Press Esc to close
Friday 22 May 2015
News updated at 1:52 PM IST
Weather
Max: 31.5°C
Min : 22.8°C
In Bengaluru
Sunny day

Naspers acquires redBus.in

New Delhi, Jun 21, 2013, DHNS :
redBus.in Facebook page

South African investment firm Naspers on Friday said it has acquired online bus ticketing company redBus.in through its Indian subsidiary ibiboGroup for an undisclosed amount.

“This transaction will expand and diversify ibiboGroup’s existing travel assets : Goibibo.com and TravelBoutiqueOnline,” a statement said.

All the travel entities of ibiboGroup (MIH India), including redBus.in, will continue to run independently and operate as separate businesses to drive deep focus. The founders and management teams of each of these entities will continue to build out their businesses.

redBus.in, founded by Phanindra Sama, Charan Padmaraju and Sudhakar Pasupunuri in 2006 is an online bus ticketing platform by all metrics that aggregates bus inventory from thousands of bus operators and makes it available real time to end consumers and agents.

redBus aggregates 228,000 seats per day, sells more than a million tickets a month and has more than 600 full-time employees. The core business model of redBus is commission revenues on successful transactions.

redBus Co-Founder & CEO Phanindra Sama said, “We are excited to be a part of ibiboGroup. Naspers’ strong belief in internet industry and operating experience in multiple countries will help redBus grow into a renowned brand in the coming years.”


Go to Top

Photo Gallery
Textile Minister Subash Desai at the inauguration of Textile Park...

Textile Minister Subash Desai at the inauguration of Textile Park...

Mangoes on sale in the wholesale fruit market during summer season in Bhopal...

Mangoes on sale in the wholesale fruit market during summer season in Bhopal...

Actress Aishwarya Rai Bachchan walks during the 68th Annual Cannes Film Festival...

Actress Aishwarya Rai Bachchan walks during the 68th Annual Cannes Film Festival...

An Indian Air Force (IAF) Mi-17 V5 helicopter returns on Tuesday after dropping relief recent Nepal.

An Indian Air Force (IAF) Mi-17 V5 helicopter returns on Tuesday after dropping relief recent Nepal.

Mirage 2000 fighter aircraft of the Indian Air Force successfully lands on the Yamuna Expressway...

Mirage 2000 fighter aircraft of the Indian Air Force successfully lands on the Yamuna Expressway...

Girls paying floral tribute to former prime minister Rajiv Gandhi on his death anniversary...

Girls paying floral tribute to former prime minister Rajiv Gandhi on his death anniversary...

A Mahout sits on his elephant in Sabarmati river before giving bath to protect from heat...

A Mahout sits on his elephant in Sabarmati river before giving bath to protect from heat...

A Barn Swallow chicks inside a nest in Srinagar...

A Barn Swallow chicks inside a nest in Srinagar...

A cattle egret feeding its offsprings at nest on a tree in Guwahati on Thursday...

A cattle egret feeding its offsprings at nest on a tree in Guwahati on Thursday...

An Indian man takes bath under the tap of a water tanker on a hot day in Ahmadabad...

An Indian man takes bath under the tap of a water tanker on a hot day in Ahmadabad...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523