TicketGoose.com to raise more funds
Published in Hindu
The bus ticketing portal, plans to raise Rs. 75 crore to Rs. 100 crore by June this year.
TicketGoose.com, a bus ticketing portal, plans to raise Rs. 75 crore to Rs. 100 crore by June this year.
Company President and Co-founder Karthi Easwaramoorthy told The Hinduhere on Wednesday that the company was talking to investors. “The funds will come through venture capitalists mainly,” he said. It raised Rs. 25 crore from Indventure LLC in 2013-2014. TicketGoose.com has invested Rs. 40 crore so far, with 40 per cent of the money being used for information technology (IT) infrastructure.
The company had so far focused on the product and technology, and it will now build its brand. The funds to be raised would be used mainly for brand-building. The company is looking at Rs. 120 crore turnover in 2013-2014 and nearly 20 lakh tickets booked through its portal. Last year, the company’s turnover was Rs. 47 crore and 7.83 lakh tickets were booked through its portal.
It launched mobile applications for Android and iOS a month ago. The mobile applicationoffers GPS and bus tracking services .
The company would continue to focus on bus ticketing as the potential was huge, he said. It had tied up with 700 plus operators and plans to double it to 1500 by the end of next year, he added.