Introduction to RedBus:
RedBus is an online ticket booking company that provides bus ticket booking through IOS and Android apps or from their website RedBus.in. It’s headquarters is Located in Banglore, Karnataka, India. It operates in 6 countries: India, Malaysia, Singapore, Indonesia, Peru, and Colombia, RedBus claims it has sold over 220 million bus tickets worldwide through the RedBus website and app.
RedBus was founded in 2006, by Phanindra Sama, Charan Padmaraju, and Sudhakar Pasupunuri, engineers from the Birla Institute of Technology and Science.
RedBus Success:
Back in 2005, Phanindra a 25-year-old young engineer in Banglore found a scattered traveling market, he was trying to get a ticket for his traveling and he called an agent for a ticket but the agent couldn’t manage to get a ticket, and asked Phanindra to manage a ticket from another agent, here sudden Phanindra gets idea why the agents are not knowing more detail about the busses and their timings.
Phanindra used to work in corporate later he quit his job, the story of RedBus begins with the three engineers in January 2006, three engineers with INR 5 Lakh started figuring out the actual problem they made a lot of surveys of bus drivers, their routes, and figured out the solution.
They tried to sell the software but that didn’t make them pay off. then they came to know about the TiE Entrepreneurship Acceleration Program, Bangalore. They met the TiE teams to discuss their plan and the TiE assigned three mentors to them those mentors asked Phanindra and his friends to start their startup.
In 2007, RedBus onboarded more than 50 operators and ranked in sales up to INR 5 Crore, in the same year, they managed to get funds from the investors and added some special and new features like Bus tracking, Verified rating, and reserved seats for women, RedBus was skyrocketed and made a big change in the traveling industry.
In 2013, RedBus was acquired by the IBIBO group for INR 800 Crore, marking the largest acquisition in the Indian startup ecosystem. Today redBus is currently operating in 10,000+ pin codes, selling 6 crore+ tickets annually.
RedBus Investors:
RedBus has 8 eight institutional investors, including Seefunds, Helion Venture Partners, Athera, TiE and Inventus. Seefund is the largest investor in RedBus among all the investors.
Achievements of RedBus:
- RedBus became the first company in India to sell more than 10 million tickets online.
- In 2014, RedBus won the “Global Mobile Innovation” in Travel Award from Eyefortravel.
- “Most Innovative Company of the Year” award from Business Standard.
- The Most Trusted Brand” award from IBC InfoMedia.
- Forbes magazine named RedBus one of the top 5 startups.
Competitors for RedBus:
- AbhiBus
- Ixigo
- yatra
- goibibo
- makemytrip
- cleartrip
- irctc
- ticketgoose
- moovit
- zingbus
- cityflo
- trabol
- travelyaari
- vexere jsc
- railyatri
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