AbhiBus is an Indian online bus ticket booking company, founded in 2007 by Sudhakar Reddy Chirra. It is headquartered in Hyderabad, India. The company provides a range of bus-related services including an online ticketing system, fleet management services, vehicle tracking systems, passenger information systems, and logistics management. AbhiBus was the second-largest bus aggregator[1] in India in 2020.[2] The company was acquired by Ixigo in 2021.[2]
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| Company type | Private |
|---|---|
| Industry | Travel |
| Founded | 2007 |
| Founder | Sudhakar Reddy Chirra |
| Headquarters | Hyderabad, India |
Area served | India |
| Products | Online bus ticketing, Fleet management, Vehicle tracking systems, Passenger information systems, Logistics management |
| Parent | Ixigo (since 2021) AbhiBus Services (India) Private Limited (2007-2021) |
| Website | https://www.abhibus.com/ |
History
editAbhiBus was founded in 2007 by Sudhakar Reddy Chirra to provide technology services for the bus transportation industry in India. The company initially focused on developing an online bus ticketing system and later expanded to offer fleet management, vehicle tracking, and logistics management services. In late 2014, the company expanded its services to include direct ticket sales to consumers via its website and mobile app.[3]
By 2013, AbhiBus had 8 lakh unique visitors each month and had partnered with over 1,500 bus operators. In 2014, the company partnered with the Andhra Pradesh State Road Transport Corporation (APSRTC) to facilitate ticket sales across its operational regions.[4] In 2015, the company launched its wallet service, AbhiCash, to facilitate transactions on its platform.[5]
By 2019–20, AbhiBus had become the second-largest bus aggregator in India, selling about 26,000 bus tickets daily.[2] In August 2021, AbhiBus was acquired by Ixigo.[2]
In November 2019, it partnered with Bihar State Road Transport Corporation to provide ticketing services.[6] In February 2021, AbhiBus entered into a partnership with the state-owned Indian Railway Catering and Tourism Corporation (IRCTC) to provide bus ticketing services for IRCTC customers.[7] In March 2022, the company signed a master service agreement with the Andhra Pradesh State Road Transport Corporation to develop and maintain a Unified Ticketing Solution (UTS) on the APSRTC cloud platform, integrating ticketing, reservation, tracking, and complaints for intra-city and inter-city buses.[8]
In September 2024, AbhiBus launched Edge, an AI-powered application for bus operators to manage campaigns[9] and partnered with FlixBus, a German intercity bus service provider.[10] The company engaged film actors Mahesh Babu,[11] Rajendra Prasad[12] and Silambarasan TR[13] as brand ambassadors, who appeared in television advertisements to promote the company.
Funding
editAbhiBus was set up in 2007 by Sudhakar Reddy Chirra with an initial investment of ₹15 lakh.[14] In 2009, the company raised ₹5 crore in its first funding round, followed by ₹20 crore in 2011 to support expansion.[15] In February 2015, it secured $10 million from private equity firms[16][17] and later received additional investment from Paytm in October 2015. In January 2018, the company raised ₹60 crore in a further funding round.[14]
Operations
editAbhiBus primarily offers an online platform for bus ticket reservations, allowing customers to book seats with various bus operators via its website and mobile application. It also lets users book rail tickets,[7] flights, and hotels.[18] The company diversified its services to include bus chartering and rentals for both private and corporate clients.[19] It provides Software as a service to bus operators, enabling the management of operations, inventory, and ticket sales.[20]
As of 2023, the company has 3,000 operators and 120,000 buses from private operators and State Road Transport Corporations in Andhra Pradesh, Telangana, Karnataka, Kerala, and Himachal Pradesh.[21]
Financials
editIn the financial year 2012–13, AbhiBus reported revenue of ₹150 crore.[22] Its revenue increased to ₹160 crore in FY 2014.[16] For FY 2014–15, the company recorded a gross merchandise value (GMV) of ₹250 crore. By the first seven months of FY 2015–16, GMV exceeded ₹250 crore, nearing the annual target of ₹500 crore.[14]
For FY 2015–2017, ticket sales reached ₹529.10 crore, with a compound annual growth rate (CAGR) of about 47%.[23] In FY 2018–19, the company reported a GMV of over ₹700 crore and reached break-even. The company has registered a 40% year-on-year growth rate in GMV.[3]
References
edit- ^ "AbhiBus appoints Kotak to raise $40 million". LiveMint. 19 December 2019.
- ^ a b c d "ixigo acquires bus ticketing platform Abhibus". The Hindu Business Line. August 5, 2021.
- ^ a b S.H., Salman (28 August 2019). "Abhibus crosses ₹700 crore GMV in FY19, plans to launch train ticketing". Mint.
- ^ K, Sainul (May 15, 2014). "Online ticket booking platform abhibus.com partners with APSRTC". TechCircle.
- ^ "Bus ticketing portal AbhiBus.com launches its own wallet service AbhiCash". Economic Times. 29 September 2015.
- ^ "AbhiBus signs agreement with Bihar State RTC for ticketing service". The Economic Times. 21 November 2019.
- ^ a b "IRCTC ties up with AbhiBus to provide bus ticket bookings". LiveMint. 5 February 2021.
- ^ "APSRTC ties up with AbhiBus for unified ticket system". The New Indian Express. 19 March 2022.
- ^ "AbhiBus sets goals with 50k villages connected". United News of India. September 1, 2024.
- ^ "ixigo share price surges 5% after bus business inks deal with FlixBus". Business Standard. September 10, 2024.
- ^ "AbhiBus ropes in Mahesh Babu as brand ambassador". The Hindu Business Line. 21 October 2017.
- ^ "AbhiBus launches ad campaign featuring Mahesh Babu with Rajendra Prasad". The Financial Express. 17 July 2020.
- ^ "AbhiBus launches 'Wrong Da' campaign with Silambarasan TR". afaqs!. 15 March 2021.
- ^ a b c Kurmanath, KV (January 22, 2018). "Abhibus closes ₹60-cr funding in second round". The Hindu Business Line.
- ^ "Living a dream by catching the bus". Deccan Chronicle. 24 September 2013.
- ^ a b Narasimhan, T E (February 19, 2015). "AbhiBus to raise $10 million from PE funds". Business Standard.
- ^ Kalavalapalli, Yogendra (February 23, 2015). "Abhibus appoints Kotak to raise $40 million". Livemint.
- ^ Bhutia, Peden Doma (July 28, 2023). "Skift Take". Skift.
- ^ "AbhiBus launches rent-a-bus service". The Hindu Business Line. December 23, 2019.
- ^ "ixigo acquires bus ticketing platform AbhiBus". Hotelier India. August 6, 2021.
- ^ "Online ticketing platform AbhiBus aims to double ticket revenue". The Hindu Business Line. September 20, 2023.
- ^ Kanungo, Soumonty (June 16, 2013). "AbhiBus.com to raise Rs 57 cr in PE funding". Financial Chronicle. Archived from the original on 11 July 2015.
- ^ "Rating assigned" (PDF). Acuité Ratings. 17 May 2018.