Phanindra Sama personal details mention that Phanindra Sama married in the arranged marriage set up. Right now Phanindra Sama stake in Redbus is sold out and he is starting a new chapter in his life. Phani planned to spend the Diwali with his family in Hyderabad but destiny had something else written for him. According to an article on Business Standard, his net worth is around $110 million, which is approximately Rs 590-650 Crore in Indian currency. But with such speedy growth their thirst for more financial backing increased. Naspers achieved the deal through their Indian company Ibibo. The biography of Redbus co-founder Phanindra Sama basically includes Phanindra Sama family background which is very humble. Their range was now increasing, so were their revenues. He came back. Sensing this he decided to do something about it. The Redbus founder Phanindra Sama biography is about that. The other two founders’ names are Sudhakar and Charan, who are also educated from BITS, Pilani like him. The Lehman Brothers had collapsed and there was a global financial crisis. In June 2013, redBus announced that they had sold the company to South African media giant Naspers through its Indian subsidiary, ibiboGroup, for around USD 120 million (approx INR 790 crore) at a gross merchandise value (GMV) of around Rs 600 crore. He was also connected with the Swedish Institute to learn management, leadership, and sustainable business practices. They also launched more packages to make it lucrative. About Us | All the VCs who were interested once were not even talking to them. We use cookies to ensure that we give you the best experience on our website. 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The platform is also a part of India’s leading online travel company MakeMyTrip Limited. of Telangana. The ‘who’s-who’ went down the drains with this crash. Facebook: phanindra.sama (personal). The Redbus acquisition details are quite clear. Phanindra Sama has now decided to fund new startups, by joining the Global SuperAngels Forum. They now had 250 people working for them in 10 offices — Bengaluru, Hyderabad, Chennai, Coimbatore, Pune, Delhi, Vizag, Ahmedabad, Mumbai and Vijayawada. Phanindra Sama nationality is Indian and Phanindra Sama first job was in the field of electronics with a Texan MNC of Bangalore which he later quit in 2005 to work on Phanindra Sama first startup. © 2014-2020 Yo! On 22nd August, 2006, they managed to sell their first seat for Tirupati, to a woman who was working with Infosys and also managed to sell the rest of the four tickets within the five-day span. Phanindra Sama has started his own company at a very early age, which others can only dream of. Sarma also took action to make RedBus a successful company. He comes from a middle class family. These core values can be seen in the projects that we undertake, and the way in which we solve problems for our customers. Yo! ©2020 Biography Insider | Chairman of Manipal Global Education & former CFO of Infosys, Founder & Chairman of Dalian Wanda Group, Published On: Thursday, November 06, 2014. Their reach had crossed all boundaries and was making its way to unmatchable success but the news they announced next shook everyone to the core. A company that was named amongst the world’s 50 most innovative companies, alongside Apple, Facebook and Google by business magazine, started with a boom ended with a boom. Same was the case with Phanindra Sama and Sudhakar Pasupunuri when all three of them decided to create Redbus.in. More than Phanindra Sama date of birth, the date on which he turned entrepreneur is famous. But that didn’t affect them as the numbers spoke for themselves. It happened in June 2013, after which he quit and a different executive was appointed in his place. redBus currently runs in six countries – India, Malaysia, Indonesia, Singapore, Peru and Colombiaa… The company had grown 6x from the time of the initial round of investment but at the same time due to global crisis the valuation of the company went down. He became successful in creating India’s largest bus ticket booking platform. Frustrated! It now had 75,000 partner outlets and offers ticket booking services from the mobile via SMS and phone. Success Entrepreneur Community Invites You To Celebrate Your Success, Share Your Wisdom & Tell Us About Your Journey, Chairperson and Managing Director of Biozone Research Technologies Pvt. One of the rooms of the house they stayed in became their office. Enter your email address to subscribe and receive notifications of new posts by email. During doing his job at Texas Instruments, he felt the requirement of an online bus ticket booking platform from his bad experience of missing a bus one day. Phani was working as a Sr. All rights reserved. He found a solution to this problem and Redbus born as a result which now bridges the gap between the bus and the travelers. So in desperation they went out to market themselves and landed outside IT companies and distributed their redBus cards to the employees during lunch hours. Ltd, Founding Team members of Pangram Marketing and Solutions, Indiabulls – A success story of an unsung hero. That was the time they suddenly became very famous and VC’s started contacting them. Currently, he is the Chief Innovation Officer (CIO) of Govt. One day he missed a bus, and that’s how the idea of Redbus came into his mind. Your email address will not be published. It all began in the year 2005, when Phanindra a.k.a. The name of his wife is also unknown. She stays at home taking care of the children. The Redbus founder Phanindra Sama biography is about that. There are three founders of Redbus, apart from him. | Submit Biography |, Harshita Bhattacharya (Singer) Biography, Age, Songs, Movie(Ratnakar), Career & More, Preety Kongana Wiki, Age, Family, Husband, Serials, Songs, Biodata, Amanda Cerny Wiki, Age, Boyfriend, Filmography, Career, Net Worth & More, Deepshikha Raina Age, Wiki, Height, Songs, Net Worth, Biography, Dikshu Sarma (দীক্ষু শৰ্মা) Wiki, Age, Biography, Wife, Career, Albums, Songs, Awards, Miesha Iyer Bio, Age, Wiki, Height, Net Worth, Biography, Careers. Phanindra Sama was a very bright student from the very beginning. Have something to add to this story? Then he got Chevening Standard Chartered Financial Services Fellowship at King’s College London.