Vietnam’s online booking platform Vexere.com taps the bus transport segment for expansion

Visual from Vexere.com

The Vietnam-based online inter-provincial car booking system, Vexere.com has found success in the bus ticketing segment.

The founder Tran Nguyen Le Van gave up an opportunity to study for a higher university degree, to start a business and the company got funding at the early stage.

Founded in 2013, Vexere.comreceived undisclosed seed funding from Cyberagent Ventures Vietnam within an year of inception.

 

Also read: Startup Review 2014: Vietnam tech firms find success, expand overseas

Van quit the master of business administration scholarship in the US to concentrate his time on Vexere.com, walking the footsteps of Facebook founder Mark Zuckergerg and Microsoft CEO Bill Gates.

Van explained his decision saying :“We are staying in the explosion of technology, if I do not implement my idea soon, competitor will jump in and do it.”

In fact, Vexere.com is not the first one in the online ticket booking sector in Vietnam. His company’s competitors include, ticketbox.vn, triip.me, yesgo.vn and vntic.vn, etc. The differentiating factor with Vexere.com is that it taps the market category of bus transportation, while others are on flights, hotels, tours and events.

According to Van, the bus segment is large but quite fragmented. About 24 million passengers have to wait for an hour to buy tickets offline, each year, particularly during times of festivals; or during the July university entrance exam, when passengers traffic is very high.

According to him, it is a wasteful operation for a developing economy like Vietnam. In addition, as local buses do not often have the ability to calculate the volume of passengers, they usually take the detours to catch more travellers, causing a waste of time and additional costs.

“Online tickets make it easier for both passengers and bus operators like us,” acknowledged Nguyen Duc Minh, director of Anh Khoa Bus.

Customers can buy tickets that are cheaper by 10-50 per cent than through other methods, depending on the bus companies’ policies in collaboration with the website.

For future plans, Van wishes to transform the website into the largest portal of Vietnam with 1000 passenger cars.

However, there are also certain challenges to develop this kind of service, as the platform targets the low and medium class, who have irregular access to the internet.

Van alleged that devices connected to the Internet and data charges will be more affordable and online booking will be as well an inevitable trend for a vast of services.

After successfully launching Vexere.com, the Thunberbird School of Global Management, Arizona, called Van back to attend school, and manage to get his MBA degree.

Also Read:

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.