In the press
Droom raises $30mn funding; to buy back ESOPs worth Rs 50 cr

Online automobile marketplace Droom Thursday said it has raised USD 30 million (over Rs 200 crore) led by the family office of Japan-based investor, Joe Hirao.

Online automobile marketplace Droom Thursday said it has raised USD 30 million (over Rs 200 crore) led by the family office of Japan-based investor, Joe Hirao. The company, which has raised USD 125 million in funding till date, is also lining up an employee stock ownership plan (ESOP) repurchase programme, entailing a spend of about Rs 50 crore.

"We have been on a fantastic growth trajectory, which is reflected in the confidence of our investors. We have an annualised gross merchandise value (GMV) run rate of USD 750 million and are doing USD 20 million annual revenue run rate," Droom founder and CEO Sandeep Aggarwal told .

He added that the company has managed to keep its expenses under control and expects to hit profitability in the second half of 2019.

The company aims to double the GMV to USD 1.4 billion by end of 2018 and to USD 3.5 billion by 2019. The company plans to go for an IPO by 2020.

"Our employees have played a key role in this journey. The ESOP buyback will see us buying back shares from over 60 employees, and these people have been with the us for over three years or more," he said.

Aggarwal added that the repurchase initiative will entail an expense of about Rs 50 crore and will be completed by Diwali.

Talking about the fresh funding, he said the proceeds will be used to strengthen the platform and offerings like inspection and credit services.

"We aim to simultaneously strengthen and diversify our services such as inspection, Droom Credit, C2C and C2B marketplace formats, enable a smooth online transaction and provide more competitive terms and interest rates to customers through Droom Credit," he said.

Aggarwal added that the company is also looking to invest in advanced, emerging technologies such as IoT for its ECO segment and Blockchain for its credit facilitation services.

He, however, declined to comment on the valuation of the company.

In May, Droom had raised USD 30 million in series D, led by Toyota Tsusho Corporation (a Toyota Group firm), and Japan-based Digital Garage.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

Aggarwal said the company also expects to start its international operations by the end of the year.

"We are ready to launch in Thailand and Malaysia and we should be in these two countries by end of 2018. Different countries have different regulations and we will ensure that we comply with the local rules," he explained.

Droom has previously stated that it is investing USD 8-10 million towards international expansion and that the India business would continue to account for over 90 per cent of the company's revenues for the next two years.

The company also aims to expand its operations in 100 more Indian cities.

Droom is a Singapore Holding Company with subsidiaries in India and the US. Its other investors include Lightbox, Beenext, Beenos and Integrated Assets Management.

Droom raises $30 million in fresh funding round

Droom Technology has raised $30 million (about Rs 221 crore) in a fresh round of equity financing, led by two new investors, and which comes barely four months after the Singapore and Gurgaon-based company raised a similar amount from a clutch of investors.

The Series E round of funding was led by the family office of Joe Hirao, founder of ZigExN, the Tokyo-headquartered company that owns and operates a number of content-focused websites, ranging from jobs information and search and real estate, to the used car listings segment.

Additionally, a second new investor has also entered the company’s cap table. While the name was not disclosed, it is believed to be the family office of the founder of one of Japan’s largest auto dealership chain

The company, according to Sandeep Aggarwal, chief executive of Droom, will use the proceeds to further ramp up Droom Credit, its fin-tech product launched last year, and which provides auto financing to, both, dealers and buyers in the used car and bike segment.

“The latest round of fund will help us in our expansion goals and, accomplishment of our growth objectives and scaling up our technology to build efficiency. A substantial portion will also go towards building up Eco, the company’s automobile inspection services,” Aggarwal told ET.

According to the CEO, Eco, which was a marketplace model, connecting customers with mechanics, will also now have mechanics, who are on the Droom payroll, providing doorstep services.

Droom’s existing investors, which includes, Toyota Tsusho Corp, a unit of Toyota Motor Corp, the world’s largest auto maker, Digital Garage and venture capital firms, Lightbox, Beenos and Beenext, among others, have not participated in the latest round of equity financing.

It is, however, yet unclear if there has been any secondary transactions, along with the infusion of primary capital. Including this latest fund infusion, Droom has now raised $125 million in funding, since inception. It also values the four-year-old startup at about $750 million, post money.

The company is also undertaking a buyback of shares from employees. Aggarwal told ET that the Droom Board had approved a buyback up to Rs 50 crore, with the shares being acquired by the company at its last round’s valuation, which is estimated to be about $550 million.

“There are about 63 employees, who have spent over three years with the company, and hold stock options. We have decided to give them liquidity,” Aggarwal said.

The development comes about four months after Toyota Motor Corp, the world’s largest auto maker, made its debut investment in India, after leading a $30 million equity financing round in the automobile marketplace and auto services startup, and which was co-led by the latter’s existing backer, Digital Garage, in May.

The company, which is expected to enter the Malaysian and Thai markets by the end of the calendar year, reported revenue of $11 million in financial year 2017-18, up from $3.8 million in the previous fiscal.

Live Mint | Droom in news
Mint | Droom in news
The Hindu logo
Hindus | Droom in news
Financial Express | Droom in news
The Economics times
Economic Times | Droom in news
DNA | Droom in news
DNA | Droom in news
Droom raises $30 million to boost credit, certification services

Droom plans to utilize the capital to boost its credit services to buyers and dealers, inspection and certification services

Online automobile marketplace Droom has raised $30 million in a Series E round led by the family office of Japanese investor Joe Hirao.

Another Japan-based family office also participated in the round. Droom declined to name the investor.

Hirao, founder of ZIGExN, has backed several real estate and automobile ventures.

According to Sandeep Agarwal, co-founder and chief executive officer of Droom, Hirao is in talks with 20 Indian ventures and may invest in some of them.

In May, Droom had raised $30 million from Toyota Tsusho Corp., a unit of Japan’s automobile major Toyota Group, and Digital Garage. Founded in 2014, Gurugram-based Droom has so far raised $125 million. It plans to go public by 2020.

It plans to utilize the money to boost its credit services, besides its inspection and certification services.

It is also looking to invest aggressively in developing its machine learning and artificial-intelligence capabilities.

“The current Series E funding gives an immense fillip to us as we aim to simultaneously strengthen and diversify our services such as inspection, C2C and C2B marketplace formats, enable smooth online transaction and provide more competitive terms and interest rates to customers through Droom credit,” said Agarwal.

The start-up is targeting loan disbursements worth ₹150 crore in FY19 through its credit offering.

Droom’s platform serves as an online marketplace to buy and sell cars and two-wheelers. It also offers services such as fair value calculator, roadside assistance and auto loans.

The company is backed by Ellison Investments, an Asia-based investment manager; Hong Kong-based Integrated Asset Management Asia Ltd and several independent investors from China and Hong Kong.

It also counts Lightbox, Beenext, Beenos and Digital Garage as existing investors.

Droom said that it will liquidate employees stock options (ESOPS) worth ₹50 crore before Diwali this year.

“We will be allowing employees who have stayed for more than three years to liquidate their ESOPs. We thought it would be a good way to reward our people,” said Sandeep Agarwal.

Droom has also been eyeing international markets for long and will be operational in Thailand and Malaysia by the end of this year.

The company has allocated $8 million for expanding its footprint in overseas markets.

In India, Droom has forged a partnership with Swiggy to supply two-wheelers to its delivery fleet. Droom also has tie-ups with Ubermoto and over 20 other manufacturers, including Triumph and Hero Cycles.

According to Agarwal, the domestic online automobile transaction market is about $1 billion and is expected to grow to $20 billion in the next two years.

Droom, which competes with the likes of Cars24 and Carwale, claims to have a 75% share in the online automobile transaction market.

Droom was launched in 2014 by Sandeep Aggarwal, a co-founder of e-commerce firm ShopClues. The firm is registered in Singapore as Droom Pte. Ltd.

“Droom has done a fabulous job in creating India’s largest and 21st century online automobile transactional platform by leading the journey of reinventing pre-owned automobile transactions. The way they have created robust technology-based ecosystem services tools to address the fragmented and unorganized used automobile market, loan and insurance, and multiple marketplace formats such as B2B, C2C, C2B and C2C is very innovative and we are very happy to be a part of this great journey,” said Hirao.

Droom gets $30-mn funding, to buy back Rs 500-mn shares from employees

Online automobile marketplace Droom on Thursday said it has raised $30 million (over Rs 200 crore) led by the family office of Japan-based investor, Joe Hirao.

The company, which has raised $125 million in funding till date, is also lining up an ESOP repurchase programme, entailing a spend of about Rs 500 million.

"We have been on a fantastic growth trajectory, which is reflected in the confidence of our investors. We have an annualised gross merchandise value (GMV) run rate of $750 million and are doing $20 million annual revenue run rate," Droom founder and CEO Sandeep Aggarwal told PTI.

He added that the company has managed to keep its expenses under control and expects to hit profitability in the second half of 2019.

The company aims to double the GMV to $1.4 billion by end of 2018 and to $3.5 billion by 2019. The company plans to go for an IPO by 2020.

"Our employees have played a key role in this journey. The ESOP buyback will see us buying back shares from over 60 employees, and these people have been with us for over three years or more," he said.

Aggarwal added that the repurchase initiative will entail an expense of about Rs 500 million and will be completed by Diwali.

Talking about the fresh funding, he said the proceeds will be used to strengthen the platform and offerings like inspection and credit services.

"We aim to simultaneously strengthen and diversify our services such as inspection, Droom Credit, C2C and C2B marketplace formats, enable a smooth online transaction and provide more competitive terms and interest rates to customers through Droom Credit," he said.

Aggarwal added that the company is also looking to invest in advanced, emerging technologies such as IoT for its ECO segment and Blockchain for its credit facilitation services.

He, however, declined to comment on the valuation of the company.

In May, Droom had raised $30 million in series D, led by Toyota Tsusho Corporation (a Toyota Group firm), and Japan-based Digital Garage.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

Aggarwal said the company also expects to start its international operations by the end of the year.

"We are ready to launch in Thailand and Malaysia and we should be in these two countries by end of 2018. Different countries have different regulations and we will ensure that we comply with the local rules," he explained.

Droom has previously stated that it is investing $8-10 million towards international expansion and that the India business would continue to account for over 90 per cent of the company's revenues for the next two years.

The company also aims to expand its operations in 100 more Indian cities.

Droom is a Singapore Holding Company with subsidiaries in India and the US. Its other investors include Lightbox, Beenext, Beenos and Integrated Assets Management.

Droom raises $30 million funding, to buy back ESOPs worth Rs 50 crore

The company aims to double the GMV to USD 1.4 billion by end of 2018 and to USD 3.5 billion by 2019. The company plans to go for an IPO by 2020.

Online automobile marketplace Droom Thursday said it has raised USD 30 million (over Rs 200 crore) led by the family office of Japan-based investor, Joe Hirao.

The company, which has raised USD 125 million in funding till date, is also lining up an ESOP repurchase programme, entailing a spend of about Rs 50 crore.

“We have been on a fantastic growth trajectory, which is reflected in the confidence of our investors. We have an annualised gross merchandise value (GMV) run rate of USD 750 million and are doing USD 20 million annual revenue run rate,” Droom founder and CEO Sandeep Aggarwal told PTI.

He added that the company has managed to keep its expenses under control and expects to hit profitability in the second half of 2019.

The company aims to double the GMV to USD 1.4 billion by end of 2018 and to USD 3.5 billion by 2019. The company plans to go for an IPO by 2020.

“Our employees have played a key role in this journey. The ESOP buyback will see us buying back shares from over 60 employees, and these people have been with the us for over three years or more,” he said.

Aggarwal added that the repurchase initiative will entail an expense of about Rs 50 crore and will be completed by Diwali.

Talking about the fresh funding, he said the proceeds will be used to strengthen the platform and offerings like inspection and credit services.

“We aim to simultaneously strengthen and diversify our services such as inspection, Droom Credit, C2C and C2B marketplace formats, enable a smooth online transaction and provide more competitive terms and interest rates to customers through Droom Credit,” he said.

Aggarwal added that the company is also looking to invest in advanced, emerging technologies such as IoT for its ECO segment and Blockchain for its credit facilitation services.

He, however, declined to comment on the valuation of the company.

In May, Droom had raised USD 30 million in series D, led by Toyota Tsusho Corporation (a Toyota Group firm), and Japan-based Digital Garage.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

Aggarwal said the company also expects to start its international operations by the end of the year.

“We are ready to launch in Thailand and Malaysia and we should be in these two countries by end of 2018. Different countries have different regulations and we will ensure that we comply with the local rules,” he explained.

Droom has previously stated that it is investing USD 8-10 million towards international expansion and that the India business would continue to account for over 90 per cent of the company’s revenues for the next two years.

The company also aims to expand its operations in 100 more Indian cities.

Droom is a Singapore Holding Company with subsidiaries in India and the US. Its other investors include Lightbox, Beenext, Beenos and Integrated Assets Management.

Droom raises Series E funding of $30 mn

Automobiles marketplace start-up Droom has raised Series E funding of $30 million. It was led by the Family office of Japanese investor Joe Hiram, Founder ZIGExN. So far, it has raised $125 million..

The company will use the fund for its international expansion, certification services, scaling up its operations in 100 more cities and its financial offering Droom Credit.

The company’s net revenue is $20 million and achieved gross merchandise value of $750 million. Droom plans to go for an IPO by 2020.

Droom raises $30mn funding; to buy back ESOPs worth Rs 50 cr

Online automobile marketplace Droom Thursday said it has raised USD 30 million (over Rs 200 crore) led by the family office of Japan-based investor, Joe Hirao.

The company, which has raised USD 125 million in funding till date, is also lining up an employee stock ownership plan (ESOP) repurchase programme, entailing a spend of about Rs 50 crore.

"We have been on a fantastic growth trajectory, which is reflected in the confidence of our investors. We have an annualised gross merchandise value (GMV) run rate of USD 750 million and are doing USD 20 million annual revenue run rate," Droom founder and CEO Sandeep Aggarwal told .

He added that the company has managed to keep its expenses under control and expects to hit profitability in the second half of 2019.

The company aims to double the GMV to USD 1.4 billion by end of 2018 and to USD 3.5 billion by 2019. The company plans to go for an IPO by 2020.

"Our employees have played a key role in this journey. The ESOP buyback will see us buying back shares from over 60 employees, and these people have been with the us for over three years or more," he said.

Aggarwal added that the repurchase initiative will entail an expense of about Rs 50 crore and will be completed by Diwali.

Talking about the fresh funding, he said the proceeds will be used to strengthen the platform and offerings like inspection and credit services.

"We aim to simultaneously strengthen and diversify our services such as inspection, Droom Credit, C2C and C2B marketplace formats, enable a smooth online transaction and provide more competitive terms and interest rates to customers through Droom Credit," he said.

Aggarwal added that the company is also looking to invest in advanced, emerging technologies such as IoT for its ECO segment and Blockchain for its credit facilitation services.

He, however, declined to comment on the valuation of the company.

In May, Droom had raised USD 30 million in series D, led by Toyota Tsusho Corporation (a Toyota Group firm), and Japan-based Digital Garage.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

Aggarwal said the company also expects to start its international operations by the end of the year.

"We are ready to launch in Thailand and Malaysia and we should be in these two countries by end of 2018. Different countries have different regulations and we will ensure that we comply with the local rules," he explained.

Droom has previously stated that it is investing USD 8-10 million towards international expansion and that the India business would continue to account for over 90 per cent of the company's revenues for the next two years.

The company also aims to expand its operations in 100 more Indian cities.

Droom is a Singapore Holding Company with subsidiaries in India and the US. Its other investors include Lightbox, Beenext, Beenos and Integrated Assets Management.

Automobile Marketplace Droom Raises $30 Mn Series E Round

Gurugram-headquartered online automobile marketplace Droom has raised $30 Mn in a Series E round of funding, led by the family office of Joe Hirao, founder of ZIGExN. Another Japan-based family office fund also participated in this round of funding, however, the name of the fund remained undisclosed.

The company plans to use the Series E funds for investing heavily in developing Droom Credit, its marketplace for used vehicles loans. It aims to bolster its pan India inspection services and drive further adoption for certification services.

The total funding for Droom now nears $125 Mn since its inception. The Series E fundraise comes soon after $30 Mn Series D round of funding led by Toyota Tsusho Corporation (TTC), a Toyota Group Corporation company and Japan-based Digital Garage. At this point, the company also revealed its plans to go for an IPO by 2020. Earlier, the company raised $20 Mn in July 2017 and prior to that, undisclosed (reported to be around $30 Mn) Series B funding in June 2016.

Sandeep Aggarwal founded Droom in 2014, and Rishab Malik later joined him in 2015, to enable customers to buy and sell new and old automobiles and follows all four business models i.e. B2B, B2C, C2C, C2B. With the latest funding, Droom team is looking to further expand its presence into C2C, C2B marketplace and strengthen its network in more than 100 cities.

The company offers a wide range of categories from bicycle to planes. It also provides other automobile services such as warranty, RSA, insurance and auto loan. The company also uses advanced technologies like de-facto pricing standard, full circle trust score, among others. Recently, the company also expanded its portfolio into electric vehicles.

Here’s a quick look into some numbers of Droom:

  1. The company claims to record nearly $750 Mn in gross revenue
  2. $20 Mn in net revenue with the listed GMV of $6 Bn
  3. It has recorded more than 250k auto dealers in more than 550 cities across India on its platform with more than 33 Mn monthly visitors
  4. The company aims to double its gross merchandise value to $1.4 Bn by end of 2018 and $3.5 Bn by 2019

Droom has been helping their automobile dealers increase their consumer base and provides them with vehicle checks using its advanced data science algorithms. It charges an annual subscription to dealers and is also looking to earn revenue by introducing automobile credit, which will be provided to the consumers.

Some of the features Droom offers inclue:

  1. Orange Book Value feature, which gives the fair price of bikes and cars in the country
  2. An Auto inspection feature will also be rolled out for dealers
  3. Droom History, with about 200 Mn vehicle history records
  4. Droom Discovery for dozens of pre-buying tools
  5. Droom Credit, a marketplace for used vehicles loans
Automobile Marketplace: Bringing Offline Deals Online

With the increasing dependence of Indians on technology and growing trust in the segment, players like Girnarsoft, Cartisan etc have been leveraging the ease of online deals to make automobile selling easy.

In the automobile segment, Droom competes with the likes of Cartisan, Bumper, Pitstop, among others.

Girnar Soft, which has its offices in Jaipur, Hyderabad, Gurugram and Mumbai, controls automobile portals like CarDekho.com and Gaadi.com. The company recently raised $3.6 Mn (INR 25 Cr) in debt fund from Trifecta Venture Debt Fund-I.

Earlier in Febrauary 2017, a Mumbai-based online marketplace for buying and selling secondhand cars Truebil had secured $3 Mn from Chinese VC firm Shunwei Capital.

At the same time, Mumbai-based online automobile classifieds platform, CarTrade had raised $55 Mn in a fresh round of funding led by Singapore-based Temasek, and a US-based family office.

One of the major players in the segment is OLX, an online classifieds marketplace for auto, real estate and goods and services, which registered a 50% growth in the number of buyers in the pre-owned cars category last year.

According to an IBEF report, the Indian auto industry, one of the largest in the world, accounts for 7.1% of the country’s GDP.

The report has pegged the Indian automobile market at $125 Bn. Out of which, $100 Bn is the estimated share of automobile sales and remaining $25 Bn includes services.

It is expected to grow at a rate of about 10% to a whopping $225 Bn by 2020. With players like Droom making offline transactions come online, the sector has a huge potential for investors and customers alike.

Vehicle marketplace Droom raises $30 mn in Series E round

Droom, an online marketplace for new and used vehicles, has closed its Series E funding round at $30 million (Rs 220 crore at current exchange rates), a company statement said.

The round was led by the family office of Japanese investor Joe Hirao, who is the founder of multi-business firm ZIGExN, the statement said.

The Series E fundraising takes the total that the company has mobilised since inception to $125 million, the statement said.

The online marketplace will use the fresh capital to develop Droom Credit, expand its doorstep inspection services and for its certification services Orange Book Value, History, ECO and to build its consumer-to-consumer and consumer-to-business marketplaces.

The company also plans to invest the money for tech advancements including developing its machine learning and artificial intelligence capabilities for its products.

“Droom is also looking to invest in advanced, emerging technologies such as IoT for its ECO segment and blockchain for its credit facilitation services,” said founder and chief executive Sandeep Aggarwal.

The fresh fundraise comes shortly after the company in May raised $30 million (Rs 204 crore) in a Series D round led by Toyota Tsusho Corporation and existing investor Digital Garage of Japan.

Droom had received $20 million last July in a Series C round led by Integrated Asset Management (Asia) Ltd and Digital Garage. In July 2016, it had raised an undisclosed amount in a Series B round from venture capital fund Beenext, Digital Garage, Lightbox, Beenos, and others.

Aggarwal said that the latest round of funding will help the company meet its growth targets and scale up technology.

According to the statement, Droom aims to expand its operations to 100 cities across the country while also eyeing international presence. The company claims it has a 75% share of the online automobile market in India, generates close to $750 million in gross revenue and $20 million in net revenue.

The Gurugram-based company aims to double its gross merchandise value to $1.4 billion by the end of 2018 and $3.5 billion by 2019. The company plans to go for an IPO by 2020, the statement added.

In the online used-automobiles segment, Droom competes with Truebil, Zoomo, CarDekho, Carwale and CarTrade. Online classifieds platforms OLX and Quikr, too, operate in the segment.

Droom raises $30mn in Series E funding led by Japanese investor Joe Hirao

The company aims to double its gross merchandise value to $1.4 billion by end of 2018 and $3.5 billion by 2019

Online automobile marketplace Droom has raised $30 million in its Series E funding round led by the Japanese investor Joe Hirao, founder of ZIGExN.

