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ibibo-owned redBus expands into Latin America with majority stake acquisition of Busportal.pe

ibibo-owned redBus expands into Latin America with majority stake acquisition of Busportal.pe India, 11 July, 2016: IbiboGroup, 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.
 
According to Hassan Bourgi, Co-Founder of Busportal: “redBus’s entry in the region will benefit the overall online ecommerce market. We are very enthusiastic about scaling up the platform with the support of the most innovative company in the industry.”
 
Carol Riboud Co-Founder of Busportal added: “The arrival of redBus will enable bus operators to use the technological tools of redBus to optimize their revenues and the industry will tend to be more organized to the benefit of consumers. We are happy to be part of this change and help both bus companies and bus customers.”
 
Commenting on this occasion, Ashish Kashyap, Founder & CEO of ibibo said, “We are excited to partner with Hassan and Carol to expand redBus into Peru, Columbia and Chile. The founders have demonstrated deep insights in building their startup, BusPortal. We believe that this will be a strong combination of local knowledge and the robust global platform and technology of redBus.”

 
About Busportal 
Busportal.pe is the largest online bus ticketing platform in Peru. The website allows users to compare and purchase bus tickets from several bus operators with a few clicks. The application allows users to book bus tickets from more than 20 bus operators in Peru and covers more than 70% of the routes.
Busportal Online: http://www.busportal.pe
 
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About redBus
redBus is India’s Number One online bus ticketing platform, both on mobile and on desktop with over 60 million tickets sold. redBus offers services of over 2,300 bus operators across 70,000 routes in India. redBus has expanded its operations in Singapore and Malaysia. redBus not only enables travellers to book bus tickets and real time track the buses, but also provides rich technology and tools to bus companies such as inventory and pricing engines, campaign engines, live tracking, analytics and data.
 
The business owns three products - redBus™, BOGDS™, SeatSeller. redBus™ is a consumer-facing travel brand that enables customers to buy bus tickets on the internet and on mobile phones. BOGDS™ is a cloud-based solution built for bus operators. SeatSeller™ is GDS for bus inventory distribution. Over 10,000 retail agents and 100+ corporates including the OTAs use SeatSeller to sell bus tickets to their customers. redBus has been rated the most trusted brand in the online travel category and the 13th most trusted internet brand in the overall rankings as per the The Brand Trust Report, India Study 2015. It also won an award for being ‘The Most Trusted Brand’ by IBC InfoMedia in 2015.
 
redBus is part of ibiboGroup, India’s largest online travel company
 
redbus Online: http://www.redbus.in/
 
About ibiboGroup
Ibibo, founded by Ashish Kashyap and the Naspers group, is India’s largest online travel group with integrated travel properties such as goibibo.com (no.1 hotels aggregator and leading air platform); redBus.in (no. 1 online bus ticketing platform); YourBus (Vehicle tracking application) and recently launched car sharing app, ibiboRyde. The company’s mission is to organize the transportation and accommodation industry and connect it with the travellers. More than 4mn unique users transact with ibibo platforms every month making ibibo the biggest travel company in India.

ibibo Online: http://www.ibibo.com/
 
 

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