Online bus ticketing platform redBus, owned by online travel aggregator Ibibo Group of the Rand 73-billion ($5.2-billion) South African multinational media firm Naspers, on Monday said the company is all set to clinch a deal with taxi aggregators like Ola, Uber, etc.
In an interaction with Deccan Herald, redBus Chief Executive Officer Prakash Sangam said the company is scouting for opportunities to give flawless delight to all its customers.
“Those passengers who are accessing our platform via mobile app, mobile website, or website should have a facility to reach their last-mile destination after alighting from the bus. Here, if we integrate our platform with the service of taxi aggregators, it will be a win-win situation for our clients,” he said.
“We have started our gameplan and negotiations will culminate within three months. We want to bring as much players as possible so that our customers will have a joy ride till their last-mile destination,” he said.
Sangam said the company’s philosophy of customer-centric innovation will continue. “The innovation has really transformed redBus from a mere bus booking platform to travel companion. Our mobile-first strategy gave new dimension in product development, design, and marketing strategies,” he said.
The redBus CEO cited examples like geo-coded bus routes, 360 degree view of boarding point, pop-up notification on destination, navigation mash up, real-time information on passenger journey to near and dear ones, GPS tracking, etc.
Founded by Phanindra Sama in 2006, redBus is a leading player in the bus booking segment.
IbiboGroup acquired Pilani Soft Labs that operated redBus in 2013 at an estimated enterprise value of around $100 million.
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“We have already expanded our presence in Singapore and Malaysia in July. We are planning to expand our presence in more countries by the end of this fiscal which will span across emerging economies in Asia, Africa, and South America,” he said.
When asked about tackling global expansion challenges, Sangam said the company has a proven platform in India and the company will have to get acclimatised to local languages.
Sangam claimed that redBus has successfully overcome a dispute over Esops by issuing fresh shares of Ibibo to those employees who were not able to vest their shares at the time of the buyout.
On the revenue front, he said the company is registering triple-digit growth in the recent quarters which is highest compared with the last three years. Backed by 1,800 bus operators and six state road transport corporations on board, the B2C ticket booking platform started increasing its revenue generation from tier-2 and tier-3 cities.
Naspers, the holding company of Redbus, also owns ibibo Ryde, YourBus, OLX, Goibibo, PayU, and Travel Boutique Online (TBO), to provide solutions in the payment, hotel booking, flight booking and travel plan spaces. Competitors include travelyari.com, abhibus.com, Ticketvala.com, and MakeMyTrip.com.
Published 23 November 2015, 19:24 IST