“The company is aiming for an IPO in Nasdaq by 2020 under Droom Singapore and the international expansions will be under an entity Droom International,” said Sandeep Aggarwal, founder and CEO, Droom.

The funds will be used in Droom Credit, certification services such as OBV, History & ECO and others.

The company is heavily investing in developing Machine Learning and AI capabilities and emerging technologies such as IoT for its ECO segment and Blockchain for its credit facilitation services.

“The latest round of fund will help us in our expansion goals and accomplishment of our growth objective and scaling up our technology to build efficiency,” said Aggarwal.

The company aims to double its gross merchandise value to $1.4 billion by end of 2018 and $3.5 billion by 2019.

For its Diwali offers, Aggarwal said, “There will be multiple offers this year on the platform during this Diwali.”

The company is planning to launch in two international markets-- Malaysia and Thailand at the end of year 2018.

In May, Droom had raised USD 30 million in series D, led by Toyota Tsusho Corporation and Japan-based Digital Garage.

Droom raises $30 million in series E funding

Droom also plans to further strengthen its dominance in the online automobile marketplace segment and it will focus on scalability of its financial offerings, inspection, and marketplace formats beyond B2C.

Droom, an online marketplace for used automobiles, has raised $30 million in its latest round of funding. With this, the total funds raised by the company amount to $125 million in six rounds. The current round was led by the family office of Japan-based investor Joe Hirao, founder, ZIGExN.

The company plans to use the funds to bolster its doorstep pan-India inspection service Droom Credit, certification services such as OBV, History and ECO and C2C and C2B marketplaces, the company informed.

Droom also plans to further strengthen its dominance in the online automobile marketplace segment and it will focus on scalability of its financial offerings, inspection, and marketplace formats beyond B2C. The company will also invest heavily in developing machine learning and AI capabilities for its vast portfolio of products. Besides this, Droom is also looking to invest in advanced and emerging technologies such as Internet of Things (IoT) for its ECO segment and Blockchain for its credit facilitation services.

"The current series E funding gives an immense fillip to us as we aim to simultaneously strengthen and diversify our services such as inspection, Droom Credit, C2C and C2B marketplace formats, enable a smooth online transaction and provide more competitive terms and interest rates to customers through Droom Credit," said Founder and CEO Sandeep Aggarwal.

He further added "The latest round of fund will help us in our expansion goals and, accomplishment of our growth objectives and scaling up our technology to build efficiency. We are thankful to our investors who always believed in Droom and supported us relentlessly."

Earlier in the year, the company had raised $30 million funds in series D to expand internationally into nine South East Asian countries -- Indonesia, Malaysia, Philippines, Vietnam, Singapore, Thailand, Myanmar, Cambodia and Laos.

According to Aggarwal, they will start operations in two of these countries soon and in rest of them next year. The company is on a rapid expansion drive and plans to expand its operations in 100 more cities across the country. It also aims to double its gross merchandise value to $1.4 billion by the end of 2018 and $3.5 billion by 2019.

Online auto marketplace Droom closes $30m Series E round

Barely five months after its previous $30-million funding round, Indian online automobile marketplace Droom has raised a similar sum in its Series E round.

The latest round, led by the family office of Japanese investor Joe Hirao, founder of ZIGExN, takes the total funding raised by the company to $125 million.

In May, Droom had raised $30 million in its Series D round led by Japanese firms Toyota Tsusho Corporation and Digital Garage. The round also saw participation from Ellison Investments, an Asia-based investment manager, existing investors and a number of institutional investors and family offices from China, Hong Kong and Southeast Asia.

Droom is a Singapore holding company with subsidiaries in India and the US. The company has so far raised close to $125 million over six rounds of funding. Its key investors include Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, Integrated Assets Management besides the latest addition of Joe Hirao’s family office.

“The current series E funding gives an immense fillip to us as we aim to simultaneously strengthen and diversify our services such as inspection, Droom Credit, C2C and C2B marketplace formats, enable a smooth online transaction and provide more competitive terms and interest rates to customers through Droom Credit,” said founder and CEO Sandeep Aggarwal.

“The latest round of funding will help us in our expansion goals and, accomplishment of our growth objectives and scaling up our technology to build efficiency,” he added.

According to an official statement, the tech-led platform will also invest heavily in further developing its machine learning and AI capabilities for its products. It is also looking to invest in advanced, emerging technologies such as IoT for its ECO segment and blockchain for its credit facilitation services.

Droom, which has also been planning to enter the overseas markets starting with Southeast Asia, is, however, yet to embark on the initiative. The company claims to be generating close to $750 million in gross revenue and $20 million in net revenue and has plans to tap the IPO market by 2020.

The announcement follows recent news from Droom rival Cars24 picking up $50 million funding from venture capital major Sequoia Capital India. Sequoia is also an investor in another online marketplace for used cars, CarDekho. According to media reports, Cars24’s existing investors – Cayman Islands-based Kingsway FCI Fund and Toronto-based KCK Global – also participated in the latest funding round. The round is expected to have valued the company at $250 million.

In March this year, Sequoia had also led a $2.5 million Series B funding round in CarDekho, taking the company’s total funding to more than $70 million since its inception ten years ago. Last year in February, CarTrade had raised $55 million (about Rs. 366 crore) in a fresh round of funding co-led by existing backer Temasek and a US-based family office.

With $30 Mn Series E funds Droom brings Diwali gift for ESOPs holders

Within five months of raising $30 million Series D round, online automobile marketplace Droom has raised another round of $30 million from led by the family office of Japan-based investor, Joe Hirao.

The Sandeep Aggarwal-led company will use the Series E funds to strengthen the platform and offerings like inspection and its credit services called Droom Credit. Besides, the firm is also looking to invest in IoT for its ECO segment and Blockchain for the credit facilitation services.

The company is aiming to expand its operation in 100 more Indian cities and planning to launch International operations by 2018 starting with Thailand and Malaysia.

The latest round also brings good news for ESOPs holders as the company is looking for a buyback plan with Rs 50 crore in its kitty. According to Aggarwal, the company will buy shares from over 60 employees, and it will get materialised before Diwali.

Speaking to PTI, Aggarwal revealed that the company has an annualised gross merchandise value (GMV) run rate of $750 million and are doing $20 million annual revenue run rate.

The IPO-bound company further aims to double the GMV to $1.4 billion by end of 2018 and to $3.5 billion by 2019 and expects to hit profitability by the second half of 2019.

Droom which counts Lightbox, Beenext, Beenos, Toyota Tsusho, and Digital Garage as its major investors, has so far raised about $125 million risk capital.

Founded in 2014, Droom offers a wide range of categories from bicycle to planes and automobile services such as warranty, RSA, insurance, and auto loan.

The platform has over 250,000 auto dealers across 500 cities in India and 27.3 million monthly visitors.

Automobile marketplace Droom scores $30 million in Series E round

Online automobile marketplace Droom, has raised $30 million in its new Series E funding round, led by the family office of Joe Hirao, founder of ZIGExN. The round also witnessed participation from an unnamed Japan-based family office fund. The round comes just months after Droom raised a similar amount from different set of investors.

The newly infused capital will be used by the Gurgaon-based company for investing heavily in developing Droom Credit, its marketplace for used vehicles loans. It also plans to bolster its pan India inspection services and drive further adoption for certification services.

The funding will also help the company to further expand its presence into C2C, C2B marketplace and strengthen its network in more than 100 cities.

Sandeep Agarwal, founder and CEO of Droom, said:

The latest round of fund will help us in our expansion goals and, accomplishment of our growth objectives and scaling up our technology to build efficiency. A substantial portion will also go towards building up Eco, the company’s automobile inspection services.

So far, the company has raised around $125 million in external funding since its inception. This new Series E funding comes just a few months after the company raised $30 million in Series D round in May this year, led by Toyota Tsusho Corporation (TTC) and Digital Garage.

The automobile marketplace, founded in 2014 by Sandeep Agarwal, who had previously co-founded online e-commerce platform ShopClues, has also revealed its plans to go for an IPO by 2020. It competes against the likes of Cartisan, Bumper, and Pitstop, among others.

Droom raises $30mn funding, to buy back ESOPs worth Rs 50 cr

Online automobile marketplace Droom Thursday said it has raised USD 30 million (over Rs 200 crore) led by the family office of Japan-based investor, Joe Hirao.

The company, which has raised USD 125 million in funding till date, is also lining up an ESOP repurchase programme, entailing a spend of about Rs 50 crore.

"We have been on a fantastic growth trajectory, which is reflected in the confidence of our investors. We have an annualised gross merchandise value (GMV) run rate of USD 750 million and are doing USD 20 million annual revenue run rate," Droom founder and CEO Sandeep Aggarwal told .

He added that the company has managed to keep its expenses under control and expects to hit profitability in the second half of 2019.

The company aims to double the GMV to USD 1.4 billion by end of 2018 and to USD 3.5 billion by 2019. The company plans to go for an IPO by 2020.

"Our employees have played a key role in this journey. The ESOP buyback will see us buying back shares from over 60 employees, and these people have been with the us for over three years or more," he said.

Aggarwal added that the repurchase initiative will entail an expense of about Rs 50 crore and will be completed by Diwali.

Talking about the fresh funding, he said the proceeds will be used to strengthen the platform and offerings like inspection and credit services.

"We aim to simultaneously strengthen and diversify our services such as inspection, Droom Credit, C2C and C2B marketplace formats, enable a smooth online transaction and provide more competitive terms and interest rates to customers through Droom Credit," he said.

Aggarwal added that the company is also looking to invest in advanced, emerging technologies such as IoT for its ECO segment and Blockchain for its credit facilitation services.

He, however, declined to comment on the valuation of the company.

In May, Droom had raised USD 30 million in series D, led by Toyota Tsusho Corporation (a Toyota Group firm), and Japan-based Digital Garage.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

Aggarwal said the company also expects to start its international operations by the end of the year.

"We are ready to launch in Thailand and Malaysia and we should be in these two countries by end of 2018. Different countries have different regulations and we will ensure that we comply with the local rules," he explained.

Droom has previously stated that it is investing USD 8-10 million towards international expansion and that the India business would continue to account for over 90 per cent of the company's revenues for the next two years.

The company also aims to expand its operations in 100 more Indian cities.

Droom is a Singapore Holding Company with subsidiaries in India and the US. Its other investors include Lightbox, Beenext, Beenos and Integrated Assets Management.

Used cars are a low-trust market. A bunch of startups wants to change that.

The likes of CarTrade, CarDekho, Cars24, and Droom are adopting new ways to generate revenue while making dealings more transparent and middleman-free.

Engine, gearbox, brakes – check. Infotainment and interiors – check. Headlamps, tyres, and exteriors – check. Sounds like the final computerised checks on your brand-new car at the state-of-the-art shop floor before it is delivered? Well, that was an inspection-service technician doing due diligence on a pre-owned car about to find a new buyer.

How Droom’s hiring policy is unique for a startup

The startup has devised hiring strategies to bring the right talent on board and nurture them to grow in the organisation.

In addition to their flexible culture and innovative products, startups are known as places where employees get the freedom to take on greater responsibilities. However, if you go by the estimate of industry experts, the attrition rate at Indian startups is typically between 50 per cent and 80 per cent. Most deal with constraints of resources, excessive competition and constant change, which make it difficult to hire and retain talent. Like any other aspect of its business, hiring is crucial for online automobile marketplace, Droom Technology.

The startup is growing rapidly and has recently received $30 million equity financing from Toyota Motor Corp., one of the world’s largest auto makers.

Droom has emerged as one of the country’s largest marketplaces, by building the technology and the product portfolio to address the trust deficit that exists in the used automobile market.

Startups usually don’t follow a structured HR process and nobody has time to track employee attrition. Most startups have to deal with ambiguity and chaos to keep up with the pace.

However, Droom’s founder, Sandeep Aggarwal, believes that a startup can grow and sustain only if it has a strong hiring policy and is able to attract the best talent. At the onset of its operations, the Droom had focused on the hiring process and devised ways and means to improvise its strategy.

“Dependency on the right people is of utmost importance for a startup. Sometimes, startups grow at a much faster rate than the growth of the industry because of which the right investment in human resource is critical,” adds Agarwal.

Since its inception Agarwal has personally interviewed 250 employees, independent of the candidate's salary, title, role, position and more. The Company has spelled out 12 core competencies and values, which include passion, energy, learning from mistakes, frugality, long-term approach, high work ethics and more. “We feel that people may come from different backgrounds, but there are some common threads that we need to figure out to unleash their true potential,” says Agarwal.

The selection process involves three–four rounds of interview, where the candidate gets the opportunity to evaluate the Company as well. While waiting for the next round, the candidate gets a tab which offers an understanding of the Company’s operations. As a consumer brand, the Company ensures that the whole process leaves a lasting impression on the applicant.

It has been able to retain most of its staff since inception, and out of the first 50 employees only three have left the firm. The startup, with presence in over 500 cities, has close to 300 employees.

Droom’s Orange Book Value Crosses 200 Million Users in India

New Delhi, August 21, 2018:- Droom, India’s pioneering online automobile transactional marketplace, had introduced its unique and path-breaking pricing engine, Orange Book Value (OBV) in 2016. The benchmark pricing engine that measures the fair market value of any used automobile has generated a whopping 200 million userbase within 28 months of its operations out of which, 100 million users came onboard in the first 20 months and next 100 million users registered themselves in the last 8 months itself. After acquiring such a huge user base and becoming industry defacto standard for pricing, OBV has also become 3rd largest search engine in India.

The process to determine the value of pre-owned vehicles has always been difficult as it was completely dependent on individual evaluation parameters without having a statistical or scientific perspective. However, with the launch of the unique online tool, buyers and sellers are able to come to a conclusive consensus in terms of pricing. Droom’s OBV gets close to 15 million users on OBV every month to obtain a fair market value of a used vehicle in less than 10 seconds! The algorithmic pricing engine covers a wide spectrum of vehicle categories, including cars, motorcycles, scooters, bicycles, and planes in its evaluation base, covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants produced in the last 15 to 16 years.

Commenting on the soaring popularity of OBV, Sandeep Aggarwal, Founder and CEO, Droom, said, “It is overwhelming to see millions of Indians relying on a product as unique and useful as OBV before finalizing their vehicle sale and purchase. OBV has not only made buying and selling of pre-owned vehicles hassle-free and easy but also has brought down the search time and search cost for used vehicles. With the help of OBV, we have generated a series of checkpoints based on statistical evidence, pricing based algorithms and prior industrial trends to arrive at a price decision that has been comprehensively calculated. As India’s pre-owned automobile market shows an uptick, due to rapid urbanization, changing consumer needs and growing internet penetration, we look forward to serving more consumers, auto dealers and enterprises, and further strengthening our position in the realm of automobile buying and selling space.”

Used luxury cars outrun sales of new ones in 2018

CHENNAI: Used luxury cars are growing at double the speed of new luxury vehicles and at least 50 per cent faster than 2017. According to used car marketers, the luxury segment is currently growing at a 22 per cent clip compared to 12 per cent for new luxury vehicles.

E-auto platform Droom founder & CEO Sandeep Aggarwal said, “Last year, new luxury cars grew at 11 per cent and used ones grew at 14 per cent, while the year before they grew at 9 per cent and 12 per cent respectively.”

Driving the growth is a demand shift from new premium and executive models — like the Skoda Superb or Volkswagen Passat — to used luxury vehicles, as the pre-used segment attracts completely new markets and customer segments compared to new luxury cars.

According to Aggarwal, the growth is driven by more “aspirational” customers who prefer a “three-year-old 3 Series over a new Skoda Superb”.

Droom's Orange Book Value crosses 200 Mn users in India

After acquiring such a huge user base, OBV has also become the third largest search engine in India.

New Delhi [India], Aug 21 (ANI): Online automobile transactional marketplace Droom, which had introduced its unique and path-breaking pricing engine, Orange Book Value (OBV) in 2016, has announced that the price engine has generated a whopping 200 million user base within 28 months of its operations.

After acquiring such a huge user base, OBV has also become the third largest search engine in India.

Droom's OBV gets close to 15 million users on OBV every month to obtain a fair market value of a used vehicle in less than 10 seconds! The algorithmic pricing engine covers a wide spectrum of vehicle categories, including cars, motorcycles, scooters, bicycles, and planes in its evaluation base, covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants produced in the last 15 to 16 years.

"With the help of OBV, we have generated a series of checkpoints based on statistical evidence, pricing based algorithms and prior industrial trends to arrive at a price decision that has been comprehensively calculated," said founder and CEO, Droom, Sandeep Aggarwal.

Used luxury cars outrun sales of new ones in 2018

CHENNAI: Used luxury cars are growing at double the speed of new luxury vehicles and at least 50 per cent faster than 2017. According to used car marketers, the luxury segment is currently growing at a 22 per cent clip compared to 12 per cent for new luxury vehicles.

After acquiring such a huge user base, OBV has also become the third largest search engine in India.

Droom's OBV gets close to 15 million users on OBV every month to obtain a fair market value of a used vehicle in less than 10 seconds! The algorithmic pricing engine covers a wide spectrum of vehicle categories, including cars, motorcycles, scooters, bicycles, and planes in its evaluation base, covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants produced in the last 15 to 16 years.

"With the help of OBV, we have generated a series of checkpoints based on statistical evidence, pricing based algorithms and prior industrial trends to arrive at a price decision that has been comprehensively calculated," said founder and CEO, Droom, Sandeep Aggarwal.

Financial express
Financial Express | Droom in news
Which are the next desi unicorns?

The Indian start-up story is reminiscent of Flipkart, Ola, Paytm, Zomato, Quikr, ShopClues, InMobi, ReNew Power and Hike, all of which have crossed $1 billion in valuations. But when the sector is touted as a key job creator, with the ability to generate over 2,50,000 jobs across over 10,000 start-ups in the next two years, could India produce more unicorns?

Data by CB Insights reveals these nine Indian unicorns are now part of the exclusive Global Unicorn Club, comprising 214 companies, and collectively worth $745 billion. But compared to China with 46 unicorns (including Xiaomi, Lu.com, Toutiao, etc) and the USA, which is home to over 50% of the global unicorns, India trails far behind.

"Earlier, there were no Indian unicorns. Now there is more than a handful, which is great. This reflects the potential and promise our entrepreneurs hold. We will see a lot more unicorns from India in the future,'' says Vivek Mansingh, general partner, YourNest, an early stage fund house.

Experts say the start-up equation in India cannot be compared with that of the USA, where this culture is at least four to five decades old.

According to Sucharita Eashwar, founder and CEO, Catalyst for Women Entrepreneurship, it is hardly 10 years since both the regulatory/governance and funding norms as well as the culture transformed to encourage and enable new-age firms. "Till then, educated Indians were applauded for getting jobs with established corporations. Banks were wary of providing credit, while equity investors were not interested in start-ups."

Abolition of tax collected at source on e-commerce may be on cards

E-commerce players might finally see the scrapping of the proposed tax collected at source (TCS) under the goods and services tax (GST) regime if proposals for draft policy on this sector are implemented. The proposals by a panel say that TCS be revisited, which according to the players mean that the concept be abolished altogether.

TCS at the rate of up to one per cent is yet to be implemented as it has been deferred till September this year. A spokesman of online marketplace ShopClues says, "Not only for the benefit of e-commerce companies but also for MSMEs and sellers ...

Sandeep Aggarwal – Founder Of Droom

“ WHEN I STARTED MY STARTUP IN 2010 UNTIL NOW WE HAVE SEEN A COMPLETE CHANGE IN TERMS OF HOW MANY PEOPLE WANTTO BE AN ENTREPRENEUR. FAILURES ARE NOTTHE STIGMA, THEY ARE CELEBRATORY. ’’

Exhibit: What was the key idea that inspired you to start Droom?

India is the third largest automobile market in the world. From the time Henry Ford invented assembly line, the cars have become very advanced but that is not the case when it comes to buying and selling a vehicle. Unlike the US, India is a low trust market. We thought wouldn’t it be nice to come out with a marketplace and hence we started working on Droom.

5 things to do before you sell your beloved used car

Everyone wants the best deal for his or her old car, but selling a used car is not as simple as it may seem; these 5 tips may help you

No matter how much you love your car, the model will go old one day and its systems will start malfunctioning. Selling it off or exchanging it for a new one is inevitable, and it should be done at the right time. However, selling a used car is not as simple as it may seem.

Once you start planning to sell your old car, the first consideration that comes to your mind is whether you would get the right price.

You may choose to sell it though those used car shops, but will have to part with a cut. And if you plan to sell it privately through dealer websites, that process too is quite cumbersome and exhausting — listing the car on the website, taking calls from interested buyers, offering a few test drives, striking a deal and finally the transaction.

Selling an old car calls for making strategic moves at every step to get the maximum value. Here are a few tips that you can consider before you part with your beloved car:

1. Do proper market research

It is crucial for you to know the exact condition of the car you are going to sell off — mileage, overall condition, specific features or any development/changes or issues etc. You must also check out cars from the specific year, make and model put up for sale on various dealer websites. Online classified ad websites such as Truebil, Droom, Cars24, Quikr etc list all the old cars up for sale, a perusal of which can help you determine the average price range for a car similar to yours. Sellers can also figure out the number of vehicles currently available for sale in their area. Older or unique vehicles might take longer to find buyers.

2. Get an assessment of your used car done

Before selling your old car, you must find out whether it is actually ready for sale. Try to sell a used vehicle with old tires, major scratches or dents, broken headlights or taillights to private individuals might be counterproductive. Buyers generally avoid a car with such and other flaws. A smart piece of advice will be to find someone who can give a balanced opinion about the condition and saleability of your car.

