New Delhi-based ibiboGroup, a subsidiary of South African digital media conglomerate Naspers Group has appointed Prakash Sangam as the CEO of redBus. The move is in line with ibiboGroup’s focus to drive seamless integration of redBus into the Group.
New Delhi-based ibiboGroup, a subsidiary of South African digital media conglomerate Naspers Group has appointed Prakash Sangam as the CEO of redBus. The move is in line with ibiboGroup’s focus to drive seamless integration of redBus into the Group.
With the new appointments, the founders of redBus – Phanindra Sama and Charan Kumar Raju have fully exited the company. In June last year, Naspers had paid $100 million in cash to buy 80 per cent stake in Pilani Soft Labs Pvt Ltd, which runs Indian bus ticketing venture redBus, valuing the venture at $125 million.
Prior to redBus, Sangam was the executive vice president at Info Edge (India) Ltd, heading two portfolio businesses of the Group including Shiksha.com and Jeevansathi.com. Before that, he was the GM- marketing & innovation at Bharti Airtel Ltd. He had earlier also spent seven years at Hindustan Unilever in multiple roles spanning marketing, brand management and sales. An IIM Calcutta alumnus, he also holds a BE degree in production engineering from K.J. Somaiya College of Engineering, Mumbai.
Ashish Kashyap, group CEO of ibibo, said, “I want to take this opportunity to thank Phani and Raju for their contribution and participation in the growth of redBus and also for seeing to a smooth transition of the business.”
Earlier this year, ibiboGroup had acquired bus tracking and analytics platform YourBus.in from Bangalore-based Lucido SoftLabs Pvt Ltd for an undisclosed amount. The acquisition came within nine months after the group snapped up redBus.in. As part of the deal, the YourBus team had joined redBus.
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