After much speculation, Naspers subsidiary and Ibibo owner MIH India has confirmed that it has acquired Bangalore-based online bus ticketing portal redBus.in. Here is a look at the important events in redBus's journey until now: - August 2006: redBus.in was launched with a capital of Rs 5,00,000 and five seats from a single operator (via Rediff). - Feb 2007: redBus raised its first round of funding of $1 million (Rs 3 crore) from SeedFund and undisclosed investors. SeedFund had invested $500,000 in the company while other investors accounted for the remaining $500,000 investment. (via The Economic Times). - July 2009: redBus raised $2.5 million from Inventus Capital Partners, Seed Fund and other unnamed investors. Of this, SeedFund had invested $700,000 in the company. The company claims to have over 500 tie-ups with bus and tour operators for 5000 routes, across 15 Indian states primarily in South, West and North India. - August 2009: redBus launches its 'Software as a service' product for bus operators called BOSS (Bus Operator Software Services), which now allows bus operators to manage their inventory in real time as well as manage bus schedules, allocate seats to specific agents or branch offices, manage ticket pricing on the service, route and date level and offer online booking on their website through their own payment gateway. redBus also rolls out another software service called Seat Seller, which allows online travel agents to aggregate and sell tickets across multiple bus operators. - October 2010: redBus claims to sell around 5,000 tickets on a daily basis and claims to have 700 bus…
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