Once you have detected the issues, spend some time and money fixing them to prepare your car for sale. Even though changing the clutch plate, fixing power windows and repairing the dents may be an expensive proposition, but they can help you ensure a good price for your used car.

3. Evaluate the price range

According to available data, Indians are opening up to buying and selling used cars big time. For every two new cars sold, there are three used cars getting sold. To close the deal quickly, it is hence crucial to do some swift homework and find the best value for your car.

You can find help online in this regard. At Truebil, you can get a detailed inspection report prepared on the basis of the car’s condition, age, mileage, number of kilometers driven etc. Using its TruePrice metrics, a proprietary car pricing tool, the seller is then given a quote. Another platform, Doom, offers an OBV Premium Report that suggests the fair value of any used car by analysing all the user-given inputs.

4. Keep all your documents in order

While you get the price determined, don’t forget the documentation part. For a clean transaction, all documents of your used car are necessary, to prove that the inputs given by you are authentic. The mandatory documents include insurance papers, the registration certificate of your, Pollution Under Control certificate, and a no-objection certificate from your in case you had taken a loan to buy the car.

Another important to keep in mind is a fully insured car with zero depreciation has a higher resale value than the one with a basic insurance. It improves your chances of getting shortlisted.

5. Create a striking ad and publish it

Now that you are ready for the deal, having completed all the refurbishing, assessment, price evaluation and documentation, it’s time to market your prized possession that you are going to part with. You need to put up an ad on websites for which you have to make sure it stands out amid the sea of sellers out to lure your potential buyer.

Click proper and clear images of the car, inside out, to be posted along with a striking headline. The photos should be accompanied with a compelling description of your vehicle, complete with useful specifics and a detailed summary.

Planning To Sell Your Car? Here Is What You Need To Do Before You Go Ahead

Everyone wants the best price for their car but if one is thinking of selling it privately, it's not as simple as it may seem

Almost every car owner at one point in life decides to sell his/her vehicle due to innumerable reasons. But the common thing that prevails among all the sellers apart from the sentiments attached to the car is the value they are expecting to receive after selling the vehicle. Everyone wants the best price for their car but if one is thinking of selling it privately, it's not as simple as it may seem; listing the car on a website, taking a few calls, offering a few test drives and finally striking the deal with the buyer followed by the transaction itself – the process can be cumbersome and quite exhausting.

Being absolutely new to the car-selling process can be an unusual experience. This calls for a certain amount of effort to be put in by the seller and making a strategic move at every step to get the maximum value of a car from the buyer. So here are a few things that need to be considered before you let go of your beloved car with the best possible value:

Market Research

Before selling a car, it is crucial to have a thorough knowledge about the condition of the vehicle in terms of its mileage, overall condition, specific features or any development/changes or issues. After that, one must find cars from the specific year, make and model available on various dealer websites and popular online classified ad websites like Truebil, Droom, Cars24, Quikr to determine the average price range for a car in this condition. By investigating on various platforms, sellers can figure out the number of vehicles that are presently available for sale in their area. For an older or unique vehicle, sellers must be aware that it will take longer to sell because potential buyers would be few.

Car Assessment

Find out whether your car is actually ready for sale as many of you try to sell your vehicles with old tires, major scratches or dents, broken headlights or taillights, and other flaws. Buyers usually avoid a car with that kind of problems. The smart thing to do in such cases is to find a person who can give a balanced opinion about your car instead of a biased one. Once the defects and problems are detected, spend some money and time reconditioning your car for sale. Problems like changing the clutch plate, getting the power windows fixed and the dents repaired might turn out to be a bit expensive, but they can also go a long way in terms of getting a good price for your car.

Evaluating the price range of your car

Indians are rapidly opening up to the idea of buying and selling used cars as for every 2 new cars sold, 3 used cars are sold at the same time which indicates the intense competition and high level of customer attrition. Thus, to close the deal quickly, it is crucial to do swift homework and find the best value of the car. Online platforms like Truebil create a detailed inspection report prepared on the basis of the car’s condition, age, mileage, number of kilometers driven etc, after which the seller is given a quote using TruePrice metrics. TruePrice is a proprietary car pricing tool which uses advanced technology to give a data-driven intelligent assessment of the car's current value, based on complex pricing models which account for a vast number of variables. Meanwhile, platforms like Droom have come up with an OBV Premium Report that suggests the fair value of any used car by analyzing all the inputs given by the user. It comes up with the current market price of the vehicle depending upon its overall condition that helps the buyers and sellers come on the same page in terms of pricing.

Collect all the documents

Once the price has been determined, it’s time to focus on the documentation. Yes! You read that right. Documents of your car are necessary for a clean transaction and they are a proof that the data given by you is authentic. The mandatory paperwork includes Insurance papers, Registration certificate, PUC and Bank NOC (only if there is any loan taken for the same). Remember, a fully insured car with zero depreciation has a higher resale value than the one with a basic insurance as it improves your chances of getting shortlisted. So collect all the mentioned paperwork before you decide to sell your car.

Create and Publish Your Ad

They say the first impression is the last impression. And, now that you are well-equipped with all the refurbishing, documentation, and price evaluation, click proper and clear images of the car inside-out and pair them with a compelling description of your vehicle. After all, there might be hundreds of sellers luring your potential buyer in other ads. Make sure you have a striking headline, photographs, and a detailed summary with useful details.

Will Have Integrated Approach Towards TV And Online For The First Time: Sandeep Aggarwal

Droom, an online marketplace to buy and sell used vehicles, has increased its marketing spends from Rs 225 crore to Rs 400 crore. This is a 77 percent increase from the previous year, and out of the new total budget, Droom has allocated Rs 150 crore for the digital medium alone.The e-commerce platform is in its fourth year.

Sandeep Aggarwal, Founder & CEO, Droom, talks more about the pre-owned automobile market in India, revenue model and the marketing strategy they adhere to. Excerpts:

You have almost doubled your marketing budget. This shows 2017-18 was good in terms of revenue. What all did you achieve in the last year?

We have doubled our budget, because we have quadrupled in terms of GMV and net revenue. We have seen a 30% increase in our workforce, close to 217% increase in our GMV, and around 370% increase in our net revenue in comparison to last year. That’s the reason our marketing budget has doubled, in fact, our overall top line growth has been much faster than the increase in the marketing budget. We are ready to take our brand to the masses. Droom has allocated Rs 150 crore to digital marketing alone. What new will we be seeing from your end?

A total of four television campaigns are in the pipeline over the next 12 months. The first campaign will focus on the auto portal’s Orange Book Value offering — a pricing tool — and is scheduled to run for two months across 37 television channels, pan India. The next campaign will be launched in August to position Droom as a partner in the entire lifecycle management of the vehicle. This will be followed by another burst around Diwali on auto financing for Droom Credit. Also, this year, the focus is more on Hindi channels with the portal seeing increased traffic from tier II cities and beyond. The share of Hindi channels will be 65%, while the share of non HD channels will be 80%. Droom will also have an integrated approach towards TV and online for the first time, with parallel video ads running on digital along with TV for brand creation.

Rs 150 crore is segregated between ATL and BTL activities. How does BTL work as a medium for the company?

Our marketing budget goes into ATL, BTL, Digital and PR activities. BTL advertising is an integral part of our marketing initiatives. This provides a more personal touch where we can engage and communicate with the audience. As a brand, we get valuable feedback while creating a long lasting impact on the consumers' mind. We have experimented with various formats; from creating experiences like chopper, plane, supercar and superbike rides in partnership with Uber, to activations in auto markets, where we provide instant valuation of any vehicle.

The used car market is quite scattered in India and several other companies tried bringing it online, but no one has really succeeded. Comment.

There may be a lot of online automobile player due to its large market share, which is 12% of the Indian GDP and almost all large automobile industries across the globe have 6-8 or more meaningful multi-billionaire online automobile players. Even when we started we had very little capital and online classifieds such as Olx and Quickr, and online store platforms such as Car Dekho, CarWale, Gaadi.com, were all very big, but this fact did not discourage us because we focused on our original thinking, innovation, customization, and our competition. We currently hold 70% market share of all the automobile transactions taking place online, so we have already beaten competition. We get 33 million traffic, which is probably larger than any other automobile-focused portal. So, we feel that we can dominate this category for the next four decades.

How do you plan to disrupt the pre-owned automobile market? Offers and promotions don't last forever, what other strategies do you have?

We intend to strengthen our ongoing efforts by reaching out to more consumers with this amplified monetary allocation.

We will be running several campaigns soon, as I said, that focus mainly on the innovative mechanisms adopted by Droom. We aim to offer our customers listed certificate packages that include certificates for pricing history and inspection. In August, we want to focus on auto financing too. Droom has tied up with numerous insurance companies to provide customers with policies. Furthermore, Droom has one of the largest RTO networks, ensuring that customers are able to complete their RTO transfers seamlessly.

From researching about the vehicle to buying, maintaining and disposing it, Droom aims to emerge as the one-stop solution for all these needs.

What is your long-term revenue strategy? What percentage of commission are you playing at currently?

Currently, we are making 2.5% of our GMV net revenue. This number used to be 1.7% just a year back, so we have seen 80 basis points improvement in our net revenue and we think in the next one year we will be running at close to 3.5% and above that we are expecting full profitability. Unlike any other e-commerce company, we have five different distinct revenue sources, and each one is growing rapidly. Out of these five-revenue sources is transactional revenue sources, where someone sells automobiles or automobile services and we make a commission anywhere between 2%-15%. Second is, we provide subscription service to large dealers, third is advertising, fourth is premium tools such as a premium report from Orange Book Value, ECO and HISTORY and fifth is Loan and Insurance. These Five distinct revenue sources are ramping up very nicely and we think in a year’s time, we will be profitable.

Droom-uberMOTO enters into a strategic partnership to assist the driver community

Online automobile transactional marketplace Droom on Monday announced its strategic partnership with uberMOTO under which the drivers will be offered assistance to source a new or used bike from Droom.

In a move to facilitate fleet solutions, a division of Droom will penetrate deeper into the drivers' community and reinforce its leadership position in the online automobile marketplace segment.

The partnership will enable a large number of uberMOTO drivers to procure a quality two-wheeler easily, with ability to get loan, insurance, certification and RTO registration services besides incredible discounts and deals on offer.

However, Droom will simplify the on-boarding process for Uber as well as the riders. Instead of reaching out to multiple dealers to source the bikes, uberMOTO will now be able to easily coordinate with Droom fleet solutions and fulfill the requirements of the drivers at bulk.

"This partnership guarantees a win-win situation for both the stakeholders involved. While Uber drivers are guaranteed better access to not only high quality and wide variety of new and pre-owned bikes at fabulous prices, but also to penetrate the driver community strongly," said founder and Droom, Sandeep Aggarwal.

"Our partnership with Droom will enable more driver's partners to explore and pursue micro-entrepreneurship opportunities through bike-sharing by using the uberMOTO app. This is also an important step towards fulfilling our commitment to ensure last mile connectivity in an easy and affordable way," said Regional General Manager, Uber India and South Asia, Prabhjeet Singh.

Through this partnership Droom will be offering its services in all the 12 cities in India where uberMOTO is operational in real time which includes Gurgaon, Noida, Ghaziabad, Jaipur, Lucknow, Kanpur, Chandigarh, Ludhiana, Ahmedabad, Faridabad, Hyderabad and Amritsar.

This brand-new and exciting partnership of Droom with uberMOTO will help to further strengthen its foothold in the pre-owned online automobile market and reach out to a wider audience in the coming time.

Droom enters into a strategic partnership UberMoto

The move is facilitated by Droom fleet solutions, a division of Droom, to penetrate deeper into the drivers’ community and reinforce its leadership position in the online automobile marketplace segment. At present, Droom has already initiated its assistance and services for the drivers in Gurugram and aims to expand its footprint across India.

New Delhi: Online automobile transactional marketplace, Droom has entered into a strategic partnership with uberMOTO, the company said in a press release. Under the association, all the new uberMOTO drivers will be offered assistance to source a new or used bike from Droom.

The move is facilitated by Droom fleet solutions, a division of Droom, to penetrate deeper into the drivers’ community and reinforce its leadership position in the online automobile marketplace segment.

At present, Droom has already initiated its assistance and services for the drivers in Gurugram and aims to expand its footprint across India.

The partnership will enable a large number of uberMOTO drivers to procure a quality two-wheeler easily, with ability to get loan, insurance, certification and RTO registration services besides incredible discounts and deals on offer. Droom will simplify the onboarding process for Uber as well as the riders.

Instead of reaching out to multiple dealers to source the bikes, uberMOTO will now be able to easily coordinate with Droom fleet solutions and fulfil the requirements of the drivers at bulk.

Commenting on the strategic alliance, Sandeep Aggarwal, Founder and Droom, said, “This partnership guarantees a win-win situation for both the stakeholders involved. While Uber drivers are guaranteed better access to not only high quality and wide variety of new and pre-owned bikes at fabulous prices, but also to penetrate the driver community strongly.”

Commenting on the partnership, Prabhjeet Singh, Regional General Manager, Uber India and South Asia said, “As 2 wheelers are ubiquitous in India, the nation has the opportunity to unlock the potential of shared mobility through optimal utilisation of existing vehicles on the road. Our partnership with Droom will enable more driver’s partners to explore and pursue micro-entrepreneurship opportunities through bike-sharing by using the uberMOTO app. ”

Through this partnership Droom will be offering its services in all the 12 cities in India where uberMOTO is operational in real time which includes Gurgaon, Noida, Ghaziabad, Jaipur, Lucknow, Kanpur, Chandigarh, Ludhiana, Ahmedabad, Faridabad, Hyderabad and Amritsar. This brand-new and exciting partnership of Droom with uberMOTO will help to further strengthen its foothold in the pre-owned online automobile market and reach out to a wider audience in the coming time.

GST anniversary: A simplified tax regime has improved ease of doing business, but barriers remain: Entrepreneurs

The GST has helped organise the unorganised sector to a large extent, and, in many cases, has revolutionised entire industries. But, pain-points remain.

The Goods and Services Tax (GST) regime celebrated its first anniversary on 1 July. The biggest tax reform since independence, the GST was rolled out at midnight on 30 June by Prime Minister Narendra Modi and the then President Pranab Mukherjee, in the central hall of Parliament. GST has subsumed over a dozen local taxes in its stated aim of 'One Nation One Tax'.

Over 1.11 crore businesses are registered under the GST. Firstpost spoke to companies to find out what they view as the positives and the pain-points of the indirect tax regime. Almost everyone we spoke to said the GST has helped organise the unorganised sector to a large extent, and, in many cases, has revolutionised entire industries. However, our interviewees did dwell on certain aspects, in the GST regime, that can be improved. Industry speak follows:

Simplicity, clarity and comfort: The main aim of the GST was a simplified tax system. Being deliberated for over 15 years, it became a reality under the Narendra Modi government. The Centre was clear that if there were contentious issues, the GST Council would meet every month to sort them out. Farshid Cooper, Managing Director, Spenta Corporation, said that in the case of real estate, there 'seems' to be significantly more clarity and comfort from a buyers' perspective. The revision of rates from 28 percent to 18 percent for several construction materials helped vendors manage their cash flows more efficiently.

"People are more aware about their rights such as asking for a GST reduction benefit," said Adhil Shetty, co-founder & CEO, BankBazaar.

Boosts formal employment: The GST has given a boost to formal employment. Suchita Dutta, Executive Director, Indian Staffing Federation said that post-GST implementation, there is an incentive for customers to choose the services of tax-compliant staffing companies, which allows them to claim input tax credits (ITCs) that aren't available as a benefit. Leg-up to manufacturing: GST has been able to reduce administrative costs for both manufacturers and distributors. Abhishek Agarwal, co-founder, Globepanda, said that it provides credit to producers and manufacturers that encourages them to buy from registered dealers, who in-turn bring more vendors and suppliers into the tax bracket.

On the first anniversary of GST, Union Minister Arun Jaitley said that as the tax collection from GST goes up, the tax structure would be rationalised further. He also said that the government is aiming to bring most items in the 28 percent tax slab to the lower slabs.

Addition of compliance work: The most persistent problem around GST has been the addition of compliance work. Prior to GST, businesses were expected to file their service tax and VAT statements on a quarterly or semi-annual basis. Now, sellers are expected to file a number of reports on a monthly basis online, which consumes a lot of time and makes running business operations more difficult, said Saahil Goel, CEO and Founder, Kraftly.

Changes in tax rates an issue: Since GST rates were changed frequently in the initial months, filings by businesses were lower than expected, said entrepreneurs. "The frequent changes in tax rates of some goods and services and the introduction of new rules every now and then added to the confusion," said Anupam Singhi, CEO, William O'Neil India.

There are some categories that are negatively impacted by GST implementation. "For instance, a 28 percent tax is applicable on financial leasing of a used vehicle, and I hope the government will reduce that rate over time," said Sandeep Aggarwal, founder and CEO of used-car marketplace Droom.

High rate of taxes: A very high GST of 18 percent is imposed on the services sector and it could discourage consumption in general, believe some. "Considering that a majority of our GDP contribution comes from the services sector, the tax rate should be lower," said Tejas Khoday, a member of the BSE Brokers' Forum.

Include all realty: A demand for lower GST on real estate under construction or inclusion of all real estate properties in GST is important for properties where land costs are significant and impact overall pricing of property, said Ankur Dhawan, Chief Investment Officer, PropTiger.com. When service tax was levied, there was a 70 percent abatement for land cost; whereas in GST, land abatement is only one-third of land value. This is a huge burden on apartment-buyers, said Ashok Mohanani, Chairman, Ekta World. Owing to the GST regime, the gross tax outflow on investing in a property has seen a steep rise of up to eight percent, said Manju Yagnik, Vice Chairperson, Nahar Group.

Incentives to traders: Traders have requested the finance ministry to review issues like filing of multi-returns; refunds from the department; awareness about the unified tax regime and its compliance.

"A comprehensive incentive scheme should be given to traders -- who use digital payment gateways to comply with tax obligations and also use those gateways in their day-to-day business -- in the form of a rebate in tax," said the Confederation of All India Traders (CAIT).

Merge or abolish stamp duty: Stamp duty continues to remain in force even after the implementation of GST and their rates vary across states, said Surendra Hiranandani, CMD, House of Hiranandani.

Central authority for advance rulings: The establishment of a central authority for advance rulings to regularly oversee and approve rulings made by state authorities needs to be strongly considered, said Archit Gupta, Founder and CEO, ClearTax.

Include additional taxes, levies in GST: If GST has to give an impetus to the real estate sector, additional taxes and levies should also be included within the 12 percent charged. That helps bring down the cumulative amount payable by a home buyer, said Rajeev Jain, Director, Nirmal Lifestyle.

GST 2.0 may be reality by 2019, with changes in tax rates, clarity on cess

The GST Council is also grappling with the issue of imposing a sugar cess at the rate of Rs 3 per kg to address the plight of farmers

Goods and services tax (GST), which is turning one on Sunday, is likely to usher in significant reforms by 2019, experts and consultants believe. The changes could be in terms of tax rates, expansion of ambit, system of advance rulings, clarity on cess and procedural issues.

But, some tweaking is possible much sooner. For instance, minor rate cuts in the range of 1-2 percentage points may be announced to incentivise digitalisation, anti-profiteering authority is likely to start imposing fine on companies and the refunds process is expected to be more streamlined.

Japan overtakes China, US in investing in Indian start-ups

Even as much of the attention last year was around the massive investments flowing into Indian start-ups from China, Japan was silently establishing its pole position in the ecosystem in 2017.

According to data collated by research and analytics platform Tracxn, Japan led venture capital investments in India surpassing both China and the US in 2017.

At $4.9 billion, Japan’s investments in 2017 increased about 13 times from a mere $387 million the previous year.

Investments from the US and China were at $4.6 billion and $3.5 billion, respectively, last year compared to $3.2 billion and $662 million in 2016, respectively. However, American investors pumped in money in more number of rounds compared to their Japanese and Chinese counterparts.

Tracxn data also showed that against five venture capital firms for China and the US, about a dozen Japanese investors showed interest in the emerging outfits of the world’s fastest growing economy.

New avenues

Masayoshi Son’s SoftBank led the Japanese pack with investments in start-ups such as Flipkart, Paytm, Grofers, Ola, Oyo, Policybazaar and PropTiger. Other Japanese investors included Beenos, Digital Garage, Gree Ventures, Dream Incubator, Rebright Ventures, and Asuka Corporation. Industry experts say that with the Japanese economy growing at a mere one per cent and bank deposits yielding negative returns, it’s important for investors to find investment avenues outside the country.

“India is a large economy growing at over 7 per cent and offers a lot of possibilities for Japanese investors. Culturally and geo-politically, Japan has strong ties with India. We can expect more Japanese funds deploy risk capital in Indian start-ups,” said Pallav Pandey, a serial investor/entrepreneur and founder of Fastfox.com.

He said typical cheque sizes would be smaller (sub-$1 million) and can come as co-investment with someone who can lead the round.

Pandey also said the approach and strategy of Japanese investors are different from Chinese. Japanese make small, early-stage investments just on merits regardless of whether a similar model has played out or not in Japan. However, for Chinese investors look at companies that have followed successful Chinese models.

Different strategy

“There are plenty of early-stage investment opportunities in China. So we are not seeing early- stage risk capital being deployed in India. Instead, it is larger, bigger, surer bets being taken in India by Chinese investors on opportunities that have played out in China,” Pandey said.

Sandeep Aggarwal, Founder, and CEO, droom.in, which has eight Japanese investors, said: “Japanese investors are detail-oriented; for them chemistry with the founder is very important.. I have equal exposure with Chinese investors and they are also equally amazing, but have a different style.”

