Bus ticketing service, redBus has reached 2 million customer base and claims to have sold more than one crore bus seats in India.
Bus travel has been growing at 25% every year and has become a preferred mode of transport. This is because, for several routes like “Bangalore-Chennai” and “Ahmedabad-Mumbai” bus travel takes same time as air travel does. On top of that, luxury buses such as “Volvo” and “Mercedes” provide unmatched executive class comfort to bus travelers.
These trends have enabled the company to grow at average rate of 250% year on year for last 5 years.
The company also announced a tie up with Rajasthan State Road Transport Corporation (RSRTC) to sell their bus tickets. This partnership enables redbus.in to offer a wider and more comprehensive choice to its customers for booking bus tickets in the northern region. State road transport often serves more than 50% of bus travel and usually offer good connectivity to every nook and corner of the state.
The company raised $6.5 Million Series C funding in May 2011 (led by Helion Venture and participated in by the existing investors, Seedfund and Inventus Capital Partners) and focused on growing the B2B business, i.e. BOSS software (Bus Operator Software Services) which they license to government owned operators.
The redBus Story
Watch redBus’ founder, Phanindra Sama sharing the redBus story at UnPluGGd.