Meet Young Engineer, Once Failed To Get Bus Back Home, Built Startup With Rs 5 Lakh Investment, Sold It for Rs 800 Crore

Phanindra Sama founded RedBus in 2005, creating India’s first online bus ticket booking service. Today, it stands as the largest bus ticketing platform in the country, with a pioneering influence in online travel booking.

He graduated from the Birla Institute of Technology and Science, and his entrepreneurial journey ultimately led him to become the Chief Innovation Officer of Telangana, a significant role in promoting innovation in the region.

RedBus was co-founded with Sudhakar Pasupunuri and Charan Padmaraju. Starting with a small investment of Rs 5 lakh, the company grew to a remarkable net worth of over Rs 698.5 crore (Rs 69,850,000,000). 

The idea for RedBus came when Sama couldn’t find a bus ticket from Bangalore to Hyderabad for Diwali in 2005. This experience highlighted the need for a reliable online bus ticket booking system.

Fascinated by Richard Branson’s Virgin brand, Sama wanted a brand with an impactful colour, as per reports. Inspired by the colour of the Virgin, he chose "Red" for his venture, thus naming it "RedBus." 

Today, RedBus operates with over 10,000 buses and 700+ bus operators, spanning 15 states and selling at least 5,000 tickets daily reportedly. It’s a testament to the platform's widespread success and reach. 

In 2013, RedBus was acquired by the Ibibo Group for around Rs 828 crore, marking a milestone in India’s startup ecosystem reportedly. Currently, Prakash Sangam serves as CEO, with Anoop Menon as the CTO, steering the company forward in the digital travel industry. (Image Credit: Social Media And File Photo)