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redBus.in being valued at $110 mn

Fundraising discards traditional benchmarks, deal nearing closure

Pilani Soft Labs, the Bangalore-based company running redBus.in, the online bus ticketing service, is finalising its next round of fund raising at an aggressive valuation of as much as 11 times their net revenue of close to Rs 55 crore, thus valuing the company at $110 million (around Rs 605 crore). “It is an extremely aggressive valuation when compared to the average of around 4.5 times the net revenue some other travel aggregators are being valued at. I understand the deal is nearing the final stages, in which global private equity player Warburg Pincus is also in the ...