Update: Ibibo CEO Ashish Kashyap has confirmed to TechCrunch that Ibibo has acquired redBus for an undisclosed amount. He said that they will be operating redBus as an independent business in its current travel portfolio which includes Goibibo and Travel Boutique Online. Also, contrary to the rumors, Kashyap said that redBus CEO Phanindra Sama will stay and continue in his role as the CEO of redBus. The valuation of the company has not been disclosed, but different reports have suggested that Redbus was valued at $100 and $138 million. Our sources suggest a valuation of between $100-120 million. Earlier (June 17): South African media conglomerate Naspers is looking to acquire a majority stake in the online bus booking portal redBus.in, through its subsidiary and Ibibo owner MIH Group and is currently in advanced stages of talks, reports The Times Of India, citing sources who are directly familiar with the matter. The report says that MIH Group is picking up this stake at a valuation of $100 million, although a NextBigWhat report suggests that the deal is valued at Rs 800 crore (around $138 million). Note that Naspers or RedBus has not confirmed this development to either of the publications. We’re trying to confirm this acquisition and will update the article once we get a response. Update: MIH India CEO Ashish Kashyap has declined to comment on this development, stating that they don't comment on speculations. Founded in 2006, redBus currently offers bus ticket booking service through its website, Android app and over the phone across 24 Indian…
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