Several start-up evangelists are hopeful that Japan will continue to surpass China in 2019 too. There are reports of a large fund being set up by Mistletoe, founded by Masayoshi Son’s brother, Tazo Son.

Also the 80-year-old car-maker Toyota, through its investment arm, has already invested $30 million in the automobile marketplace Droom along with other existing investors. Another mid-size fund, Incubate, is also looking to enter the Indian market.

Droom ramps up marketing budget to Rs 400 crore for FY19

NEW DELHI: Online automobile marketplace Droom today said it has increased its marketing budget by over 75 per cent to Rs 400 crore for the fiscal ended March 2019.

The company, which spent Rs 225 crore in the previous financial year, plans to further strengthen its ongoing efforts to reach out to consumers and "disrupt the pre-owned automobile market" with the amplified monetary allocation, Droom said in a statement.

Of the total marketing budget, Droom has allocated Rs 150 crore for digital media marketing and Rs 150 crore for various marketing activities along with Rs 50 crore towards CSR-related campaigns.

Another Rs 50 crore is earmarked for deals and promotions for customer engagement and experience initiatives, the statement said.

In May, Droom had announced raising $30 million in series D funding from Toyota Tsusho Corporation (TTC) and Tokyo-based incubator Digital Garage. Its other ..

"We have increased our marketing spend this year to further give a boost to our current online business. We are also looking to enhance our presence in tier II and III cities to attract more online automobile shoppers," he added.

Aggarwal said the company aims to double its annualised sales and gross merchandise value (GMV) from about Rs 4,000 crore to Rs 8,000 crore by December 2018 and Rs 18,000 crore by 2019.

GMV is a term used in online retailing to indicate the gross merchandise value of the products sold through the marketplace over a certain period of time.

"By increasing our marketing budget, we believe the company can achieve its net revenue target of Rs 275 crore for 2018, expand its reach and ..

Droom: In top gear mode

When one talks of pre-owned automobile marketplaces online, questions of quality and credibility are always a concern. Despite this, several portals are seeing traction in the space such as Droom, CarDekho or CarTrade.

When one talks of pre-owned automobile marketplaces online, questions of quality and credibility are always a concern. Despite this, several portals are seeing traction in the space such as Droom, CarDekho or CarTrade. And to fuel its growth as well as propel its marketing agenda, Droom has earmarked Rs 400 crore for marketing for the next 12 months — a 77% increase over the previous year’s marketing spend of Rs 225 crore. Out of this budget, Droom plans to spend Rs 150 crore on digital marketing, of which two-thirds will be performance-based and Rs 50 crore will be spent on branding, such as on YouTube and Facebook videos. The share of television will be Rs 100 crore, with another Rs 50 crore allocated for print, outdoor and activation.

In addition, Rs 50 crore each has been assigned for promotions and CSR. A total of four television campaigns are in the pipeline for the next 12 months. Its first campaign, starting this week, focusses on the auto portal’s orange book value offering — a pricing tool — and is scheduled to run for two months across 37 television channels, pan India. “We will be running three more campaigns. The idea is to make Droom a ‘household name’,” says Sandeep Aggarwal, founder and CEO, Droom. “The next campaign will be launched in August to position Droom as a partner in the entire lifecycle management of the vehicle. This will be followed by another burst around Diwali on auto financing for Droom Credit,” he informs.

This year, the focus is more on Hindi channels with the portal seeing increased traffic from tier II cities and beyond. The share of Hindi channels will be 65%, while the share of non HD channels will be 80%. Droom will also have an integrated approach towards TV and online for the first time, with parallel video ads running on digital along with TV for brand creation. “Earlier there was a bias towards English channels, with a focus on the top 15 cities. But now, we have increased the exposure to Hindi channels with an eye on the top 40 cities,” observes Aggarwal. It is currently present in 510 cities. Droom sees 32 million monthly visitors on its website and app, and sells close to 75,000 cars and one lakh two wheelers per annum. “By increasing our marketing budget, we believe Droom can achieve its net revenue target of `275 crore for 2018 by expanding its reach,” Aggarwal sums up.

Forbes India | Droom in news
Forbes India | Droom in news Forbes India | Droom in news Forbes India | Droom in news
the-hindu
The Hindu | Droom in news
the-econimic-times
The Economic Times | Droom in news
Droom.in partners with Toyota

Automobile marketplace Droom.in partners with Toyota Tsusho Corporation, a member Toyota Group, and Digital Garage of Japan, to enter South East Asian market. The company will leverage Toyota's dealership network, inventory and leadership for their international expansion. The countries are Indonesia, Thailand, Singapore, Malaysia, Myanmar, Cambodia and Vietnam.

Droom.in will be operational in Indonesia and Thailand or Malaysia by the fourth quarter. Sandeep Aggarwal, founder & CEO, said by mid 2019 they will be operational in five countries. Major challenge, Aggarwal, said is in offering localised services like choice of language and right Human Resources.

Fund raising

The online marketplace has raised around $30 million (Rs 200 crore) in Series D from Toyota Tsusho Corporation.

Besides, investors such as Ellison Investments, an Asia-based investment manager, as well as many existing investors and a number of prominent institutional investors and family offices from China, Hong Kong and SE Asia participated in this round. With this round, the Droom's total funding, since its inception in 2014, stands at $93 million (Rs 623 crore approximately).

The newly raised funds will be used to further strengthen Droom’s domination in the online automobile marketplace segment in India, where it currently owns nearly 70% market share, as well as to make its ecosystem service tools more scalable and to expand its international presence, the company said in a statement. Part of the funds would be used to invest in further developing its Machine learning and AI capabilities.

Droom gets $30 million funding jointly led by Toyota Tsusho, Digital Garage

Toyota Tsusho’s investment also includes a memorandum of understanding with online automobile store Droom, to facilitate the platform’s expansion in various South East Asia markets

Droom, an online automobile store, on Thursday announced a $30 million Series-D investment jointly led by Toyota Tsusho Corporation, a unit of Japan’s automobile major Toyota Group, and existing investor Digital Garage.

Tokyo-headquartered Toyota Tsusho Corporation is engaged in trading automobile raw materials, along with their manufacturing, logistics and sales.

The firm’s investment also includes a memorandum of understanding with Droom, to facilitate the platform’s expansion in various South East Asia markets, Droom said.

Ellison Investments, an Asia-based investment manager, and several existing backers of Droom participated in the latest fund-raise. Droom raised Series-C investment of Rs2 crore from Hong Kong-based Integrated Asset Management Asia Ltd last year in July.

Droom is also backed by Lightbox, Beenext, Beenos and several independent investors from China and Hong Kong, and has so far raised over $20 million.

“We and Droom are sharing the same vision, which is bringing trust and transparency to the transactions of automobiles. We believe that this partnership contributes the establishment of highly transparent transaction of automotive the wholesome development of auto market of any developing countries, by combining Droom’s technologically advanced platform and our various automotive business experience of all over the world,” said a statement by Toyota Tsusho Corporation quoted in Droom’s press release.

Droom was launched in 2014 by Sandeep Aggarwal, a co-founder of e-commerce firm ShopClues. The firm is registered in Singapore as Droom Pte Ltd.

Droom’s platform serves as an online marketplace to buy and sell cars and two-wheelers. Over the past few years, it has branched into allied services like fair value calculator, roadside assistance and auto loans in a bid to increase revenue.

The company said it will use the proceeds from latest round towards initiatives to grow its market share in India, technology expansion and launch in international markets.

“The newly raised funds will be used to further strengthen Droom’s domination in the online automobiles marketplace segment in India, where it currently owns nearly 70% market share, as well as to make its ecosystem service tools more scalable and to expand its international presence,” the company said.

Droom raises USD 30 mn funding led by Toyota Tsusho Corporation

Online automobile marketplace Droom today said it has raised USD 30 million (around Rs 2,032 crore), led by Toyota Tsusho Corporation and Digital Garage of Japan.

Toyota Tsusho Corporation is a part of Japanese auto maker Toyota Group.

The series D round also saw participation from Ellison Investments, an Asia-based investment manager, as well as many existing investors and institutional investors and family offices from China, Hong Kong and South East Asia, Droom founder and CEO Sandeep Aggarwal told reporters here.

He added that with this round, the company has raised about USD 95 million (around Rs 6,437 crore) till date.

"The funds will be used to further strengthen our operations in India as well as expand to South East Asian markets like Indonesia, Thailand, Malaysia and Vietnam among others," he added.

Besides the funding, Droom also inked an agreement with Toyota Tsusho Corporation that will help it expand internationally.

The company will invest USD 8-10 million towards international expansion, he said, adding that its India business would continue to account for over 90 per cent of its revenues for the next two years.

"The Indian market continues to hold great potential. As per estimates, the auto market (including vehicle sales and after-sales services like servicing and insurance) is expected to be about USD 350 billion in size by 2022 with 6-8 per cent being online," he said.

Asked if the company was looking at an IPO, Aggarwal said it is on the company's radar.

"We will look at listing when we get to a net revenue of about USD 100-110 million. While we have a net revenue of about USD 16.5 million, we are expecting strong growth and with international expansion on the cards, we see us going for the IPO by end of 2019," he said.

He said the company is generating close to USD 700 million in gross revenue with the listed gross merchandise value (GMV) of USD 3.5 billion on its platform.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

In July last year, Droom had raised USD 20 million (around Rs 130 crore) in Series C funding led by Integrated Asset Management and Digital Garage. That round had seen participation from Lightbox, Beenos and Beenext.

Prior to that, it had raised a seed funding of USD 1.5 million and USD 4 million in May and October 2014, respectively, followed by Series A round of Rs 100 crore in June 2015.

Droom raises $30 M in Series-D round led by Toyota Tsusho Corporation, Digital Garage

Droom, the transactional platform for automobiles, has announced that the company has raised its Series-D funding round of $30 million, led by Toyota Tsusho Corporation, member of the Toyota Group, and co-led by Digital Garage of Japan. They are joined by Ellison Investments, an Asia-based investment manager, and many existing investors and a number of prominent institutional investors and family offices from China, Hong Kong and Southeast Asia.

In a press statement, Sandeep Aggarwal, Founder and CEO of Droom, said that Droom has changed how automobiles are bought and sold online by creating robust tech and AI-based services and tools fit for the 21st century. He added,

These tools focus on elements such as trust, transparency, pricing, and convenience. This partnership will play a major role in Droom’s journey ahead by helping us realise our growth potential, both in India and internationally. We are fortunate to have the support of Lightbox, Beenext and Beenos for believing in us very early on and supporting us relentlessly the last four years. On the backdrop of Droom’s upcoming international expansion, we are excited to partner with Ellison Investments for helping us expand our investor base in Asia.

As part of the deal, Toyota Tsusho Corporation signed an MOU with Droom for international expansion. The newly raised funds will be used to further strengthen Droom’s strength in the online automobiles marketplace segment in India, where it claims to be owning nearly a 70-percent market share. The fresh funding will be used to make its service tools more scalable and to expand its international presence. The tech-led platform will also invest heavily in further developing its machine learning and AI capabilities.

Through the latest funding and the ongoing support of investors, Droom aims to cement its position as India’s foremost online automobile marketplace. In the past three years, Droom has reportedly generated close to $700 million in gross revenue and $15 million in net revenue with a GMV of $3.5 billion. The company claims to be catering to over 250,000 auto dealers in more than 500 cities across India and 27.3 million monthly visitors online, with 7.4 million app downloads and 5.5 million via Facebook reach.

The company aims to double its gross merchandise value to $1.4 billion by end of 2018 and $3.5 billion by 2019, and also plans to go for an IPO by end of 2019.

A spokesperson from Toyota Tsusho Corporation said,

We were impressed that Droom has rapidly established its position as the largest online marketplace to buy and sell automobiles in India. We and Droom are sharing the same vision, which is bringing trust and transparency to the transactions of automobiles. We believe that this partnership contributes the establishment of highly transparent transaction of automotive the wholesome development of auto market of any developing countries, by combining Droom’s technologically advanced platform and our various automotive business experience of all over the world.

Droom is a Singapore-holding company with its subsidiary in India and the US. It has raised close to $95 million so far in six rounds of funding. Some of the prominent investors include Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation and Integrated Assets Management. Droom is headquartered in Gurugram, India with a team size of more than 300.

Vehicle marketplace Droom raises funds from Toyota, Digital Garage; eyes IPO

Droom, an online marketplace for new and used cars, said it has raised $30 million (Rs 204 crore) in a Series D round led by Toyota Tsusho Corporation and existing investor Digital Garage (of Japan).

The platform, which has 250,000 retailers across 500 cities in the country and a subsidiary in the US, also said it plans to launch an initial public offering (IPO) next year.

Ellison Investments, existing investors as well as several institutional investors and family offices from China, Hong Kong and South East Asia had also participated in the round, said Gurugram-based Droom Technology Pvt. Ltd, owner of the online platform. Since its launch in April 2014, Droom has raised more than $90 million in external funding.

Droom, which claims to have 27.3 million monthly visitors, said the fresh funds will be used to boost its market share, which it claims stands at 70%. Moreover, the platform aims to double its gross merchandise value to $1.4 billion by the end of 2018 and to $3.5 billion by 2019-end.

In the online used-automobiles space, Droom competes with Truebil, Zoomo, CarDekho (which had acquired Gaadi.com), Carwale and CarTrade. People-to-people platforms, such as OLX and Quikr, too, share the same space.

With the funding, Droom said it would develop artificial intelligence (AI) and machine learning (ML) capabilities of its marketplace platform.

“We were heavily invested in data science but now we have decided to take it to the next step by incorporating AI into the platform. We are looking at AI from multiple use cases so that we can reform the customer (buyer and seller) experience on the platform,” Sandeep Aggarwal, founder and CEO of Droom, told TechCircle.

Further explaining the use of AI and ML, he said that the company was planning to use them for key aspects such as vehicle markups, selling intelligence, creating better credit risk engines and operational expertise in running promotional campaigns. Markup is an increase in the price of something based on the difference between the cost of producing it and the price it is sold at.

“We offer discounts from time to time but with AI infusion, the machine can automate the entire process by deciding whom to give the discount and how much percentage or under what conditions it should be offered,” Aggarwal said, adding that the company was planning to gain more business intelligence on credit risk profiles using the new technology.

“AI would ideally let the machine also control inventory decisions, depending on historical data of the car make and model. All of this will help streamline operations, bring down the cost of customer acquisition and provide better experiences,” he explained.

Aggarwal also said that to infuse AI the company will need to hire more employees. “Out of our 300-plus employees, more than half are engineers or product-oriented people. Having said that, we have decided to increase our headcount by another 110 members, of which at least 60% will be engineers,” he said, adding that his company was using Amazon Web Services and Netmagic for cloud computing solutions.

Droom has also signed a memorandum of understanding with Toyota Tsusho Corporation to expand internationally in South East Asia. Aggarwal said that the firm was looking to foray into nine countries: Indonesia, Vietnam, Malaysia, Thailand, Singapore, Cambodia, Myanmar, Laos and the Philippines.

The company, according to the founder, has already hired a new international expansion team from India, which is expected to go to these markets and set up a new subsidiary there. “The team also has interns who will help with the international expansion, after which the firm will hire some local talent to support operations for the platform. But we will remain headquartered in Gurugram, where we will continue to build our brand and platform,” Aggarwal said.

Droom’s funding

Droom had received $20 million last July in a Series C round led by Integrated Asset Management (Asia) Ltd and Digital Garage.

In July 2016, it had raised an undisclosed amount in a Series B round from venture capital fund Beenext, Digital Garage, Lightbox, Beenos, and others.

Automobile Marketplace Droom Raises $30 Mn In Series D Funding

Droom Now Aims To Expand Its Presence In The International Markets And To Go For An IPO By 2019

Sandeep Aggarwal-led Automobile marketplace Droom has raised $30 Mn in Series D round of funding led by Toyota Tsusho Corporation (TTC), a Toyota Group Corporation company and Japan-based Digital Garage. Four more new investors from family offices of Hong Kong, Southeast Asia, also participated in this funding round.

The startup plans to use the funding to further strengthen its position, make its ecosystem tools more scalable and advance its international expansion plans. Droom will also invest heavily in further developing its Machine Learning and Artificial Intelligence capabilities.

Commenting on the investment, Sandeep Aggarwal, Founder and CEO of Droom said, “This partnership will play a major role as we realise our growth potential, both in India and internationally.”

With this deal, Droom has signed a Memorandum of Understanding (MoU) with TTC to expand internationally beginning with the southeast Asian market, leveraging Toyota’s inventory for expansion.

On the development, Toyota Tsusho Corporation (TTC) said, “We and Droom are sharing the same vision, which is bringing trust and transparency to the transactions of automobiles. We believe that this partnership contributes the establishment of the highly transparent transaction of automotive the wholesome development of the auto market of any developing countries, by combing Droom’s technology advanced platform and our various automotive business experience of all over the world.”

The total funding for Droom now nears $95 Mn since its inception. It is now also planning to go for an IPO by 2019.

Earlier, the company raised $20 Mn in July 2017 and prior to that, undisclosed (reported to be around $30 Mn) Series B funding in June 2016.

Droom: Reorganising Automobile Marketplace

Founded in April 2014 by Sandeep Aggarwal and Rishab Malik, Droom enables customers to buy and sell new and old automobiles and follows all four business models i.e. B2B, B2C, C2C, C2B.

It offers a wide range of categories from bicycle to planes. Additionally, it provides other automobile services such as warranty, RSA, insurance and auto loan. Droom uses advanced technologies like de-facto pricing standard, full circle trust score, among others.

Headquartered in Gurugram, the company claims to have a market share of 65% in the automobile marketplace category. Recently, the company also expanded its portfolio in electric vehicles.

Earlier, Sandeep had revealed that the company is planning for expansion in Southeast Asia and is also looking to get registered on NASDAQ by 2019.

The company claims to record nearly $700 Mn in gross revenue and $15 Mn in net revenue with the listed GMV of $3.5 Bn. It has recorded nearly 250k auto dealers in more than 500 cities across India on its platform with 27.3 Mn monthly visitors.

The company aims to double its gross merchandise value to $1.4 Bn by end of 2018 and $3.5 Bn by 2019.

It helps automobile dealers to increase their consumer base and provides them with vehicle checks using its advanced data science algorithms. It charges an annual subscription to dealers and is also looking to earn revenue by introducing automobile credit, which will be provided to the consumers.

The startup is also planning to monetise its Orange Book Value feature, which gives the fair price of bikes and cars in the country. Other features like auto inspection will also be rolled out for dealers.

The other services include History, with about 200 Mn vehicle history records, Discovery (dozens of pre-buying tools), and Credit (a marketplace for used vehicles loans).

Before the listing on the stock exchange for IPO by mid-2019, the company had targeted a GMV of about $2.5 Bn and a net revenue of about $55 Mn (INR 350 Cr).

In the automobile segment, Droom competes with the likes of Cartisan, Bumper, Pitstop, among others.

According to an IBEF report, the Indian auto industry, one of the largest in the world, accounts for 7.1% of the country’s GDP.

The report has pegged Indian automobile market at $125 Bn. Out of which, $100 Bn is the estimated share of automobile sales and remaining $25 Bn includes services. It is expected to grow at a rate of about 10% to a whopping $225 Bn by 2020.

Also, India is a prominent auto exporter and has strong export growth expectations for the near future. Further, several initiatives by the Government of India including ‘Make in India’ and the major automobile players in the Indian market are expected to make India a leader in the two Wheeler and Four Wheeler market in the world by 2020.

With huge growth potential in the growing vehicular segment, the latest push of funding for Droom is bound to escalate company’s portfolio of products and services.

Droom Raises $30M in Series D Led by Toyota Tsusho Corporation

Toyota Tsusho Corporation (member Toyota Group) led the round and signs an MOU with Droom for International Expansion

Droom, Gurugram-based transactional platform for automobile, has recently raised $30 million in Series D, led by Toyota Tsusho Corporation (member Toyota Group) and co-led by Digital Garage of Japan. They are joined by Ellison Investments, an Asia-based investment manager, as well as many existing investors and a number of prominent institutional investors and family offices from China, Hong Kong and SE Asia.

The newly raised funds will be used to further strengthen Droom’s domination in the online automobiles marketplace segment in India, where it currently owns nearly 70% market share, as well as to make its ecosystem service tools more scalable and to expand its international presence. The tech-led platform will also invest heavily in further developing its Machine learning and AI capabilities and build 100x larger scale.

Droom also signed an MOU with Toyota Tsusho Corporation to expand internationally in SE Asia, reinforcing its global attractiveness in the markets that are characterized by trust deficit, high cost of capita, highly fragmented seller base, and loose rules & regulations.

In the past three years, it has acquired 70% of the online automobile market share in India, generating close to $700 million in gross revenue and $15 million in net revenue with the listed GMV of $3.5 bn. Droom has also proved its position as largest online automobile marketplace in India with close to 250k auto dealers in more than 500 cities across India on its platform and 27.3 million monthly visitors. The company aims to double its gross merchandise value to $1.4 bn by end of 2018 and $3.5 bn by 2019. The company plans to go for an IPO by end of 2019.

Speaking on the development, Sandeep Aggarwal, Founder & CEO, Droom, said, “Droom has seen tremendous growth over the past three and half years in terms of adoption by buyers/sellers, number of categories and listings, geographical presence, and GMV/transactions. It has irrevocably changed how automobiles are bought and sold online by creating robust tech and AI bases Ecosystem services tools fit for the 21st century. These tools focus on elements such as trust, transparency, pricing, and convenience. We are delighted to have a major investor like Toyota Tsusho Corporation backing us in this round. This partnership will play a major role in Droom’s journey ahead by helping us realise our growth potential, both in India and internationally. We are fortunate to have long standing support of Lightbox, Beenext and Beenos for believing in us very early on and supporting us relentlessly last 4 years. On the backdrop of Droom’s upcoming international expansion, we are excited to partner with Ellison Investments for helping us expand our investors base in Asia.”

