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 association, 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 lnowledge and the robust global platform and technology of redBus”.
Our typical marketing budget is usually 10 per cent of the topline spend
There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...
The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.
<b>Clients are looking for experiential solutions beyond radio or print: Abraham Thomas, Radio City 91.1 FM</b><br><br> From entering new markets to launching large format events, Radio City 91.1FM has been on a roll. The radio channel recently announced the launch of India’s biggest singing talent hunt-Radio City Super Singer Season 8. Earlier this year, the channel set up its own creative-cum...
The interesting animated rap music video encapsulates Droom’s ecosystem tools and their role in facilitating second-hand automobile transactions
Perfumes are invisible and these new ads from Skinn create a story out of this
New campaign aims at first-time users by providing ‘first-night free’ – a first-ever offering by the brand on online hotels booking