Ibibo purchases Indian bus-tracking startup YourBus
On Thursday, Ibibo Group announced that it has added bus tracking an analytics startup YourBus. The financial terms of the acquisition deal were not disclosed, according to Live Mint.
Ibibo's statement about the transaction said: "Ibibo group will integrate the YourBus platform with both its existing online travel properties, redBus.in and Goibibo.com. The acquisition will enable the YourBus team to expand its reach potentially to thousands of buses."
Under the terms of the acquisition deal, YourBus will now be able to utilize the network and support of Ibibo and RedBus. This will help the analytics startup in its ambition of becoming India's go-to bus tracker. In addition, the whole workforce of YourBus, except fo rits co-founders, will be integrated into the RedBus team, Tech in Asia detailed.
Founded in 2011, YourBus was originally designed to track all buses in India. At present, its platform is now installed in more than 200 units. Ibibo, on the other hand, is a company that is co-managed by Chinese firm Tencent and South African firm Naspers, the report added.