Toyota Tsusho Corporation, said, “We were impressed that Droom has rapidly established its leadership position as the largest online marketplace to buy and sell automobiles in India. Sandeep is an exceptional and visionary founder and Droom also has solid management team. We and Droom are sharing the same vision, which is bringing trust and transparency to the transactions of automobiles. We believe that this partnership contributes the establishment of highly transparent transaction of automotive the wholesome development of auto market of any developing countries, by combining Droom’s technologically advanced platform and our various automotive business experience of all over the world.

Including this latest round, Droom has raised a total funding of $93 million since its inception. The company raised $20 million Series C funding in July 2017, $25 million Series B funding in June 2016, $16 million Series A funding in July 2015 and $2 million in Seed round in June 2014.

In the automobile sector, Droom competes with the likes of Pitstop & Cartisan among others.

In April 2018, Pitstop raised $1.6 million in a Pre-Series A funding round from its existing investors Blume Ventures and Singapore-based Goldbell Group and in March, it also acquired Noida-based startup MotorWhiz, which offers mobile solutions for car services and repair jobs, in a part cash-part stock deal. Bengaluru-based Cartisan is also seed-funded by cricketer Yuvraj Singh through the YouWeCan ventures.

SAIF Partners backed car servicing platform Bumper has shut down its operations recently as it could not raise enough capital and there was not enough traction from users, according to a TechCircle report.

Droom raises $30 million in Series D round funding

The company also signed an MoU with Toyota Tsusho Corporation for expansion in South East Asia

Droom, an automobile marketplace, has raised USD 30 million in Series D, led by Toyota Tsusho Corporation and co-led by Digital Garage of Japan.

The funds will be used to further strengthen Droom's domination in the online automobile marketplace segment in India. It will also invest in further developing its Machine Learning and AI capabilities.

The company also signed an MoU with Toyota Tsusho Corporation for expansion in South East Asia.

It claims to acquire 70 percent of the online automobile market share in India, generating close to USD 700 million in gross revenue and USD 15 million in net revenue with the listed GMV of USD 3.5 billion in past three years.

The company aims to double its gross merchandise value to USD 1.4 billion by end of 2018 and USD 3.5 billion by 2019. The company plans to go for an IPO by end of 2019.

"We are targeting emerging international market and selected nine countries which at least have 25 million internet users," said Sandeep Aggarwal, founder and CEO, Droom.

Automobile marketplace Droom raises $30m for Southeast Asia expansion

Online automobile marketplace Droom has raised $30 million in its Series D round of funding led by Japanese firms Toyota Tsusho Corporation and Digital Garage

The round also saw participation from Ellison Investments, an Asia-based investment manager, existing investors and a number of institutional investors and family offices from China, Hong Kong and Southeast Asia, according to an official statement.

Founded in April 2014 by former Shopclues founder Sandeep Aggarwal, Droom is a marketplace for new and used automobiles and services and competes with the likes of CarTrade and CarDekho.

Proceeds from the latest funding round will be used to strengthen its domestic operations as well as to facilitate its long pending plans to expand internationally. The tech-led platform will also invest heavily in further developing its machine learning and AI capabilities, per a company statement.

Droom also signed an MoU with Toyota Tsusho Corporation to expand internationally in Southeast Asia. In an interaction with DEALSTREETASIA last year, Aggarwal had said that as part of its international foray, Droom plans to first launch operations in Indonesia, Malaysia, the Philippines, Thailand and Singapore.

The latest funding round comes less than a year after the Gurgaon-based firm raised a $20-million Series C round led by Integrated Asset Management and existing investor Digital Garage. That round also had also seen the participation of a number of Asian institutional investors and family offices, along with existing investors Lightbox, Beenext and e-commerce operator Beenos.

With this latest round, the company’s total funding stands at around $95 million so far.

The company claims to generate close to $700 million in gross revenue and $15 million in net revenue with close to 250,000 auto dealers in more than 500 cities across India on its platform and 27.3 million monthly visitors.

It aims to double its gross merchandise value to $1.4 billion by end of 2018 and $3.5 billion by 2019. Droom plans to go public by the end of next year.

“On the backdrop of Droom’s upcoming international expansion, we are excited to partner with Ellison Investments for helping us expand our investor base in Asia,” said Aggarwal.

He further said the partnership with Toyota Tsusho will play a major role in realising Droom’s growth potential, both in India and internationally.

Droom raises $30 mn funding led by Toyota Tsusho Corporation

Toyota Tsusho Corporation is a part of Japanese auto maker Toyota Group.

Online automobile marketplace Droom on Thursday said it has raised USD 30 million (around Rs 2,032 crore), led by Toyota Tsusho Corporation and Digital Garage of Japan.

Toyota Tsusho Corporation is a part of Japanese auto maker Toyota Group.

The series D round also saw participation from Ellison Investments, an Asia-based investment manager, as well as many existing investors and institutional investors and family offices from China, Hong Kong and South East Asia, Droom founder and CEO Sandeep Aggarwal told reporters here.

He added that with this round, the company has raised about USD 95 million (around Rs 6,437 crore) till date.

"The funds will be used to further strengthen our operations in India as well as expand to South East Asian markets like Indonesia, Thailand, Malaysia and Vietnam among others," he added.

Besides the funding, Droom also inked an agreement with Toyota Tsusho Corporation that will help it expand internationally.

The company will invest USD 8-10 million towards international expansion, he said, adding that its India business would continue to account for over 90 percent of its revenues for the next two years.

"The Indian market continues to hold great potential. As per estimates, the auto market (including vehicle sales and after-sales services like servicing and insurance) is expected to be about USD 350 billion in size by 2022 with 6-8 percent being online," he said.

Asked if the company was looking at an IPO, Aggarwal said it is on the company's radar.

"We will look at listing when we get to a net revenue of about USD 100-110 million. While we have a net revenue of about USD 16.5 million, we are expecting strong growth and with international expansion on the cards, we see us going for the IPO by end of 2019," he said.

He said the company is generating close to USD 700 million in gross revenue with the listed gross merchandise value (GMV) of USD 3.5 billion on its platform.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

In July last year, Droom had raised USD 20 million (around Rs 130 crore) in Series C funding led by Integrated Asset Management and Digital Garage. That round had seen participation from Lightbox, Beenos and Beenext.

Prior to that, it had raised a seed funding of USD 1.5 million and USD 4 million in May and October 2014, respectively, followed by Series A round of Rs 100 crore in June 2015.

Droom raises $30 million from Toyota, Digital Garage, others

Online automobile marketplace Droom today said it has raised USD 30 million in Series D funding round, led by Toyota Tsusho Corporation, a Toyota Group firm, and Japan-based Digital Garage.

The funding round also saw participation from Asia-based investment manager Ellison Investments, along with many existing investors and prominent institutional investors and family offices from China, Hong Kong and Southeast Asia, according to a company release.

"The funds will be used to further strengthen Droom's domination in the online automobile marketplace segment in India, as well as to make its ecosystem service tools more scalable and to expand its international presence," it said.

The technology-led platform also plans to invest heavily in developing its machine learning and artificial intelligence (AI) capabilities.

The company said it plans to go for an initial public offering (IPO) by the end of 2019.

Meanwhile, Droom also signed a memorandum of understanding (MoU) with Toyota Tsusho Corporation to expand international presence in Southeast Asia.

In the past three years, the company claims it has acquired 70 per cent of the domestic online automobile market share, generating close to USD 700 million in gross revenue and USD 15 million in net revenue, with the listed gross merchandise value (GMV) of USD 3.5 billion.

It has close to 2.5 lakh auto dealers on its platform and 27.3 million monthly visitors.

"Droom has seen tremendous growth over the past three and half years in terms of adoption by buyers and sellers, number of categories and listings, geographical presence, and transactions. It has changed how automobiles are bought and sold online by creating robust tech and AI bases ecosystem services tools," said Sandeep Aggarwal, founder and chief executive officer, Droom.

The company had raised USD 20 million from Integrated Asset Management and Digital Garage last July. Since its launch in 2014, it has raised more than USD 90 million in external funding.

Droom raises USD 30 mn funding led by Toyota Tsusho Corporation

Online automobile marketplace Droom today said it has raised USD 30 million (around Rs 2,032 crore), led by Toyota Tsusho Corporation and Digital Garage of Japan.

Toyota Tsusho Corporation is a part of Japanese auto maker Toyota Group.

The series D round also saw participation from Ellison Investments, an Asia-based investment manager, as well as many existing investors and institutional investors and family offices from China, Hong Kong and South East Asia, Droom founder and CEO Sandeep Aggarwal told reporters here.

He added that with this round, the company has raised about USD 95 million (around Rs 6,437 crore) till date.

"The funds will be used to further strengthen our operations in India as well as expand to South East Asian markets like Indonesia, Thailand, Malaysia and Vietnam among others," he added.

Besides the funding, Droom also inked an agreement with Toyota Tsusho Corporation that will help it expand internationally.

The company will invest USD 8-10 million towards international expansion, he said, adding that its India business would continue to account for over 90 per cent of its revenues for the next two years.

"The Indian market continues to hold great potential. As per estimates, the auto market (including vehicle sales and after-sales services like servicing and insurance) is expected to be about USD 350 billion in size by 2022 with 6-8 per cent being online," he said.

Asked if the company was looking at an IPO, Aggarwal said it is on the companys radar.

"We will look at listing when we get to a net revenue of about USD 100-110 million. While we have a net revenue of about USD 16.5 million, we are expecting strong growth and with international expansion on the cards, we see us going for the IPO by end of 2019," he said.

He said the company is generating close to USD 700 million in gross revenue with the listed gross merchandise value (GMV) of USD 3.5 billion on its platform.

Founded in April 2014 in Silicon Valley, Droom is an online marketplace to buy and sell new and used automobiles and related services.

In July last year, Droom had raised USD 20 million (around Rs 130 crore) in Series C funding led by Integrated Asset Management and Digital Garage. That round had seen participation from Lightbox, Beenos and Beenext.

Prior to that, it had raised a seed funding of USD 1.5 million and USD 4 million in May and October 2014, respectively, followed by Series A round of Rs 100 crore in June 2015. PTI SR MR MR

MINT
Mint | Droom in news
hindustan times
Hindustan Times | Droom in news
financial-Express
Financial Express | Droom in news
financial-chronicle
Financial Chronicle | Droom in news
dna
DNAIndia | Droom in news
business-standard
Magazines 4P's | Droom in news
The Times of India
The Times of India | Droom in news
Droom raises $30 million from Toyota, Digital Garage, others

NEW DELHI/MUMBAI: The world's largest automaker Toyota is all set to drive into India having led a $30 million (about Rs 203 crore) equity financing round in online marketplace for used automobiles and auto services Droom. The investment which has been made from Toyota’s subsidiary Toyota Tsusho Corp was also co-led by Japanese incubator and venture capital investor Digital Garage.

This is the Fortune 500 company’s first investment in the Indian startup and internet business ecosystem.

The Series D round also saw participation from Asia-based investment manager Ellison Investments as also existing investors along with several institutional investors and family offices from China, Hong Kong and South East Asia.

The Singapore and Gurgaon-based company has also signed a Memorandum of Understanding (MoU) with Toyota to expand its services overseas to markets such as Indonesia and Thailand.

Including the latest round of funding, Droom, which competes with the likes of Temasek and Warburg Pincus-backed CarTrade and Google Capital and Hillhouse Capital-backed CarDekho, has raised about $95 million in equity financing.

The capital will be used to hone the technology end of the platform and will see Droom invest heavily in further developing its machine learning and artificial intelligence capabilities to target a significant growth in scale.

“Droom has seen tremendous growth over the past three and half years in terms of adoption by buyers and sellers, number of categories and listings, geographical presence and GMV of transactions. This partnership (with Toyota) will play a major role for Droom as we realise our growth potential, both in India and internationally,” said Sandeep Aggarwal, Founder & CEO, Droom.

The company claims to generate about $700 million in gross revenue and $15 million in net revenue. The platform has about 250,000 auto dealers across over 500 cities in India.

"We were impressed that Droom has rapidly established its leadership position as the largest online marketplace to buy and sell automobiles in India. We believe that this partnership contributes to the establishment of highly transparent transaction of automotive and the wholesome development of auto market of any developing countries, by combining Droom’s technologically advanced platform and our various automotive business experience of all over the world," said a spokesperson for Toyota Tsusho Corporation.

The expansion will help Droom double its gross merchandise value to $1.4 billion by the end of 2018 and $3.5 billion by 2019. Droom is targetting a public listing through an IPO by the end of 2019.

Toyota, others invest $30 million in online auto marketplace Droom

Japanese auto giant, Toyota has made its first investment in an Indian startup by co-leading a $30 million funding round in online automobile marketplace Droom, along with Tokyo-based incubator Digital Garage. Ellison Investments as well as Southeast Asia-based family offices also invested in this round.

Droom was founded in 2010 by Sandeep Aggarwal, who also started e-commerce portal Shopclues. The Gurugram-based company, which helps users buy and sell new and used automobiles, says the funds will be used to strengthen its market share and invest heavily in machine learning and AI. With this latest funding, Droom will expand internationally in south east Asia through Toyota. It competes with the likes of CarDekho and CarTrade.

"Droom has seen tremendous growth over the past three and half years in terms of adoption by buyers and sellers, number of categories and listings, geographical presence, GMV and transactions. This partnership will play a major role in Droom’s journey ahead by helping us realise our growth potential, both in India and internationally," said Aggarwal, founder and CEO of Droom.

The company claims to have a 70% market share in the online automobile marketplace generating close to $700 million in gross revenue and $15 million in net revenue.

"We believe that this partnership contributes to the establishment of highly transparent transaction of automotive and the wholesome development of auto market of any developing countries, by combining Droom’s technologically advanced platform and our various automotive business experience of all over the world," Toyota Tsusho Corporation said in a prepared statement.

With a team size of over 300, Droom has raised close to $95 million in six rounds of funding from investors including Lightbox, Beenext, and Beenos.

Droom envisions Rs.275 Cr net revenue by Dec'18

Droom, an online automobile transactional marketplace is all set to double its annualised sales and gross merchandise value (GMV) from about Rs. 4,000 crores to Rs. 8,000 crores by the end of 2018.

The company also announced a target of Rs. 275 crore as net revenue for 2018 and Rs.700 crores for 2019.

Droom's gross revenue growth is primarily driven by its largest dealer-focused platform, growing C2C selling format, adoption of ecosystem services tools and its enterprise business including bulk buying and selling for ride sharing companies.

With four different revenue streams and ecosystem services tools, Droom will achieve its net revenue target, which includes core transactional platform of used and new vehicle transactions, premium subscription charges, advertising and selling of products and ecosystem services developed in-house, such as its highly popular algorithmic pricing engine Orange Book Value and auto inspection-verification service provider Eco.

Moreover, Droom's Ecosystem service tool Droom credit and its consumer-to-consumer sales will be major contributors to the increased revenue along with business-to-consumer transactions going forward.

Droom is planning an initial public offering (IPO) by the end of 2019 and profitability by the end of 2018.

"It's been more the 40 months for us being operational and we have marked a tremendous growth of 300 percent in last year with burn rate at under three percent gross revenue. This year, we will be more focused on deepening our presence in first 100 cities in India with our B2C dealers network, C2C selling format, Droom credit, QuickSell (C2B) and Droom Enterprise," said Droom founder and CEO, Sandeep Aggarwal.

India's domestic automobile sector has grown immensely to emerge as the third largest in the world, valued at about USD 125 billion, with an expected jump of USD 75 billion by 2020. Droom's vision is to create, promote and increase the share of the online segment in automobile transactions, which presently is at one percent of the overall figure.

Droom envisions Rs.275 Cr net revenue by Dec'18

Droom, an online automobile transactional marketplace is all set to double its annualised sales and gross merchandise value (GMV) from about Rs. 4,000 crores to Rs. 8,000 crores by the end of 2018.

The company also announced a target of Rs. 275 crore as net revenue for 2018 and Rs.700 crores for 2019.

Droom's gross revenue growth is primarily driven by its largest dealer-focused platform, growing C2C selling format, adoption of ecosystem services tools and its enterprise business including bulk buying and selling for ride sharing companies.

With four different revenue streams and ecosystem services tools, Droom will achieve its net revenue target, which includes core transactional platform of used and new vehicle transactions, premium subscription charges, advertising and selling of products and ecosystem services developed in-house, such as its highly popular algorithmic pricing engine Orange Book Value and auto inspection-verification service provider Eco.

Moreover, Droom's Ecosystem service tool Droom credit and its consumer-to-consumer sales will be major contributors to the increased revenue along with business-to-consumer transactions going forward.

Droom is planning an initial public offering (IPO) by the end of 2019 and profitability by the end of 2018.

"It's been more the 40 months for us being operational and we have marked a tremendous growth of 300 percent in last year with burn rate at under three percent gross revenue. This year, we will be more focused on deepening our presence in first 100 cities in India with our B2C dealers network, C2C selling format, Droom credit, QuickSell (C2B) and Droom Enterprise," said Droom founder and CEO, Sandeep Aggarwal.

India's domestic automobile sector has grown immensely to emerge as the third largest in the world, valued at about USD 125 billion, with an expected jump of USD 75 billion by 2020. Droom's vision is to create, promote and increase the share of the online segment in automobile transactions, which presently is at one percent of the overall figure. (ANI)

Droom planning IPO by end of 2019

Online automobile marketplace Droom is planning an initial public offering (IPO) by the end of 2019 and aiming at profitability by the end of 2018.

The company is aiming at doubling its annualised sales and gross merchandise value from about Rs 4,000 crore to Rs 8,000 crore by December 2018 and Rs 18,000 crore by 2019. The company has also announced goal for net revenue at Rs 275 crore for 2018 and Rs 700 crore for 2019.

The reason behind this optimism is the single digit burn rate of the company. Droom spends less than 4% of Gross Merchandise Value (GMV) on marketing and even less than 3% on operating cost of the company. So, the company has to just recover less than 3% to turn profitable. Unlike other e-commerce platforms, which burn around 12-15% on operating cost. Droom’s gross revenue growth is primarily driven by its largest dealer focused platform, growing C2C selling format, adoption of ecosystem services tools and its enterprise business including bulk buying and selling for ride sharing companies.

Droom’s four different revenue streams and its ecosystem services tools will help the company achieve its net revenue target. These include its core transactional platform of used and new vehicle transactions, premium subscription charges, advertising and selling of products and ecosystem services developed in-house, such as its algorithmic pricing engine Orange Book Value and auto inspection-verification service provider Eco.

Droom’s ecosystem service tool Droom Credit and its consumer-to-consumer sales will be major contributors to the increased revenue along with business-to-consumer transactions going forward. Commenting on the estimated growth figures, Sandeep Aggarwal, founder & CEO, Droom, said, “It’s been more the 40 months for us being operational and we have marked a growth of 300% in last year with burn rate at under 3.0% of gross revenue. This year we will be more focused on deepening our presence in first 100 cities in India with our B2C dealers’ network, C2C selling format, Droom credit, QuickSell (C2B) and Droom Enterprise. Furthermore, along with our ecosystem services generating revenue we are looking forward to a healthy contribution from the recently launched electric vehicle and commercial vehicle ‘Taxi’ categories.”

India’s domestic automobile sector has grown immensely to emerge as the third largest in the world, valued at about $125 billion, with an expected jump of $75 billion by 2020. Droom’s vision is to create, promote and increase the share of the online segment in automobile transactions, which presently is at 1% of the overall figure.

Get latest news & live updates on the go on your pc with News App. Download The Times of India news app for your device. Read more Business news in English and other languages.

Droom envisions Rs.275 Cr net revenue by Dec'18

Droom, an online automobile transactional marketplace is all set to double its annualised sales and gross merchandise value (GMV) from about Rs. 4,000 crores to Rs. 8,000 crores by the end of 2018.

The company also announced a target of Rs. 275 crore as net revenue for 2018 and Rs.700 crores for 2019.

Droom's gross revenue growth is primarily driven by its largest dealer-focused platform, growing C2C selling format, adoption of ecosystem services tools and its enterprise business including bulk buying and selling for ride sharing companies.

With four different revenue streams and ecosystem services tools, Droom will achieve its net revenue target, which includes core transactional platform of used and new vehicle transactions, premium subscription charges, advertising and selling of products and ecosystem services developed in-house, such as its highly popular algorithmic pricing engine Orange Book Value and auto inspection-verification service provider Eco.

Moreover, Droom's Ecosystem service tool Droom credit and its consumer-to-consumer sales will be major contributors to the increased revenue along with business-to-consumer transactions going forward.

Droom is planning an initial public offering (IPO) by the end of 2019 and profitability by the end of 2018.

"It's been more the 40 months for us being operational and we have marked a tremendous growth of 300 percent in last year with burn rate at under three percent gross revenue. This year, we will be more focused on deepening our presence in first 100 cities in India with our B2C dealers network, C2C selling format, Droom credit, QuickSell (C2B) and Droom Enterprise," said Droom founder and CEO, Sandeep Aggarwal.

India's domestic automobile sector has grown immensely to emerge as the third largest in the world, valued at about USD 125 billion, with an expected jump of USD 75 billion by 2020. Droom's vision is to create, promote and increase the share of the online segment in automobile transactions, which presently is at one percent of the overall figure.

Now there is a marketplace to buy and sell pre-owned taxis in India

These pre-owned taxis will be available at a starting price range of Rs. 1,00,000, and upwards

The central character of many journeys, stories and experiences, Indian taxis are one of the most familiar sights on urban roads.

