Under Construction

BREAKING NEWS
Source: Thailand Startup News  Aug 10, 2019

Travel Startup redBus Plans To Expand To Thailand, Vietnam And Turkey

Travel Startup redBus Plans To Expand To Thailand, Vietnam And Turkey
Source: Thailand Startup News  Aug 10, 2019
Travel Startup which was founded in india in 2006 by Phanindra Sama and initially started off as a platform for booking provincial buses online has announced plans to expand operations in  Thailand, Vietnam and Turkey.


 
The Indian company which was acquired by South African media giant Naspers through its Indian subsidiary, ibibo Group in 2013 for a sum of US$120 million has since diversified into other platforms and also expanded into countries like Singapore, Malaysia and Indonesia.
 
The company now plans to set up in Thailand, Vietnam and also Turkey before the end of 2019. Prakash Sangham, CEO of redBus said in a telephone interview with Thailand Startup News ,” We are evaluating these markets right now and are looking at entering these markets inorganically, through a local player. But if that does not happen, we are open to going the organic way by launching our own services."
 
For the financial quarter of April to July 2019, international markets contributed to about 8 percent of the company’s overall revenue and it expects this to grow up to 35 percent over the next 3 to 4 years with this year alone, a double digit growth expected by the end of the year.
 
The company had been evaluating various market for a while and some of the market prerequisites it had set includes markets that having a large bus service market with a fair amount of fragmentations and also a country that is at the right stage of e-commerce evolution ie has the right internet penetration, high smartphones usage and a variety of digital payment gateways.