Press Esc to close

Naspers acquires redBus.in

New Delhi, Jun 21, 2013, DHNS : 22:17 IST
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

More from this section
Most trending stories
Photo Gallery
Indian cricket captain Virat Kohli with his actress wife Anushka Sharma during their wedding...

Indian cricket captain Virat Kohli with his actress wife Anushka Sharma during their wedding...

Former footballer of Argentina Diego Maradona with his wife after being felicitated at a programme..

Former footballer of Argentina Diego Maradona with his wife after being felicitated at a programme..

An Afghani lady cadet at practice session for small arms at Officers Training Academy (OTA)...

An Afghani lady cadet at practice session for small arms at Officers Training Academy (OTA)...

Congress party workers display signboards pasted with the pictures of Jawahar Lal Nehru...

Congress party workers display signboards pasted with the pictures of Jawahar Lal Nehru...

Artists making a 75 M-long live watercolor painting for a world record at Central Park...

Artists making a 75 M-long live watercolor painting for a world record at Central Park...

Patidar community leader Hardik Patel waves at supporters during a road show for the second phase...

Patidar community leader Hardik Patel waves at supporters during a road show for the second phase...

Activists of the All Assam Students Union (AASU) forming a human chain while staging a protest...

Activists of the All Assam Students Union (AASU) forming a human chain while staging a protest...

Congress Vice President Rahul Gandhi offering prayers at Shamlaji Temple in Aravali district...

Congress Vice President Rahul Gandhi offering prayers at Shamlaji Temple in Aravali district...

Russian Foreign Minster Sergei Lavrov calls on President Ram Nath Kovind at Rashtrapati Bhavan...

Russian Foreign Minster Sergei Lavrov calls on President Ram Nath Kovind at Rashtrapati Bhavan...

WWE wrestler Dalip Singh Rana or Great Khali calling on Madhya Pradesh Chief Minister Shivraj Singh.

WWE wrestler Dalip Singh Rana or Great Khali calling on Madhya Pradesh Chief Minister Shivraj Singh.

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.