Red bus.in
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Redbus.in is India's largest bus booking platform, founded in 2006. It has over 350 bus operators on its platform and sells two software products to bus operators and travel agents. Redbus aims to achieve annual revenue of INR 5 billion by 2015 by focusing on its core business, pursuing vertical integration, increasing its service portfolio, and expanding globally. It currently dominates the online bus booking market in India with approximately 65% market share but faces competition from other players.
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Red bus.in
- 2. Contents • About the company • The story • Achievements • More about redbus.in • The Team • Industry Analysis • SWOT Analysis • Business Concept • Competition • Goals and objectives • Redbus now • Logo
- 3. About redBus.in • Founded in: August 2006 • Headquarters: Bangalore • Industry: Domestic Travel • India’s first bus tickets booking site • Has the largest network of bus operators in their list (350+ and growing) • Being mentored by the TiE-EAP (Entrepreneurship Acceleration Program) • Sells two cloud based software, called BOSS and Seat Seller to bus operators and travel agents.
- 4. The Story • One of the founder couldn’t catch his bus on diwali, so what?? A lot of us have missed our buses…big deal.. • They thought, if IRCTC can simplify railways, WHY CAN’T local bus ticketing be streamlined? • They undertook extensive market surveys to understand the market and aspirations of the customers. • They developed a plan for the business and submitted it to a TiE (the Indus Entrepreneurs) mentorship competition. • The portal was created with the help of the initial seed funding and mentoring that was provided by the competition.
- 6. Achievements • Forbes - Top 5 hottest start-ups • Business World - Top 3 enterprises in India • AllWorld Network - India's fastest growing company • Deloitte - Top 5 fastest growing companies in India • Star award achiever - Youth Marketing forum • IAMAI - Internet start-up of the year
- 7. More about redbus.in How much does it worth How much does it make • $ 8,459 / day • $ 253,770 / month • $ 3,045,240 / year Website Traffic • 564,000 visitors / day • 16,920,000 visitors / month • 203,040,000 visitors / year • 2,819,778 page views/ day • 84,593,340 page views / month • 1,015,120,080 page views / year • estimated worth, $ 25,015,000
- 8. The Team Phanindra Sharma • CURRENT : CEO at redBus.in • PAST : Senior Design Engineer at Texas Instruments Design Engineer at ST Microelectronics • EDUCATION : Indian Institute of Science Birla Institute of Technology and Science Sudhakar Pasupunuri • PRESENT : Co-Founder – www.redbus.in • PAST : Staff Software Engineer - IBM Rational Software Software Engineer - TCS • EDUCATION : B.E. in EEE - Birla Institute of Technology and Science Charan Padmaraj • CURRENT : Head of Engineering at redBus.in • PAST : Co-Founder at Pilani Soft Labs (www.redBus.in) Engineer at Honeywell • EDUCATION : Birla Institute of Technology and Science
- 9. Industry Analysis •The Bus operators are dependent on Red Bus for getting the customers •Red Bus needs to associate with larger number of operators •Reach, Credibility, Visibility •Low Profit Margins •Require continuous innovation •Background in services •Low product differentiation •Indian Middleclass: price conscious •Threat of substitutes is high in smaller cities where the availability of internet is low Threat Of New Entrants [LOW] Bargaining Power Of Buyers [HIGH] Bargaining Power Of Suppliers [Medium] Threat Of Substitutes [High] Threat Of Competitors [Medium] •redBus is the biggest player in the online bus booking segment, but faces continuous threat from bigger players, travel agents and OTAs
- 10. SWOT Analysis •Vertical Integration with procurement of Buses •Horizontal Integration with venturing into airline Booking •Global Expansion into Overseas markets •Increasing no. of players in the Online Booking segment •Seasonal disturbances in demand •Un organized market in Non-Metro cities •Entrepreneurial culture •Needs external funding for Capital intensive projects •Seasonal disturbances in demand •Less reliability on Online Payments •Early Mover Advantage •Simple Business Model •Large network of Bus Operators •High Levels of Customer Satisfaction Strengths Weaknesses OpportunitiesThreats 10
- 11. Business Concept • Uses Secure Socket Layers (SSL) data encryption. This ensures that the information exchanged is never transmitted unencrypted • For a convenient, hassle-free portal where customers could book their tickets from the comforts of their home. • Could book your ticket for the return journey in advance without having to travel to the destination with the uncertainty of securing a ticket looming over your head. • Their strategy is to “win one territory, establish your rule, then win the next”
- 12. Competition • Makemytrip.com • Travelyaari.com • Travelvala.com • Abhibus • Via.com • Ticketcounters.com
- 13. Goals and Objectives • To Achieve Annual Revenue Of INR 5 Billion by 2015 by, I. Focusing on Core business II. Vertical Integration III. Increase in Service portfolio IV. Going global
- 14. redBus Now 2012 2 million users 10 million tickets sold +400 employees +700 bus operators 16000 daily buses Fastest growing Indian org Growth, 07-09 - 5000% Avg growth 250% per year Revenue 800 million 2013 Owned by ibibo Sama & Charan sold their stock to ibibo in june 2013 Market share – 65% Faces stiff competition from Travelyaari, Abhibus, and Simply bus
- 15. Logo