With its latest category, 'Taxis', pioneering online automobile transactional marketplace, Droom, has ensured a new lease of life to these iconic vehicles by enabling buyers and sellers of used taxis to transact over the platform.

These pre-owned taxis will be available at a starting price range of Rs. 1,00,000, and upwards.

Sellers and buyers can easily obtain the fair prices of these vehicles with the help of Orange Book Value (OBV) and can also order the Droom ECO certified inspection report to get the better idea about the condition of the vehicle.

The used taxis can be bought and sold by buyers and sellers pan-India.

"Droom is the largest online automobile platform in India and we endeavor to add every possible automobile related category to provide the widest collection of vehicles as per buyer needs. We received a lot of queries from interested buyers for used taxis, hence we decided to include such vehicles in our list of offerings," said founder and CEO, Droom, Sandeep Aggarwal.

"Additionally, pre-owned taxis further diversifies our product type and adds a unique dimension to the burgeoning vehicle listings on our platform, thus enabling us to reach out to newer clients and markets," Aggarwal added.

Although Droom currently sells such taxis only to individual dealers and sellers through its B2C and C2C operations, it aims to tie up with large taxi aggregators and local taxi vendors in near future.

The online platform with its unique ecosystem services tools, quality vehicles and focused marketing efforts has amassed a huge client base over the last few years, and the addition of used taxis is set to further strengthen its stance as India's premier online marketplace for buying and selling automobiles. (ANI)

Now there is a marketplace to buy and sell pre-owned taxis in India

The central character of many journeys, stories and experiences, Indian taxis are one of the most familiar sights on urban roads.

With its latest category, 'Taxis', pioneering online automobile transactional marketplace, Droom, has ensured a new lease of life to these iconic vehicles by enabling buyers and sellers of used taxis to transact over the platform.

These pre-owned taxis will be available at a starting price range of Rs. 1,00,000, and upwards.

Sellers and buyers can easily obtain the fair prices of these vehicles with the help of Orange Book Value (OBV) and can also order the Droom ECO certified inspection report to get the better idea about the condition of the vehicle.

The used taxis can be bought and sold by buyers and sellers pan-India.

"Droom is the largest online automobile platform in India and we endeavor to add every possible automobile related category to provide the widest collection of vehicles as per buyer needs. We received a lot of queries from interested buyers for used taxis, hence we decided to include such vehicles in our list of offerings," said founder and CEO, Droom, Sandeep Aggarwal.

"Additionally, pre-owned taxis further diversifies our product type and adds a unique dimension to the burgeoning vehicle listings on our platform, thus enabling us to reach out to newer clients and markets," Aggarwal added.

Although Droom currently sells such taxis only to individual dealers and sellers through its B2C and C2C operations, it aims to tie up with large taxi aggregators and local taxi vendors in near future.

The online platform with its unique ecosystem services tools, quality vehicles and focused marketing efforts has amassed a huge client base over the last few years, and the addition of used taxis is set to further strengthen its stance as India's premier online marketplace for buying and selling automobiles. (ANI)

Online marketplace Droom moves to sell pre-owned taxis too

Buyer will get a certified, inspected taxi with fair price evaluated through Orange book value

The emergence of shared mobility concept has led to an increased demand for commercial cars across segments from small to luxury.

However, not many can afford new cars and to provide easy access to such taxi drivers in terms of pricing and availability, online marketplace for buying and selling of used cars Droom is launching taxis.

These pre-owned taxis will be available at prices starting from ₹1 lakh.

Sandeep Aggarwal, Founder, Droom, told BusinessLinethat “It is difficult for a driver to invest ₹5-6 lakh and pay high road tax to start his business.

“With this initiative, Droom will decrease the cost of starting a business and a buyer will get a certified, inspected taxi with the fair price evaluated through Orange book value. Buyers can easily opt for a loan from Droom credit and make a hassle-free transaction online.”

Besides, the Droom ECO-certified inspection report will give the buyers a better idea about the condition of the vehicle.

“We received a lot of queries from interested buyers for used taxis, hence, we decided to include such vehicles in our list of offerings.

“Additionally, pre-owned taxi further diversifies our product type and adds a unique dimension to the burgeoning vehicle listings on our platform, thus enabling us to reach out to newer clients and markets,” he added. Although Droom sells such taxis only to individual dealers and sellers through its B2C and C2C operations, it aims to tie up with large taxi aggregators and local taxi vendors, he said.

Droom, which started its operations in 2015, claims to have captured about 65 per cent of the automobile transactions share online.

Having raised around $65 million in five rounds, Droom said that it has a $489-million in annualized GMV growing at 220 per cent and is present in over 500 cities across the country.

In India, taxis are one of the biggest contributors in the commercial automobile transaction, including car, bus and trucks.

In India, every year around 34 lakh used and new commercial automobile sold out of which only 0.01 per cent is through online platforms, Aggarwal said, adding that Droom is the first player to enter this segment with a vision of having all the commercial vehicle available on its platform and enable buyers and sellers a hassle-free transaction of used commercial automobile.

“As there is merely 0.01 per cent in the online market for commercial vehicles in India, we are aiming to add more commercial vehicle category on its platform to increase online transaction percentage and holds the maximum share of it,” Aggarwal added.

For overseas expansion, startups look to hire foreign Ivy League interns

Foreign interns are being hired ahead of expansion in order to not only familiarize them with the company's operations but also prepare a pool of manpower for handling overseas markets

As they prepare to expand overseas, Indian startups like Droom, Pepperfry and HealthifyMe are planning to hire foreign students from top universities including Ivy League schools for newer markets. Foreign interns are being hired ahead of expansion in order to not only familiarize them with the company's operations but also prepare a pool of manpower for handling overseas markets.

For instance, Droom, an online marketplace for buying and selling used cars, started by ShopClues founder Sandeep Aggarwal, has started a 'Global Internship Program'. Under the program, the startup has been closely working with B-schools, primarily in the US, Canada and UK for attracting talent for internships at its India office.

"If we want to be a global name we want to have a global talent.. So, this year we will be hosting for the first time management and engineering interns from the likes of Harvard, Wharton and Stanford under the Global Internship Program. Hopefully, a lot of them will go back with full-time job offers. As we expand internationally this year, we also feel that people coming from different background and geographies will only add to the operations at Droom," said Aggarwal.

Having already set up a subsidiary in the US, Droom is now looking at expansion into Indonesia, Malaysia and Philippines in the first half of this year, followed by South Asian and MENA region in the second half.

"The foreign interns will be working from our Indian office and will be eventually deployed at our new international locations such as Indonesia or Philippines," said Aggarwal.

For online furniture marketplace Pepperfry and lifestyle tracking platform HealthifyMe who are also working on building their global footprint, the move will happen by early next year.

"We are looking to expand. However, we don't have any program for foreign interns going on. But as we scale, this is something that we are evaluating. It will be slightly longer than this year as in early part of next year when our expansion would have become more meaningful," said Ambareesh Murty, co-founder, Pepperfry. The online furniture player is looking at markets such as Middle East, Australia and South East Asia based on the favourable demographics in these regions.

Among these, HealthifyMe already boasts of interns from the likes of MIT Sloan, and Columbia University who have worked for their Indian operations. However, going forward, the startup which is expanding its footprint into Latin America, Middle East and South East Asia, is looking at hiring interns next year from the top global universities for these markets.

"Hiring locally for global market will happen next year for us. So far, we have had interns from MIT Sloan and Columbia University for profiles of computer science, data science and management. We already have Stanford and other Ivy League alumni working with us but these are the ones who have relocated here," said Tushar Vashisht, co-founder and CEO of HealthifyMe which annually hires around 6-8 interns, 20 per cent of which come from abroad.

It is, however, the stipends where these startups vary a bit. While Droom offers a monthly stipend of Rs 75000 along with other amenities for international interns as against Rs 25000 for domestic interns from within India, Pepperfry offers anywhere between Rs 30000 and Rs 50000 per month.

HealthifyMe, on the other hand, offers the same stipend package for both domestic and international interns in the range of Rs 15000-20000 per month.

With most of the overseas expansion yet to fully take shape, the startups are hiring interns in the general management categories, even as they intend to hire for specific roles as operations gather momentum in the newer markets.

Droom successfully hosts West India Seller Summit in Mumbai

The event was attended by over 300 auto-dealers from cities including Mumbai, Pune, Ahmedabad, Surat, Nagpur and Nashik.

Droom now has the largest seller community across India with over 2.15 lac dealers signed up across 500+ cities in India.

With an aim to empower sellers and help them enhance their online business strategies, Droom, India’s largest and pioneering online automobile transactional marketplace, successfully organized its Seller Summit in Mumbai. The event, held at Novotel Hotel, Juhu was attended by more than 300 dealers from multiple cities in western India, who traveled to Mumbai to be a part of this grand event.

The West India summit saw active participation of sellers from all the major cities in the region, including Mumbai, Pune, Ahmedabad, Surat, Nagpur and Nashik. The sellers who attended the Seller Summit included those have had a long-term association with Droom spanning 2.5 years as well as some new partners who partnered with Droom more recently. After the successful pilot launch and expansion of Droom’s C2B (Customer to Business) platform in Northern India, Droom also announced its plans to kick start the full-fledged operations of its C2B platform in Western India at the Summit. Droom used this opportunity to recognize its best performing sellers on the marketplace through it’s coveted Star Seller Awards. The accolades were given to sellers across various categories OBV Champion, Most Active Seller, Best Practices, Most Reviewed seller and Star Seller of the Year awards.

Speaking at the event, Rishab Malik, Co-Founder & SVP Business Development, droom.in said, commented, “Droom has the largest seller community in India with 2.15 lac sellers across 500 cities. Our platform has become the largest auto-portal by number of sellers, highest traffic in class and widest reach to over 500 cities in India and with almost 15,000 cr of listed automobiles on the platform. We have always been at the forefront to empower automobile sellers and offer them assistance with respect to technology and service requirements to help them sell more and faster at the most competitive prices. The West India Seller Summit was a huge success where hundreds of auto-dealers attended, some traveling hours from cities like Pune, Ahmedabad, Surat, Nagpur and Nashik.”

Through this event, Droom showcased it’s latest technologies and features for it’s dealers, hosted a seller panel for it’s top dealers in West India and provided a Q&A and opportunity for it’s partners to interact with it’s top management.

About Droom

Droom is India’s first and only online marketplace for buying and selling new and used automobiles. At over 65% of the automobile transactions market share online, Droom is the largest auto portal in India. Droom is not only the largest online automobile platform in India, but also the 3rd largest E-commerce company in India in terms of GMV. The automobile platform is category, seller, price, condition, and geography agnostic.

Droom platform has four marketplace formats i.e. B2C, C2C, C2B and B2B, and three pricing formats - Fixed Price, Best Offer and Auction. The platform offers wide range of categories from bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan. Droom uses data science to build trust at scale with a US Patent technology called Full Circle Trust Score. Droom has also built the de-facto pricing standard for used vehicles in India – OBV, which has a US patent. Droom has built the entire ecosystem for India so that the transaction for used automobiles can take place with least degree of information asymmetry and morale hazard.

It has built tech and data science heavy tools to create the entire ecosystem around used automobiles, including OBV (pricing engine), Eco (121 points vehicle inspection), History (200 mil vehicle history records), Discovery (dozens of pre-buying tools) and Credit (India’s first and only marketplace for used vehicles loans).

Droom is currently doing $489 Mil+ in annualized GMV growing at the rate of 220% Y/Y, 225K+ auto dealers (largest auto dealer platform in India), presence in 500+ cities across India (largest hyper local marketplace), 21.58 Mil+ monthly visitors, nearly 7 Mil+ app downloads and 5.5 Mil+ Facebook community.

Droom has the best unit economics as compared to any other E-commerce platform in India. The company spends less than 5% of GMV to run marketing and the entire cost of the company is less than 4% of GMV in terms of the net burn. Droom is the only E-commerce platform which has successfully built the cost advantage and sophistication of the tech platforms with the strong data science layer, nobody else has been able to do it in India.

Droom is founded by Sandeep Aggarwal, who previously founded ShopClues at his house in California in Oct 2010, which became 5th Unicorn in India by January 2016. Droom is a Singapore Holding Company with its subsidiary in India and United States. Droom has so far raised close to $65 million dollars in five rounds of funding. Droom is headquartered in Gurugram, India with a team size of 270+.

Droom gains top honours at Prime Time Awards 2017
Droom in news

Wins awards in categories- ‘Automotive Products and Services’ and ‘E-commerce and Web Services’

Beginning its new year in style, Droom, India’s largest and pioneering online automobile transactional marketplace, bagged two awards at the recently held Prime Time Awards 2017. Droom has won awards for its ecosystem marketing campaign ‘How Technology Beat Humans! It was awarded a Silver under the ‘Automotive Products & Services’ and a Bronze in the ‘E-Commerce & Web Services’ category.

The award-winning campaign, developed by Droom’s in-house marketing team in partnership with Contract Advertising, revolves around technology-led innovations introduced by Droom in pre-owned vehicle analysis and evaluation, an area that suffered from plain guesswork to vague assurances by sellers earlier. In fact, a pre-owned car buyer was seldom happy with a transaction as there was no quantitative mechanism to substantiate the pricing and he/she always felt to have landed up with an unfair deal.

The campaign highlighted Droom’s transformation of this scenario and building trust by leveraging its three key ecosystem tools, namely OBV (Orange Book Value), History, and Droom ECO, to accurately evaluate a used vehicle’s true condition, history and fair market value. These analyses are made based on completely scientific and mathematical algorithms as well as massive amounts of relevant historical data. For instance, OBV considers an array of parameters such as make, model, year, kilometers driven etc to give the fair market value of the vehicle in less than 10 seconds. Droom ECO takes this analysis further through physical inspection across more than 121 parameters! Additionally, History provides comprehensive history of used vehicles by utilizing available data of 20 crore out of 22 crore vehicles in India.

The ad campaign that highlighted these factors in a creative manner was effective across all the parameters of judgement. On the effectiveness quotient, it was seen that the campaign sharply increased the visitors to the marketplace increased by 67 percent to 90 million for the quarter, while the order volume increased by 33 percent. The marketing campaign was pivotal in making Droom the third-largest e-commerce player in terms of GMV in India, driving the growth of online used vehicle transactions on the platform.

About Droom

Droom is India’s first and only online marketplace for buying and selling new and used automobiles. At over 65% of the automobile transactions market share online, Droom is the largest auto portal in India. Droom is not only the largest online automobile platform in India, but also the 3rd largest E-commerce company in India in terms of GMV. The automobile platform is category, seller, price, condition, and geography agnostic.

Droom platform has four marketplace formats i.e. B2C, C2C, C2B and B2B, and three pricing formats - Fixed Price, Best Offer and Auction. The platform offers wide range of categories from bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan. Droom uses data science to build trust at scale with a US Patent technology called Full Circle Trust Score. Droom has also built the de-facto pricing standard for used vehicles in India – OBV, which has a US patent. Droom has built the entire ecosystem for India so that the transaction for used automobiles can take place with least degree of information asymmetry and morale hazard.

It has built tech and data science heavy tools to create the entire ecosystem around used automobiles, including OBV (pricing engine), Eco (121 points vehicle inspection), History (200 mil vehicle history records), Discovery (dozens of pre-buying tools) and Credit (India’s first and only marketplace for used vehicles loans).

Droom is currently doing $489 Mil+ in annualized GMV growing at the rate of 220% Y/Y, 225K+ auto dealers (largest auto dealer platform in India), presence in 500+ cities across India (largest hyper local marketplace), 21.58 Mil+ monthly visitors, nearly 7 Mil+ app downloads and 5.5 Mil+ Facebook community.

Droom has the best unit economics as compared to any other E-commerce platform in India. The company spends less than 5% of GMV to run marketing and the entire cost of the company is less than 4% of GMV in terms of the net burn. Droom is the only E-commerce platform which has successfully built the cost advantage and sophistication of the tech platforms with the strong data science layer, nobody else has been able to do it in India.

Droom is founded by Sandeep Aggarwal, who previously founded ShopClues at his house in California in Oct 2010, which became 5th Unicorn in India by January 2016. Droom is a Singapore Holding Company with its subsidiary in India and United States. Droom has so far raised close to $65 million dollars in five rounds of funding. Droom is headquartered in Gurugram, India with a team size of 270+.

Why start-ups need a recruitment process

The quality of employees can make or break a start-up. Here’s how to make sure you don’t end up with bad hires

When the co-founder and chief executive officer (CEO) of Bengaluru-based start-up Log 9 Materials, Akshay Singhal, needed to recruit a senior researcher, the company brought in someone on the recommendation of its head of development. There was no formal interview process to vet the candidate’s suitability to work at the three-year-old graphene research and development company. A key team member vouching for the person’s expertise was considered enough. Exactly 22 days later, this senior researcher was fired for being indiscreet about company information.

Singhal has since resolved not to hire any personnel without an official interaction or proper background check.

The challenges a start-up faces in its formative years are manifold. But whether it’s finding a product or service that meets a critical need, developing a business model, raising and managing funds in order to scale or managing and motivating employees, the one thing every entrepreneur needs is the right set of people. “Ask any investor or second-time entrepreneur and they will tell you that 90% of an early-stage start-up’s success is about the team and just 10% can be attributed to the quality of the idea,” Shradha Sharma and T.N. Hari write in their book Cut The Crap And Jargon: Lessons From The Start-up Trenches.

Ironically, this very aspect is often neglected. Without a formal procedure for recruitment, and, in some cases, the absence of a human resources department, many early-stage start-ups end up hiring people mainly on the basis of references. This type of quick, informal decision making doesn’t allow them to realistically gauge whether the person is suitable for the job. As a result, they’re often left in the lurch when candidates, who appeared great on paper, quit abruptly. “In the first one year, our attrition rate was almost 30-35%,” says Manav Jeet, managing director (MD) and CEO, Rubique, a Mumbai-based financial technology company. Jeet says employees hired on the basis of their skill set and past experience were unable to adapt to the start-up culture.

What to look for

Hiring for an early stage start-up is very different from recruiting for a corporation. “In an established company, you can boast about the salary, perks, work-life balance, swanky office, provident fund, leave policies, unlike in a start-up, where you boast about vision, learning opportunity and ownership,” says Tamanna Dhamija, co-founder of Baby Destination, an online maternity and parenting lifestyle management start-up.

The first 10 hires in a start-up are critical because this core team will set the tone and culture of the organization. “At this stage, interviewing people, writing the job description, etc., should be the founder’s responsibility,” says Ganesh Krishnan, a serial entrepreneur and investor who has worked with over 15 start-ups. Only after scaling to a certain size should start-ups consider outsourcing recruitment of key positions.

“One must see if the candidate has any record of being a risk taker, fast riser in his/her career, the ability to take on more responsibilities than his/her own job,” says Dedeepya Ajith John, associate director, Knowledge & Advisory, SHRM India. She adds that entrepreneurs must also carefully consider whether they want to hire for potential, not experience, in this sector. “Be wary of people who have a sense of entitlement or do not want to work hands on,” says Subodh Kumar, co-founder and CEO, Liv.ai, a Bengaluru-based speech-recognition start-up.

Set up a recruitment process

In a start-up, every employee exit has the potential to disrupt the workflow, or even leave the company’s operational plans in disarray. The situation is exacerbated by the time and effort that goes into hiring a replacement. Which is why it’s imperative for start-ups to evolve a formal recruitment policy, even in the early stages.

Droom, a three-year-old online marketplace for buying and selling used vehicles, has put together a list of core competencies and values expected from employees, including key aspects such as customer centricity, passion, energy, frugality, learning from mistakes, strong work ethic, and humility. The company has also devised a 2/2 metric system that assigns a point each to the deliverables of the job and whether they are a good cultural fit for Droom. Anyone who doesn’t score on both metrics doesn’t make the cut.

Sandeep Aggarwal, founder and CEO of Droom, explains, “Since candidates come from different educational backgrounds, age groups, regions, and work in different functional areas, we felt the need to have a common thread to bind this diverse workforce to build a strong institution, and hence came up with these core values.”

After its bad experience, Log 9 Materials has introduced a one-month probation period that gives new recruits space to experience the company culture. The company, in turn, gets time to evaluate employee performance. Singhal says the system is working for them. “We have retained 60% of the people hired in the last year, and I believe that is the most dedicated and passionate lot I could have got.”

When it’s time to let go

So you made a bad hire and find yourself dealing with a challenging employee. How do you know when it’s time to part ways? In ‘Cut The Crap And Jargon: Lessons From The Start-up Trenches’, authors Shradha Sharma and T.N. Hari share two tips:

■ Underperformers are easy to spot. But employees who are on the cusp of underperformance, especially if they report to you or are in key roles even two levels below you, can weaken the foundation of your start-up. Keep a close eye on them. To see improvement after feedback but later be faced with the same issue again can be frustrating. In such cases, it’s important to take a quick call.

■ Accusations of discrimination are particularly hard to disprove in start-ups, as they are unlikely to maintain documentation that can withstand scrutiny. It can be particularly damaging if your start-up is in the midst of a fund-raiser, as such allegations can scare off investors. Side-step any potential drama by setting up a continuous process of feedback. It should be delivered in writing and include actions agreed upon and timelines.

Droom successfully hosts West India Seller Summit in Mumbai
Droom in news

The event was attended by over 300 auto-dealers from cities including Mumbai, Pune, Ahmedabad, Surat, Nagpur and Nashik.

Droom now has the largest seller community across India with over 2.15 lac dealers signed up across 500+ cities in India.

With an aim to empower sellers and help them enhance their online business strategies, Droom, India’s largest and pioneering online automobile transactional marketplace, successfully organized its Seller Summit in Mumbai. The event, held at Novotel Hotel, Juhu was attended by more than 300 dealers from multiple cities in western India, who traveled to Mumbai to be a part of this grand event.

