redBus famous online bus-ticketing platform is all set to spread its business wings farther in the international level. Singapore, Malaysia and Indonesia among other countries have service of redBus and is running quite successfully. Now redBus is on the venture to tackle the business possibilities in Turkey, Thailand and Vietnam.
The international business is quite new for this immensely successful company and gains 7 percent of overall revenue from it. Chief Executive Prakash Sangam estimates to get at least 35 percent in coming four or five years.
It may extend it’s handy service to outer Geographical locations after adequate evaluation by the end of this year itself. According to Sangam, the company plans to enter the aforementioned countries by Business Networking or getting native business enthusiasts in the country to make the brand name popular there. This is called an inorganic way. This way of business had been used by many Billion Dollar companies and was quite successful. KFC, BurgerKing etc are examples. But if after proper evaluation the strategy is not beneficial the company is ready to go forward with the organic way by entering into business directly in the country.
For this year the company focuses solely upon the international business to pull up the numbers. Yet the company has to take into consideration many minute factors for the success of a company of this nature. The Country should be in need of such a big bus network, proper distribution of the Internet and smartphones in the society is necessary for accessing the service flawlessly. The booking and payment transaction totally depends upon the internet. It should have proper fragmentation also.
According to recent trends, most of the Domestic Startups are looking into their expansion into a global market for further growth of the company to the next level. According to last year estimates more than 61 Million passengers booked tickets from the platform. It is an Indian origin company which was later acquired by Ibibo.