Ibibo acquires redbus, the online bus ticketing service

Phanindra Sama and Charan Padmaraju , the engineers from BITS Pilani who created the pioneering bus ticketing service redBus 7 years ago, have sold their stake to the Ibibo Group. Ibibo largely focuses on air tickets and hotel bookings. RedBus will be run independently and operate as a separate business. Its founders and management team will continue with the firm. The portal sells more than a million tickets a month and has over 600 full-time employees. The core business model of RedBus is commission revenues on successful transactions. All travel entities of Ibibo Group, including redBus.in will continue to run independently and operate as separate businesses to drive deep focus. RedBus covers more than 10,000 bus routes in India and the tickets are available at more than 30,000 ticket outlets.

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