Naspers and Tencent-backed Ibibo has acquired India-based RedBus, an online bus ticketing service, in a deal valued in the region of a reported $135m. The deal also marks an exit route for RedBus backers.
Ibibo, an India-based online payment and marketplace for a range of consumer services, has acquired RedBus, a fellow India start-up that specialises in online bus ticketing, for a reported $135m, according to a TechCrunch report.
Ibibo is jointly owned by the corporate venturing units of China internet group Tencent (20%) and South Africa media group Naspers/MIH (80%). It is likely that once RedBus gets integrated into the Ibibo technology platform, the product and concept will be taken to new…
