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Redbus is an online bus ticket booking platform. This platform made ticket booking easier. where you can book the tickets online with few clicks.
Redbus was founded by Phanindra Sama , Chandran Padmarauju, and Sudhakar Pasupunuri. These were the engineers of Birla Institute of Technology and Science.
Redbus online ticket booking platform gained a lot costumer over the years. It was started in 2006 and now it has over 2500 bus partners and makes million of bookings each day.
Redbus revenue has increased and now it’s about the US $85 million in 2019. It acquired by Goibibo in 2013.
How redBus founded
Redbus has started based on the incident experienced by the founder Phanindra Sama.
Redbus founder Phaninda Sama basically from Hyderbad and was working in Bangalore. So he took frequent buses to travel his home town on holidays.
Phanindra Sama couldn’t able to get the bus ticket for the Depawaali festival holidays. Then he approached nine bus operators but he couldn’t get a single ticket for himself. Finally, he ended up staying in Bangalore.
Redbus’s idea came across his mind through the incident. He thought still he could get a ticket if had approached one more bus operator the previous evening. He started thinking if there was single seating not booked in a bus and this was a loss for the whole system.
Phanindra Sama then thought to build software for the ticket booking. Then with help of his seven friends(roommates) started to build software and it took over seven months to get the initial product.
Redbus initial model
Redbus booking software was almost done and he approached bus drivers to install it but they denied it and sued him up. Even bus operators also avoided because they are not ready to use computers in their offices and they are not used to it.
Then with the advice of his mentor, he understood that customers make their products successful. So he started the redbus.in website to gain customers into his platform.
Each time when he gets customers through the website he then actually call the bus operator to confirm the tickets. The business has also grown swiftly.
But, its initial model was rejected by VC(venture capitalist) and did not raise the fund.
Redbus success started from this point
Its services are not able to reach a wide audience. So, Phahnindra Sama convinced both bus operators and drivers to install the software. They accepted this time because they were getting high sales from his side.
The platform gained popularity in the coming years and captured the maximum market. Costumers are also had great pleasure in booking tickets as they did it with few clicks. Rather than facing troubles earlier to get a single ticket.
Redbus started to get fundings, it got the US $500,00 in 2007 at the seed fund round. In 2009 it raised $2.5 million from Inventus Capital Partners. Then Redbus was acquired by the Goibibo group in 2013.
This platform provided a lot of offers to gain attention from the customers.
They also started to render their ads on TV. They announced that Mahendra Singh Dhoni was its brand ambassador.
In this way, founder Phahnindra Sama made his successful entrepreneurial journey and revolutionized the ticket booking system. Now a lot of competition is present but still redBus ruling like a king.