redBus Expands Bus Ticket Bookings To Malaysia and Singapore
redBus, a leading name in bus ticket bookings in India has gone international. Ibibo Group, part of South African media company Naspers Ltd, that operates redBus.in has said that they have now made their first foray into international markets launching redBus services in Malaysia and Singapore.
With this launch, the users in Malaysia and Singapore will now be able to book bus tickets for travel between Singapore and Malaysia as well as for intra-city travel within Malaysia. The tickets can be booked online through the Singapore website redBus.sg or through their Android or iOS app.
In India, redBus currently commands a market share of 75 percent, and they witnessed a growth of 90 percent growth in revenue compared to last year. They catalyst for their growth has been hotel bookings, which have grown over 5 times in last year.
This launch is part of their ‘redBus global platform’ that will support multiple currencies, time zones and languages. The platform will is also integrated with international payment systems so that payments from other countries can be easily accepted as well. With launch of the global platform redBus aims to sell 100,000 tickets per day.
The redBus global platform will also enable tourists from India and other countries to book their bus tickets just by changing their region and currency.
redBus was acquired by ibibo group in June 2013 for approximately $ 100 million and later they also acquired online bus tracking and analytics platform YourBus.in. Ashish Kashyap, founder and chief executive of Ibibo Group said, “Ever since the acquisition in 2013, we have worked hard to build the new global platform, mobile apps and a solid management and technology team (of redBus). This has resulted in redBus.in’s growth accelerating to 80% year-on-year, its market share growing to 75%, mobile becoming a 40% share in transactions and all of this culminating in the launch of redBus in Singapore and Malaysia”
According to redBus, the Malaysian and Singapore bus booking market is very similar to that of India which is quite fragmented and unorganized. This has led them to expand in the two countries where they expect to replicate the success they have achieved in India.