How does redBus make money?
The company makes its money from the commission it earns on each ticket—Rs30-50. Expanding its reach, redBus also sells tickets at post offices. The firm is now all set to become the country’s largest bus service aggregator.
How did redBus started?
The initial idea of redBus to set up a site that allowed customers to book bus tickets in a location-independent manner, was triggered by Phanindra’s inability to visit his family during the Diwali season of 2005 due to lack of an available bus ticket.
Is redBus profitable?
Absolutely! In India, far more passengers travel by buses, compared to other means of transport like trains and flights. Moreover, we are already profitable, which means it is a sustainable business. We have probably about 60 per cent of market share.
How much did redBus sell for?
Redbus to be Acquired by ibibo Group For $138 million [Updated] The biggest deal in the Indian internet startup scene is on the verge of completion.
Who is the founder of redBus in?
Phanindra Sama
Charan PadmarajuSudhakar Pasupunuri
redBus.in/Founders
redBus was founded in 2006 by Phanindra Sama, Sudhakar Pasupunuri and Charan Padmaraju, engineers from the Birla Institute of Technology and Science , who also worked together at various organisations before founding the company.
Who is the CEO of redBus?
Prakash Sangam (Jun 2014–)
redBus.in/CEO
Prakash Sangam, CEO Prakash Sangam has been Chief Executive Officer of redBus since June 2014. Prior to redBus. He served as an Executive Vice President of Info Edge India (Naukri group), heading two group businesses namely Shiksha.com and Jeevansathi.com.
Who bought redBus?
ibiboGroup, a joint venture between South Africa’s Naspers and Chinese Internet company Tencent has acquired a controlling stake in online bus ticketing firm RedBus, valuing it at about Rs. 800 crores or $138 million.
Who is the founder of Redbus?
RedBus was founded in August 2006 by Phanindra Sama, Sudhakar Pasupunuri, and Charan Padmaraju – three engineers who were schoolmates at The Birla Institute of Technology and Science and workmates at various companies in Bengaluru.
What does Redbus stand for?
Redbus or Red Bus refer to: Redbus Investments, formed by Cliff Stanford in the United Kingdom Redbus Interhouse, a data- centre colocation operator in Europe Redbus Internet Exchange, formerly operating between Interhouse’s data centres.
Is Redbus owned by NASPER?
In mid-2013, Indian travel entity redBus was officially acquired by Nasper – a South African based media and Internet group – via IbiboGroup, Nasper’s Indian subsidiary.
Are there any red buses in New Zealand?
Midland Red Buses, a former provider in the West Midlands of England Red Bus (New Zealand), an operator in Christchurch Red Bus Services, an Australian transport operator Red Jammers, an American red bus service at Glacier National Park, United States