The West India summit saw active participation of sellers from all the major cities in the region, including Mumbai, Pune, Ahmedabad, Surat, Nagpur and Nashik. The sellers who attended the Seller Summit included those have had a long-term association with Droom spanning 2.5 years as well as some new partners who partnered with Droom more recently. After the successful pilot launch and expansion of Droom’s C2B (Customer to Business) platform in Northern India, Droom also announced its plans to kick start the full-fledged operations of its C2B platform in Western India at the Summit. Droom used this opportunity to recognize its best performing sellers on the marketplace through it’s coveted Star Seller Awards. The accolades were given to sellers across various categories OBV Champion, Most Active Seller, Best Practices, Most Reviewed seller and Star Seller of the Year awards.

Speaking at the event, Rishab Malik, Co-Founder, SVP Business Development, droom.in said, commented, “Droom has the largest seller community in India with 2.15 lac sellers across 500 cities. Our platform has become the largest auto-portal by number of sellers, highest traffic in class and widest reach to over 500 cities in India and with almost 15,000 cr of listed automobiles on the platform. We have always been at the forefront to empower automobile sellers and offer them assistance with respect to technology and service requirements to help them sell more and faster at the most competitive prices. The West India Seller Summit was a huge success where hundreds of auto-dealers attended, some traveling hours from cities like Pune, Ahmedabad, Surat, Nagpur and Nashik.”

Through this event, Droom showcased it’s latest technologies and features for it’s dealers, hosted a seller panel for it’s top dealers in West India and provided a Q&A and opportunity for it’s partners to interact with it’s top management.

About Droom

Droom is India’s first and only online marketplace for buying and selling new and used automobiles. At over 65% of the automobile transactions market share online, Droom is the largest auto portal in India. Droom is not only the largest online automobile platform in India, but also the 3rd largest E-commerce company in India in terms of GMV. The automobile platform is category, seller, price, condition, and geography agnostic.

Droom platform has four marketplace formats i.e. B2C, C2C, C2B and B2B, and three pricing formats - Fixed Price, Best Offer and Auction. The platform offers wide range of categories from bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan. Droom uses data science to build trust at scale with a US Patent technology called Full Circle Trust Score. Droom has also built the de-facto pricing standard for used vehicles in India – OBV, which has a US patent. Droom has built the entire ecosystem for India so that the transaction for used automobiles can take place with least degree of information asymmetry and morale hazard.

It has built tech and data science heavy tools to create the entire ecosystem around used automobiles, including OBV (pricing engine), Eco (121 points vehicle inspection), History (200 mil vehicle history records), Discovery (dozens of pre-buying tools) and Credit (India’s first and only marketplace for used vehicles loans).

Droom is currently doing $489 Mil+ in annualized GMV growing at the rate of 220% Y/Y, 225K+ auto dealers (largest auto dealer platform in India), presence in 500+ cities across India (largest hyper local marketplace), 21.58 Mil+ monthly visitors, nearly 7 Mil+ app downloads and 5.5 Mil+ Facebook community.

Droom has the best unit economics as compared to any other E-commerce platform in India. The company spends less than 5% of GMV to run marketing and the entire cost of the company is less than 4% of GMV in terms of the net burn. Droom is the only E-commerce platform which has successfully built the cost advantage and sophistication of the tech platforms with the strong data science layer, nobody else has been able to do it in India.

Droom is founded by Sandeep Aggarwal, who previously founded ShopClues at his house in California in Oct 2010, which became 5th Unicorn in India by January 2016. Droom is a Singapore Holding Company with its subsidiary in India and United States. Droom has so far raised close to $65 million dollars in five rounds of funding. Droom is headquartered in Gurugram, India with a team size of 270+.

तो ये हैं पुराने वाहनों के सबसे बड़े बाजार, जानिए…

देश में पुराने वाहनों के बाजार में दिल्ली, पुणे, अहमदाबाद और बेंगलुरु सबसे बड़े बाजार में रूप में उभरे है। प्रमुख ऑनलाइन ऑटोमोबाइल मार्केटप्लेस ड्रूम ने सोमवार को 2017 के लिए अपनी सालाना ऑटोमोबाइल रिसर्च रिपोर्ट जारी की, जिसमें यह दावा किया गया है। इसमें कहा गया है कि चार सबसे बड़े बाजारों के तौर पर दिल्ली, पुणे, अहमदाबाद और बेंगलुरू उभरकर सामने आए।

जीडीपी के अनुपात में विनिर्माण निर्यात में गिरावट : आर्थिक सर्वेक्षण

दिल्ली, पुणे और लुधियाना देश के टॉप तीन कार बाजार के तौर पर सामने आए जबकि दिल्ली, पुणे और अहमदाबाद ने दोपहिया वाहनों में टॉप तीन स्थानों पर कब्जा जमाया है। रिपोर्ट के मुताबिक बजाज पल्सर, हीरो पैशन प्रो और बजाज डिस्कवर टॉप परफॉर्मिंग मोटरसाइकिल के रूप में उभरे हैं ,जबकि हार्ले डेविड्सन, सुजुकी हायाबुसा और कावासाकी निंजा ने सुपरबाइक्स सेग्मेंट में कब्जा जमाया है।

कार वर्ग में स्विफ्ट, स्विफ्ट डिजायर और होंडा सिटी ग्राहकों की पहली पंसद बनकर अभरे हैं। ड्रूम पर बेची गई मोटरसाइकिलों की औसत उम्र 63 माह रही, जबकि स्कूटर की 57 माह और सुपर-बाइक की 37 माह रही है। इस पर बिकने वाली पुरानी कारों की औसत उम्र 71 महिने रही है। लग्जरी और सुपर कार में औसत उम्र 64 माह रही है। मोटरसाइकिल का औसत बिक्री मूल्य 42,039 रुपए, स्कूटर के लिए 32,166 रुपए , कारों के लिए 5,44,478 रुपए रहा है।

ड्रूम के संस्थापक और मुख्य कार्यकारी अधिकारी संदीप अग्रवाल ने यह रिपोर्ट जारी करते हुए कहा कि कारों और मोटरसाइकिलों के ऑनलाइन बिक्री की बाजार हिस्सेदारी बढ़ रही है। यह एक संकेत है कि लोगों की खर्च करने की क्षमता बढ़ी है। वहीं भारतीय कंज्यूमर ऑनलाइन प्लेटफार्म को तेजी से अपना रहे हैं।

मंगलवार 30 जनवरी को पेट्रोल-डीजल की कीमत

180 अरब डॉलर के वार्षिक कारोबार के साथ भारत इस समय दुनिया का तीसरा सबसे बड़ा ऑटोमोबाइल बाजार है और इसका मात्र 0.6 प्रतिशत ही ऑनलाइन प्लेटफार्म पर है लेकिन जिस गति से लोग ऑनलाइन बाजार में आ रहे हैं उससे इसके वर्ष 2022 तक बढक़र छह से सात प्रतिशत पर पहुुुंचने का अनुमान है।

उन्होंने कहा कि ‘मेक इन इंडिया’कार्यक्रम को भारतीय उपभोक्ताओं का भी भरपूर साथ मिल रहा है। भारत में बनी कारों और मोटरसाइकिलें उपभोक्ताओं की पहली पसंद है। मैनुअल ट्रांसमिशन अब भी दोपहिया और चार पहिया वाहनों के भारतीय खरीदारों के लिए पहली प्राथमिकता है। मुंबई, हैदराबाद, जयपुर, गाजियाबाद तथा गुडग़ांव चार पहिया वाहनों के लिए उभरते बाजार है।

Budget '18: E-commerce sector hopeful of corporate tax reduction

With the presentation day of the Union Budget inching closer, the Indian e-commerce sector are hopeful of a reduction in corporate tax to provide them a much-needed impetus and tax relief.

Additionally, a section of the industry is also looking forward to greater capital inflow for Digital India, which has significantly slowed down.

Here are some expectations from the sector, ahead of this year's Union Budget:

Droom

"The capital inflow for Digital India has significantly slowed down in 2016 and 2017, if you exclude the top 5 investments each year. So, with this budget, I would like to see specific measures undertaken by the Government to promote start-ups, entrepreneurship and Digital India. I truly hope the cost of capital in this country goes down, the capital becomes more accessible, there is no capital gain tax on start-up exits, there is no dividend taxes on start-ups, and an Indian incorporated company can list outside of India without having to be listed in India after an IPO. I also hope that the government significantly improves Internet infrastructure with high speed internet, low cost data plans and less choppiness in mobile Internet. I would also like government to have a higher sensitivity around level playing for home grown companies and local entrepreneurs versus foreign digital /Internet companies," said Sandeep Aggarwal, founder and CEO, Droom.

Budget '18: E-commerce sector hopeful of corporate tax reduction

New Delhi [India], Jan 30 : With the presentation day of the Union Budget inching closer, the Indian e-commerce sector are hopeful of a reduction in corporate tax to provide them a much-needed impetus and tax relief.

Additionally, a section of the industry is also looking forward to greater capital inflow for Digital India, which has significantly slowed down.

Here are some expectations from the sector, ahead of this year's Union Budget:

Droom

"The capital inflow for Digital India has significantly slowed down in 2016 and 2017, if you exclude the top 5 investments each year. So, with this budget, I would like to see specific measures undertaken by the Government to promote start-ups, entrepreneurship and Digital India. I truly hope the cost of capital in this country goes down, the capital becomes more accessible, there is no capital gain tax on start-up exits, there is no dividend taxes on start-ups, and an Indian incorporated company can list outside of India without having to be listed in India after an IPO. I also hope that the government significantly improves Internet infrastructure with high speed internet, low cost data plans and less choppiness in mobile Internet. I would also like government to have a higher sensitivity around level playing for home grown companies and local entrepreneurs versus foreign digital /Internet companies," said Sandeep Aggarwal, founder and CEO, Droom.

दिल्ली, पुणे, बेंगलुरु और अहमदाबाद पुराने वाहनों के सबसे बड़े बाजार

नयी दिल्ली| देश में पुराने वाहनों के बाजार में दिल्ली, पुणे,अहमदाबाद और बेंगलुरु सबसे बड़े बाजार में रूप में उभरे हैं।

प्रमुख ऑनलाइन ऑटोमोबाइल मार्केटप्लेस ड्रूम ने आज 2017 के लिए अपनी सालाना ऑटोमोबाइल रिसर्च रिपोर्ट जारी की,जिसमें यह दावा किया गया है। इसमें कहा गया है कि चार सबसे बड़े बाजारों के तौर पर दिल्ली, पुणे, अहमदाबाद और बेंगलुरू उभरकर सामने आए। दिल्ली, पुणे और लुधियाना देश के टॉप तीन कार बाजार के तौर पर सामने आए जबकि दिल्ली, पुणे और अहमदाबाद ने दोपहिया वाहनों में टॉप तीन स्थानों पर कब्जा जमाया है।

रिपोर्ट के अनुसार बजाज पल्सर, हीरो पैशन प्रो और बजाज डिस्कवर टॉप परफॉर्मिंग मोटरसाइकिल के रूप में उभरे हैं ,जबकि हार्ले डेविड्सन, सुजुकी हायाबुसा और कावासाकी निंजा ने सुपरबाइक्स सेग्मेंट में कब्जा जमाया है। कार वर्ग में स्विफ्ट, स्विफ्ट डिजायर और होंडा सिटी ग्राहकों की पहली पंसद बनकर अभरे हैं।

ड्रूम पर बेची गई मोटरसाइकिलों की औसत उम्र 63 माह रही, जबकि स्कूटर की 57 माह और सुपर-बाइक की 37 माह रही है। इस पर बिकने वाली पुरानी कारों की आैसत उम्र 71 महिने रही है। लग्जरी और सुपर कार में औसत उम्र 64 माह रही है। मोटरसाइकिल का औसत बिक्री मूल्य 42,039 रुपए, स्कूटर के लिए 32,166 रुपए , कारों के लिए 5,44,478 रुपए रहा है।

ड्रूम के संस्थापक और मुख्य कार्यकारी अधिकारी संदीप अग्रवाल ने यह रिपोर्ट जारी करते हुये कहा कि कारों और मोटरसाइकिलों के ऑनलाइन बिक्री की बाजार हिस्सेदारी बढ़ रही है। यह एक संकेत है कि लोगों की खर्च करने की क्षमता बढ़ी है। वहीं भारतीय कंज्यूमर ऑनलाइन प्लेटफार्म को तेजी से अपना रहे हैं। 180 अरब डॉलर के वार्षिक कारोबार के साथ भारत इस समय दुनिया का तीसरा सबसे बड़ा ऑटोमोबाइल बाजार है और इसका मात्र 0.6 प्रतिशत ही ऑनलाइन प्लेटफार्म पर है लेकिन जिस गति से लोग ऑनलाइन बाजार में आ रहे हैं उससे इसके वर्ष 2022 तक बढ़कर छह से सात प्रतिशत पर पहुुुंचने का अनुमान है।

उन्होंने कहा कि ‘मेक इन इंडिया’ कार्यक्रम को भारतीय उपभोक्ताओं का भी भरपूर साथ मिल रहा है। भारत में बनी कारों और मोटरसाइकिलें उपभोक्ताओं की पहली पसंद है। मैनुअल ट्रांसमिशन अब भी दोपहिया और चार पहिया वाहनों के भारतीय खरीदारों के लिए पहली प्राथमिकता है। मुंबई, हैदराबाद, जयपुर, गाजियाबाद तथा गुड़गांव चार पहिया वाहनों के लिए उभरते बाजार है।

The action plan for digital: are you in?

Digital might be a go-to medium for your ads, but many may not be utilising the platform well enough to extract a better bang for their buck

Sandeep Aggarwal

The continued rise of digital and social media has given an unparalleled voice to users. Advertisers are now looking to sculpt advertising experiences catering to individual tastes and preferences, utilising the information collected by big data and analytics. I believe that digital advertising can be utilised very effectively and this is the reason that in the last 20 years, digital advertising budgets have increased from 1-2% of the total advertising budget to 15-20% in many countries today. I am confident that this number will continue to go up because people are spending a considerable amount of their time online.

Some of the ways through which digital advertisers can optimise their efforts include:

*Granular analysis/effective performance management

Digital advertisers have access to numerous tests and tools to measure the effectiveness of their digital campaigns across keywords, digital ads, sponsored posts, etc. In such a data-rich environment, only considering average figures may not help identify ‘rotten apples’ or non-performing marketing initiatives. Marketers today have various weapons in their digital arsenals, each with individual performance information. If you need marketing budgets to be aligned closely with the business performance, then digital can be used more effectively. In order to optimise marketing costs, it is necessary for marketers to carry out an in-depth pre- and post-analysis of their various marketing strategies.

Rather than being influenced only by grand totals and averages, a meticulous understanding of the contribution of each and every element towards the end result helps in formulating optimisable alternatives. This is possible in the case of digital advertising. In case of digital, the entire data is trackable, scannable, traceable and analysable. If you can empower digital ads with analysis, you can use them more effectively.

*Choose an ideal marketing mix

In case of traditional advertising, a brand had no option but to deploy huge amounts of marketing budgets to TVCs aired across channels to get some sort of results. However, digital works on a ‘pay per use’ model, wherein one can deploy small amounts of budgets on different digital campaigns and analyse if the campaign is successful or not.

Developing an ideal mix of digital advertising tactics helps to offset losses suffered from less traction in one medium with gains in others. SEO, sponsored posts, social media page ads and video blogs are some of the major methods of digital advertising.

'Government must look beyond vehicle ownership and find real solutions'

India's online used vehicle market has caught the attention of digitally savvy consumers. Business Today's Karan Dhar sat down with Sandeep Aggarwal, Founder and CEO, Droom to understand emerging trends in the sector.

Q. It's been 3 years since you started. How has Droom evolved over these years?

When we started Droom, everyone thought there is already Quikr, OLX, CarWale, CarDekho, CarTrade, Zigwheel and Gaadi.com , then why would India need an eighth company in the same vertical?!

"What's wrong with Sandeep Aggarwal? He created ShopClues, which was such a unique concept. Why he is doing something in this crowded space?" These are just some of the doubts people voiced quite openly. This is how they perceived Droom three years back.

But in three years we have clearly shown that online classifieds is a separate category altogether. They can operate in 150 categories of used items like dog wanted, accountant wanted, lawyer wanted, car for sale, house for sale, or looking for a match for a girl.

Discovery platforms are all about rich content, videos, ratings and reviews etc. However, we created a new category called end-to-end transactions in a marketplace setting for automobiles, which was unheard of in this country.

Some of our products have become the de-facto industry standards like Orange Book Value is now considered to be the only benchmark for used vehicle pricing in India. We have got 10 million plus monthly visitors, which may not be the case with many well-funded e-commerce websites in India.

IIT Roorkee continues to be recognized as one of the best technical institutions among older IITs

Roorkee: Indian Institute of Technology Roorkee witnessed a successful year with major accomplishments in academics, research as well as in fundamental sciences, engineering and management studies. Overall, it was a year of growth, exemplary recognition and outstanding research from both faculty and scholars in 2017. It has been a successful year with many firsts. Few major highlights from 2017 are:

IIT Roorkee has the rare distinction of having work carried out in its campus being published in Nature publishing journals and other international journals with high repute. The five top most journals that scientists from all over the world aspire for. research by Prof. Shailly Tomar, Department of Biotechnology developed medicine for Chikungunya; Prof. Ranjana Pathania, Department of Biotechnology developed path-breaking technique to help reverse drug resistance; Prof. K.L. Yadav, Department of Physics to develop a low- cost method of Osteoarthritis; Prof. Davinder Kaur, Department of Physics developed breakthrough In Memory Device Technology; the Early Earthquake Warning system developed and installed by Prof. M. L. Sharma, Department of Earthquake Engineering; Prof. N.K. Padhy and Prof. E. Rajasekar from Department of Electrical and Architecture respectively for smart grid project; Morphological Study of Ganga, Sharda and Rapti Rivers by Prof. Z Ahmad from our Civil Engineering department, or the ‘Low-cost Jamun Solar Cells’ developed by Prof. Soumitra Satapathi’s group in the Department of Physics are some of the outstanding work being undertaken by the researchers at the Institute to address critical problems of the society.

In the past year, the Institute witnessed many student and faculty achievements. Prof. G.D. Ransinchung R.N., Mr. Surender Singh (Research Scholar), Prof. Praveen Kumar and Prof. Manoranjan Parida received IRC National Award on Road Research; Prof. Kaustav Chatterjee, Department of Civil Engineering was selected for the John Carter Award 2017 for his outstanding research potential in Geomechanics. Sidharth Arora, PhD Scholar in the Department of Biotechnology for being awarded the Biotechnology Ignition Grant (BIG) by BIRAC for his project on production of thermo-tolerant and acid-stable Phytase in a novel solid-state fermentation (SSF) bioreactor. A team of students Ekdeep Lubana, Anisha Godha, Ankit Bagaria and Utkarsh Saxena won the First prize of 25,000 Euro at the Ericsson Innovation Awards 2017, in a global competition at Nobel Museum in Stockholm, Sweden. The IITR team developed an app SNAP which uses a precision agriculture technology based on principles of hyper-spectral imaging of crop leaves to determine the optimum fertilizer inputs for the crop. Also, Mr. Raja Jain, 3rd year student, Department of Biotechnology and Ms. Nimisha Gupta, 4th year student, Department of Chemical Engineering, IIT Roorkee, have Developed EvaCool, a Low-Cost Evaporative Air Cooling Solution and emerged as the winners in the finals of Go Green in the City 2017. An IIT Roorkee team consists of Mr. Rohit Joshi and Mr. Renju K Kokkattu was selected as the winners of B-Plan Competition of Droom’s merchandise. Additionally, the IIT Roorkee PhD student Mr. Repaul Kanji won France-India 24H Chrono Entrepreneurship Challenge.

Sandeep Aggarwal Foundation and Droom partner with Umeed Foundation this holiday season

Gurugram: Sandeep Aggarwal Foundation and Droom partner with Umeed Foundation this holiday season

As per a press statement: Bolstering its commitment to being a socially-responsible corporate organization, Droom, India’s largest and pioneering online automobile transactional marketplace organized a grand Christmas celebration for the differently-abled children of Umeed Foundation in Gurugram. As part of its most recent CSR initiative, Sandeep Aggarwal Foundation, kick-started by Droom’s Founder and CEO collaborated with Umeed Foundation, an NGO for specially-abled children to spread joy and happiness amongst these kids, on the sidelines of the Christmas/ holiday season.

The press statement further said that the celebration, which was hosted from 11 am to 3 pm, was attended by a large number of students and educators from the Umeed Foundation. Interesting games like racing, puzzles, collecting balls, etc were held at the event. The members of the Droom team and the kids from Umeed Foundation together participated in all the contests. Post the activity session, numerous gifts such as puzzle games, sound and light toys, dolls and soft toys, pencil boxes, creative games etc. were distributed to the kids who were between the age group of 8 years to 25 years. Sandeep Aggarwal Foundation, supported by Droom, organized a special lunch fiesta for the children and the educators. A range of stationary items including pens, sketch pens, pencils, drawing books, chart papers, etc. were donated to the foundation.

Commenting on the initiative, Sandeep Aggarwal, Founder and CEO, Droom, and said, “Christmas and the holiday season is all about spreading love and sharing with one another. I am sure that each and every kid in this world eagerly waits for Santa to come and surprise them with gifts. We believe our small step must have brought smiles on the faces of these very talented and enthusiastic children of the Umeed Foundation. We hope that it was a fun-filled and memorable afternoon for the children. I am thankful to Umeed Foundation for giving us the opportunity to spend time with the children and spread joy this holiday season. Sandeep Aggarwal Foundation and Droom will continue to focus on touching more lives in the new year.”

