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.
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.