[Locked] Why RedBus was sold to Ibibo group?
RedBus solved one of the major pain area of Indian intercity travel. They provided one point solution for all queries a passenger could have for travelling and ticket booking. And what more - they were so popular plus they were market leaders with a whopping 65% share of business. But still, Phaneendra Sama decided to sell it for $135 million !
Here is the success story of RedBus and the reasons which aligned together to push Sama to take "that call" of selling the business to Ibibo Group. This Sale confirmed one fact about India Startup Ecosystem - A genuine problem solving startup could be developed from scratch and sold in India as well. Here is the FS Labs analysis. Pl read and let us know if you like it - http://www.fuckedupstartups.com/fs-analyser/redbus-why-it-was-sold-to-ibibo-group/
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