014, redbus teamed up with Uber (an on-demand cab transportation application) to offer free rides to bus stops.[10] 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.[11]

Safety Concerns

A public petition filed by a passenger demanding that online ticketing company redBus guarantee the safety of women during bus journeys booked on its platform has turned the spotlight once more on the issue of accountability of technology startups that link consumers with service providers.[12]

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. ↑ Anirban sen (11 June 2014). "Ibibo-owned redBus gets new CEO as co-founders quit". HT Media. Retrieved 17 June 2014.
  5. ↑ "Ibibo acquires online bus ticketing service redBus - The Times of India". The Times Of India.
  6. ↑ Archana Rai (10 September 2007). "Enterprising trio takes redBus to success". HT Media. Retrieved 15 June 2008.
  7. ↑ Ruchi Hajela (1 Nov 2007). "Country roads: online bookers court hinterland bus rides". Hindustan Times. Retrieved 15 June 2008.
  8. ↑ "Online bus ticket booking". Chennai, India: The Hindu. 5 Feb 2007. Retrieved 15 June 2008.
  9. ↑ Jayadevan PK (28 April 2014). "Why Did redBus Launch Hotel Booking?". NextBigWhat. Retrieved 28 April 2014.
  10. ↑ http://www.travelbizmonitor.com/redbusin-partners-with-uber-app-to-offer-free-rides-to-bus-stops-24856
  11. ↑ "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)
  12. ↑ "Women’s safety in spotlight after petition against redBus". timesofindia-economictimes. Retrieved 2016-04-22.
  13. ↑ "ibibo Group". Naspers.
  14. ↑ 31 March 2014 (31 March 2014). "BS Annual Awards: Saluting the spirit of entrepreneurship". Business Standard.
  15. ↑ "Past Awards". Marico Innovation foundation.
  16. ↑ "Porter Prize 2012: From the CEOs Desks". The Viewspaper.
  17. ↑ "Courage defines 2011 IT project awards". CIO ASIA.
  18. ↑ "redBus". siliconindia.

External links

This article is issued from Wikipedia - version of the Friday, April 22, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.