Business Description:redBus is the first company to aggregate information and sell bus tickets using technology as a channel. This provides customers a platform to get information, purchase bus tickets and get standard fares, unlike their experience with local agents. Today redBus is the market leader in this industry. The distribution mechanism is through the web, phone, mobile and 75000+ agents. Some of our key features include: Efficiency: We have driven a lot of efficiency into the system. Earlier if a customer wanted a ticket, he had to call up a travel agent who in turn calls various bus operators to find the availability of tickets. Today the availability status is readily visible on the site and customers can book instantly. Return tickets: Prior to redBus, customers could never book a return bus ticket anywhere in India. We have enabled that. Seat layout: Customers can now locate/choose the exact seat which they would occupy during the journey. Earlier they were often cheated as they didn't know the numbering series in the bus. Technology enabled: Today customers can book tickets on web, mobile and other outlets enabled by technology. They can take advantage of credit card payment, m-banking etc. Standard fares: Our proposition to customers is not "cheap tickets". Our tickets are priced at the market price. Due to the un-organized nature of the industry, a lot of travel agents take advantage by marking up the prices if they sense that you are a first-timer on that route. We don't over-price ever. Not even during festival season unless the bus operator increases the prices from his end. Others.: Ability to compare various bus departure times etc., are some of the other features which make redBus a better solution from traditional model. We power bus ticketing for some of the country's largest retail chains / travel agents. Ezeego1.com, makemytrip.com, Sify cyber cafes are some of them. As the distribution increases, more and more bus operators are approaching us to use redBus as a platform to reach out to more people. As one feeds the other, we are seeing very good growth rate. To expedite the growth, we plan to offer software to bus operators at an appropriate time.
Industry:Hospitality/ Travel
Founded in:2006
Source of idea:Wanted it as an individual customer
Significant Competitors:Travel agents
Company Details :
Company Name:red Bus
HeadQuarters:Bangalore
Stage of the company:Scaling up
No of Employees (2006):26-50
No of Employees (2007):51-100
Office Locations(2006):2-5
Office Locations(2007):6-15
No of companies promoted:No
Profits (2006):breakeven
Profits (2007):losing money
>Partnerships:
Initial Funding:Venture capital
Addl Funding:
Institutitional Capital:No
Revneue Model:"mainly commissions, but as business expands, through advertisements, lead generation etc. Going forward, we see other revenue models as listed below: * Travel insurance from customers who opt to get their journey insured. * Budget package tours on buses for the middle and the lower middle class population. *Advertisement revenue on our website."
Awards & honors:
Promoters Details :
Promoters Name(s):Phanindra Sama
Age:28
HomeTown:Hyderabad
Education:Bachelors
No of companies promoted:No
Family Background:First gen entrepreneur
Job:Design Engineer at Texas Instruments, Bangalore at Texas Instruments
Ex-Job Description:Developing/designing microchips
Favorite Book/Movie:Losing my Virginity by Richard Branson
