India’s largest online travel company that owns properties such as Goibibo.com, redBus.in, Yourbus and ibibo Ryde has executed a binding agreement to acquire a majority stake in Peru-based bus ticketing platform Busportal (Empresa Digital Peruana S.A.C.) for an undisclosed amount.
Ibibo’s portfolio company redBus, is India’s largest bus ticketing platform. Besides Latin America, redBus has also launched operations in Malaysia and Singapore.
This investment in Busportal.pe will give redBus an entry into large and under penetrated online bus ticketing markets in Latin America, such as Peru, Colombia and Chile.
In addition to its local market expertise, Busportal.pe will leverage the redBus technology, product and brand name to launch and grow these markets. The co-founders of Busportal, Hassan Bourgi & Carol Riboud, will continue to drive the operations in Peru and further expand into Colombia & Chile.