Delhi, Pune, Ahmedabad emerge as top automobile markets

Online automobile marketplace Droom on Friday shared the key findings of its annual automobiles research report for 2017 with interesting insights on the major trends that dominated the automobile industry, including the pre-owned vehicle segment.

Delhi, Pune and Ludhiana emerged as the top three car markets in India, while the Delhi, Pune and Ahmedabad occupied the top three positions for two-wheelers.

Overall, Delhi, Pune, Ahmedabad and Bangalore emerged as the top four markets for Droom.

Bajaj Pulsar, Hero Passion Pro and Bajaj Discover emerged as the top performing bikes, while Harley Davidson, Suzuki Hayabusa and Kawasaki Ninja ruled the roost when it came to super bikes.

Moreover, Maruti Suzuki Swift, Maruti Suzuki Swift Dzire and Honda City were preferred by car buyers.

"We have witnessed a considerable increase in the percentage market share of cars and bikes transactions moving online and this is a clear indicator of the increased spending power and online adoption of the Indian consumers. At USD 180 billion annually, India is the third largest automobile market in the world and only 0.6 percent is online penetrated," said founder and CEO, Droom, Sandeep Aggarwal.

"We believe India will surpass USD 300 billion in total market size annually by 2022 and nearly 6 percent to 7 percent of this market can be enabled by online platforms," he added.

The report also revealed that the average age of bikes sold on Droom was 63 months, for scooters it was 57 months and 37 months in case of super-bikes.

Cars with an average age of 71 months fared the best on the platform, while luxury and super cars had an average age of 64 months.

The average selling price for bike was Rs. 42,039; for scooters was Rs. 32,166. The average selling price for cars was Rs. 5,44,478.

Delhi, Pune, Ahmedabad emerge as top automobile markets

GURUGRAM: Online automobile marketplace Droom on Friday shared the key findings of its annual automobiles research report for 2017 with interesting insights on the major trends that dominated the automobile industry, including the pre-owned vehicle segment.

Delhi, Pune and Ludhiana emerged as the top three car markets in India, while the Delhi, Pune and Ahmedabad occupied the top three positions for two-wheelers.

Overall, Delhi, Pune, Ahmedabad and Bangalore emerged as the top four markets for Droom.

Bajaj Pulsar, Hero Passion Pro and Bajaj Discover emerged as the top performing bikes, while Harley Davidson, Suzuki Hayabusa and Kawasaki Ninja ruled the roost when it came to super bikes.

Moreover, Maruti Suzuki Swift, Maruti Suzuki Swift Dzire and Honda City were preferred by car buyers.

"We have witnessed a considerable increase in the percentage market share of cars and bikes transactions moving online and this is a clear indicator of the increased spending power and online adoption of the Indian consumers. At USD 180 billion annually, India is the third largest automobile market in the world and only 0.6 percent is online penetrated," said founder and CEO, Droom, Sandeep Aggarwal.

"We believe India will surpass USD 300 billion in total market size annually by 2022 and nearly 6 percent to 7 percent of this market can be enabled by online platforms," he added.

The report also revealed that the average age of bikes sold on Droom was 63 months, for scooters it was 57 months and 37 months in case of super-bikes.

Cars with an average age of 71 months fared the best on the platform, while luxury and super cars had an average age of 64 months. The average selling price for bike was Rs. 42,039; for scooters was Rs. 32,166. The average selling price for cars was Rs. 5,44,478.

Droom partners with Mahindra, others for electric vehicles

The electric scooters (available on the Droom platform) are priced between Rs 20,000-42,400, while the electric cars are priced in the range of Rs 8-13 lakh.

New Delhi: Online automobile e-commerce platform Droom has partnered with players like Mahindra and Hero Electric to bring electric vehicles on its platform, a top company official today said.

The electric scooters (available on the Droom platform) are priced between Rs 20,000-42,400, while the electric cars are priced in the range of Rs 8-13 lakh.

Other partner brands include Okinawa Scooters and Yobykes.

"The launch of this category is in line with the Indian government's focus on electric vehicles, keeping in mind their environmental benefits, contribution in reducing the economy's spends and their long-term cost effectiveness," Droom founder and CEO Sandeep Aggarwal told .

As a promotional scheme, Droom will offer 100 per cent cashback on the booking amount for all new bookings of electric vehicles, he added.

"We have close to 1.32 lakh active listings already. We have 670 electric vehicles listed with us. The number is bound to increase as more and more OEMs will be launching electric vehicles in the future," Aggarwal said.

For now, the commission rates for Droom for electric vehicles is the same as petrol or diesel vehicles, he said adding that it believes slightly higher commissions can be charged in the category. SR SBT

Droom partners Mahindra, others for electric vehicles

New Delhi: Online automobile e-commerce platform Droom has partnered with players like Mahindra and Hero Electric to bring electric vehicles on its platform, a top company official today said.

The electric scooters (available on the Droom platform) are priced between Rs 20,000-42,400, while the electric cars are priced in the range of Rs 8-13 lakh. Other partner brands include Okinawa Scooters and Yobykes.

"The launch of this category is in line with the Indian government's focus on electric vehicles, keeping in mind their environmental benefits, contribution in reducing the economy's spends and their long-term cost effectiveness," Droom founder and CEO Sandeep Aggarwal told PTI.

As a promotional scheme, Droom will offer 100 per cent cashback on the booking amount for all new bookings of electric vehicles, he added.

"We have close to 1.32 lakh active listings already. We have 670 electric vehicles listed with us. The number is bound to increase as more and more OEMs will be launching electric vehicles in the future," Aggarwal said.

For now, the commission rates for Droom for electric vehicles is the same as petrol or diesel vehicles, he said adding that it believes slightly higher commissions can be charged in the category.

Droom partners Mahindra, others for electric vehicles

Online automobile e-commerce platform Droom has partnered with players like Mahindra and Hero Electric to bring electric vehicles on its platform, a top company official today said.

The electric scooters (available on the Droom platform) are priced between Rs 20,000-42,400, while the electric cars are priced in the range of Rs 8-13 lakh.

Other partner brands include Okinawa Scooters and Yobykes.

"The launch of this category is in line with the Indian government's focus on electric vehicles, keeping in mind their environmental benefits, contribution in reducing the economy's spends and their long-term cost effectiveness," Droom founder and CEO Sandeep Aggarwal told PTI.

As a promotional scheme, Droom will offer 100 per cent cashback on the booking amount for all new bookings of electric vehicles, he added.

"We have close to 1.32 lakh active listings already.

We have 670 electric vehicles listed with us. The number is bound to increase as more and more OEMs will be launching electric vehicles in the future," Aggarwal said.

For now, the commission rates for Droom for electric vehicles is the same as petrol or diesel vehicles, he said adding that it believes slightly higher commissions can be charged in the category.

Used car portals innovate to fill trust gap

Convincing customers remains the biggest challenge for online firms, as service tends to be hyperlocal barring in big cities

The used car market in India is almost entirely offline, despite the presence of online marketplaces of late. In a traditionally low-trust market, online firms are therefore banking on winning customer trust with innovative products and services. Sandeep Agarwal, founder of Droom, says India is a $180-billion automobile market, including vehicles and services.

Of this, only $1 billion is online. Droom enjoys 65 per cent share of this segment. He estimates online penetration would grow from 0.6 per cent now to 7 per cent by 2021, resulting in business of Rs 20 billion.

White rules auto market, followed by silver, grey

Colours play an important role in picking a car and white seems to lead the pack. According to an automobile trends report released by Droom, white is the most demanded colour and gets preferential treatment across segments including SUVs, sedans and luxury cars.

As per the report, white cars see sales of 46 per cent, followed by silver and grey at 20 and 11 per cent respectively. Red, black and orange make up for around 5 per cent of the demand each. Beige stands at 3 per cent and blue and brown each stand at 2 per cent.

Experts claim that colour plays a significant role in car sales across the world, including at the time of resale. White and silver cars promise the maximum returns.

According to a study by marketing information services firm JD Power, northern states of India are biased towards white with 66 per cent of car buyers choosing it. South India picks white 34 per cent. West and south markets were found to be slightly more experimental with colour choices with colours like red and maroon forming about 13 per cent of the sales.

However, industry analysts believe the conventional patterns related to choice of colours are set to change with more women entering the market. Female buyers of cars stand at about 10 to 12 per cent currently. Women have been found to be more biased towards brighter shades.

Drive in, Drive Out to open today

The two-day DNA Auto Show-Drive in, Drive Out will be inaugurated on Saturday by Santosh Verma, co-founder and director of My Eco Energy at the NSE Hall number 5 off Western Express Highway in Goregaon East.

You will get a chance to see and buy top carmakers’ popular models and superbikes with exciting offers. Don’t forget to pick up some cool car accessories too.

The DNA Auto Show will also offer a vintage car show courtesy Vintage & Classic Car Club of India and WIAA (cars owned by Nitin Dossa) and a peek into the future with Students of Veermata Jijabai Technical Institute presenting their work.

Droom's 'Orange Book Value expands to mobile segment

India's largest online marketplace for automobiles Droom has announced expansion of the scope of Orange Book Value, popularly known as OBV, to give the fair market value of used mobile phones to the customers.

After a blockbuster success for Droom's Orange Book Value (OBV), which provides a fair market value of any used vehicle, Droom has launched OBV for Mobile, a pricing engine for used mobile phones. Built on Droom's ecosystem tool, Orange Book Value (OBV), helps buyers accurately ascertain the Fair Market Value of any used phone - that too within 10 seconds.

Droom's 'OBV for Mobile' feature analyses mobile phones based on their make, model, age, condition, and accessories, besides many other factors, to come up with a fair, unbiased, and independent market value for a used phone.

OBV for Mobile works on artificial intelligence engine and has created India's largest database of used mobile phones to give the user a valuation report.

About two years ago, Droom had launched Orange Book Value (OBV), India's first and only artificial intelligence based pricing engine that provide the fair market value of any used vehicle under 10 seconds for free.

This product has gained huge traction and has delivered over 160 million pricing queries so far with over 10 million people trying OBV each month, either via its website or mobile app. With OBV for Mobile, Droom is expanding its ecosystem services tools beyond automobile to other lucrative secondary markets such as smartphones.

"India is the world's second largest smartphone market and will have over 500 million smartphones by end of 2018. At the time when smartphone adoption is growing very rapidly, the average duration of ownership is coming down equally rapidly. So, if you want to find out the right price of your used mobile phone and sell it for some extra cash or are considering exchanging it for a new model, Droom's OBV for Mobile can give you fair market value under 10 seconds for free," said founder and CEO Droom, Sandeep Aggarwal.

"We are confident that this new offering by Droom will help both sellers and buyers, and will emerge as a game changer for buying and selling used mobile phones in the country," added Aggarwal.

To gauge the Fair Market Value for a phone, users can log on to www.orangebookvalue.com and select 'OBV for Mobile' on the input panel.

They can then add the make, model, and age of the phone and select its condition using the Condition Meter to generate the approximate price range for that device.

The prices can be refined further to more accurately reflect the phone's actual market value by selecting available accessories and the working condition of individual components, such as camera, display, Wi-Fi, etc. OBV for Mobile comes with another Artificial Intelligence technology to evaluate the price of the used mobile phone by itself.

This feature is known as "Self-Diagnostic Test". In this case, the seller or buyer can run this test on the smartphone he/she wants to sell/buy. The test runs through all the technical components of the smartphone such as speakers, mic, Screen, camera, power and volume buttons etc. Based on this self-diagnostic test, 'OBV for mobile' provides a fair market value of the smartphone. Droom has added a dedicated section for used mobile pricing on the OBV iOS and Android apps, in addition, it allows app users to download the Free Pricing Report on their smartphones.

Droom's 'Orange Book Value expands to mobile segment

New Delhi: India's largest online marketplace for automobiles Droom has announced expansion of the scope of Orange Book Value, popularly known as OBV, to give the fair market value of used mobile phones to the customers.

After a blockbuster success for Droom's Orange Book Value (OBV), which provides a fair market value of any used vehicle, Droom has launched OBV for Mobile, a pricing engine for used mobile phones. Built on Droom's ecosystem tool, Orange Book Value (OBV), helps buyers accurately ascertain the Fair Market Value of any used phone - that too within 10 seconds.

Droom's 'OBV for Mobile' feature analyses mobile phones based on their make, model, age, condition, and accessories, besides many other factors, to come up with a fair, unbiased, and independent market value for a used phone.

OBV for Mobile works on artificial intelligence engine and has created India's largest database of used mobile phones to give the user a valuation report.

About two years ago, Droom had launched Orange Book Value (OBV), India's first and only artificial intelligence based pricing engine that provide the fair market value of any used vehicle under 10 seconds for free.

This product has gained huge traction and has delivered over 160 million pricing queries so far with over 10 million people trying OBV each month, either via its website or mobile app. With OBV for Mobile, Droom is expanding its ecosystem services tools beyond automobile to other lucrative secondary markets such as smartphones.

"India is the world's second largest smartphone market and will have over 500 million smartphones by end of 2018. At the time when smartphone adoption is growing very rapidly, the average duration of ownership is coming down equally rapidly. So, if you want to find out the right price of your used mobile phone and sell it for some extra cash or are considering exchanging it for a new model, Droom's OBV for Mobile can give you fair market value under 10 seconds for free," said founder and CEO Droom, Sandeep Aggarwal.

"We are confident that this new offering by Droom will help both sellers and buyers, and will emerge as a game changer for buying and selling used mobile phones in the country," added Aggarwal.

To gauge the Fair Market Value for a phone, users can log on to www.orangebookvalue.com and select 'OBV for Mobile' on the input panel. They can then add the make, model, and age of the phone and select its condition using the Condition Meter to generate the approximate price range for that device.

The prices can be refined further to more accurately reflect the phone's actual market value by selecting available accessories and the working condition of individual components, such as camera, display, Wi-Fi, etc. OBV for Mobile comes with another Artificial Intelligence technology to evaluate the price of the used mobile phone by itself.

This feature is known as "Self-Diagnostic Test". In this case, the seller or buyer can run this test on the smartphone he/she wants to sell/buy. The test runs through all the technical components of the smartphone such as speakers, mic, Screen, camera, power and volume buttons etc. Based on this self-diagnostic test, 'OBV for mobile' provides a fair market value of the smartphone. Droom has added a dedicated section for used mobile pricing on the OBV iOS and Android apps, in addition, it allows app users to download the Free Pricing Report on their smartphones. (ANI)

Droom extends fair price assessment tool service for used mobiles

Droom claims to have an annualized gross merchandise value of Rs 3,756 crore with an annual growth rate of 225%. Droom is targeting net profitability by 2018 end.

MUMBAI: Online marketplace for used cars Droom has extended its fair price value assessment tool, Orange Book Value for used mobile phones. ‘OBV for Mobile’ uses artificial intelligence to analyse the make, model and condition of a mobile phone before arriving at a fair price value for the same.

Currently in pilot mode, the service is available across all 500 cities where Droom has presence. Droom claims the orange book value service contributes almost 30% of its traffic generating over 10 million from its overall traffic of 31.2 million visitors.

For the mobile phone segment, the service will be moetised through a licensing model as also on the basis of lead generation. “We intend to license our technology to large horizontal ecommerce players who can then offer it to their buyers and sellers and also mobile OEMs and other resellers. Besides, we have a lead generation where large resellers can use ‘OBV for Mobile’ for leads and pay us on a per-lead basis,” said Sandeep Aggarwal, Founder and CEO of Droom.

While Droom did not share details of the new service’s contribution to volumes or revenues, Aggarwal expects that the mobile segment will contribute upto 5% of the company’s revenues over the next 1 year.

Want to find price of your used phone? Droom plans to offer instant valuation for used devices

Droom already offers instant price discovery for a used vehicle on its website under its valuation service called Orange Book Value

Planning to sell your smartphone? Soon you would be able to find its apt price and list online for sale in real time!

Gurgaon based startup Droom is developing a third party app which when downloaded will determine whether your phone's camera, sensors, screen, Bluetooth buttons are working properly. It will also give an instant valuation range for smartphones within a few seconds through an app.

The app when fired will determine the model, age and brand of the mobile phone in real time. "We plan to license our technology to large horizontal ecommerce players who can then offer it to their buyers and sellers," said company CEO Sandeep Aggarwal tells Moneycontrol on the sidelines of GES 2017.

Droom already offers instant price discovery for a used vehicle on its website under its valuation service called Orange Book Value.

The technology is likely to be an extension of OBV. It will be the first time any company will be offering a service to discover price of a used mobile phone and instantly list on a marketplace platform.

Founded in 2014 by former Shopclues CEO Sandeep Aggarwal, Droom has so far raised close to USD 65 million from investors such as Digital Garage, Beenext, Beenos, Lightbox Ventures and Axis Capital Partners

Droom Announces Winners of B-Plan Competition: IIT-Roorkee Wins Top Laurels

Winning team wins INR 1 lakh as prize money, Droom merchandise, and an opportunity to be mentored by Sandeep Aggarwal

Droom, India’s leading online automobile marketplace today announced the winners of the inaugural season of Droom’s B-plan competition, launched on September 15, 2017. The nationwide business strategy and planning competition saw entries from 269 contestants. An IIT Roorkee team consist of (Rohit Joshi and Renju K Kokkattu) was selected as the winner, post an extensive evaluation process lasting one-and-a-half months. The winners were awarded a cash prize of INR 1 lacs, hand-picked selection of Droom merchandise, pre-placement interview at Droom and mentorship by Mr. Sandeep Aggarwal- Founder & CEO Droom, serial entrepreneur and mentor. The first runner-up prize was jointly shared by IIM Shillong and Great Lakes Institute of Management, Gurgaon. The team IMI, New Delhi, won the second runner up award.

Droom’s B-plan competition challenged the participants to develop various innovative business strategies that could popularize Droom’s C2C marketplace format, wherein individuals will be able to list their vehicles on the platform to be purchased directly by buyers. Drafting the proposal was no mean feat in itself; as the participants were expected to undertake extensive on-ground research as well as create a detailed blueprint of the proposed plan of action, with 35% and 65% marks assigned to each respectively. With the brightest business minds across the country devoting their energies to developing the perfect strategy, the Droom jury evaluated them on their strategic response to actual business situations experienced by the platform.

Commenting on the competition, Mr. Sandeep Aggarwal, Founder and CEO, Droom, said, “Droom B-Plan Competition was designed to provide a much-needed platform to the emerging entrepreneurial talent so they can showcase their capabilities. All the entries were rich in passion, business vision and disruptive strategizing, and it was a tough for the evaluators to shortlist the seven most outstanding entries. Each of the seven shortlisted teams displayed exemplary business acumen and were pitch perfect in their reasoning behind the business plans they proposed. However, it was Team Rockets from IIT Roorkee that emerged as a clear leader due to its holistic approach as well as a detailed and systematic blueprint for policy implementation. We aim to run this competition as an annual series with the objective of engaging with fresh business talent in India.”

The seven finalists included EHFAR, Gladiator Kings, Individual, Panda Bears, Swift & Clear, Team Rockets and The Three Musketeers. The 1st and 2nd runners-up received INR 50,000 and INR 25,000 respectively, along with pre-placement interviews and merchandise from Droom.

Exclusive: Droom founder Sandeep Aggarwal backs content startup WittyFeed

Sandeep Aggarwal, the founder of used car marketplace Droom and e-commerce portal ShopClues, told VCCircle that has invested an undisclosed amount in media content startup WittyFeed.

Besides WittyFeed, Aggarwal also invested in Israel and US-based venture capital fund LionBird Ventures earlier this year.

His investment ticket size in each startup ranges from anywhere between Rs 25 lakh and Rs 1.5 crore.

Aggarwal said he had plans to invest a total of $3 million (Rs 19.5 crore approximately) in 12 Indian startups this year but had refrained due “sluggish market conditions.” He intends to complete his investments soon, although they will spill over to the next calendar year.

He has been investing in companies for the last two years in small amounts. “I had invested in five startups in 2015, followed by seven in 2016.” Aggarwal is interested in startups in healthcare, data science, artificial intelligence sectors, and horizontal and vertical marketplaces.

“While most of my investments will be in India, I am looking to invest in horizontal marketplaces in South East Asia,” Aggarwal, who has till now invested $1.5 million (Rs 10 crore) in two years, said. He also said that the biggest chunk of his investment came in 2016 at $700,000 (Rs 5 crore).

LionBird is an early-stage investor and provides support for startups utilising technology to improve offline processes in healthcare, commerce, and the enterprise segment. The VC firm was founded by Chaim Friedman, who co-founded laboratory informatics company Starlims and sold it to Chicago-based Abbott Laboratories. Aggarwal told VCCircle that the people running LionBird made angel investments in their personal capacities in Droom and Shopclues.

WittyFeed was founded in 2014 by SRM University graduates Vinay Singhal (CEO), Shashank Vaishnav (CTO), and Parveen Singhal (content head).

Will Facebook’s foray into social commerce give OLX and Quikr the jitters?

Facebook, Inc., the world’s biggest social network that boasts 2 billion monthly active users, is testing a ‘Marketplace’ feature for India where users can “buy and sell items with people in their community”.

“This activity started in Facebook groups and has grown substantially. More than 450 million people visit buy and sell groups each month—from families in a local neighbourhood to collectors around the world,” Mary Ku, director of product management, Facebook, had said in a blog post while introducing the service in the US last year.

Though the sale and purchase of gadgets, furniture, vehicles and even real estate have been happening on Facebook groups in India as well, the company now plans to bunch up all such posts and groups under a common tab on the app.

“People in Mumbai can visit Marketplace by tapping on the Marketplace icon inside the Facebook app,” a Facebook spokesperson said.

Given Facebook’s unparalleled reach and legendary stickiness, it might seem that the social network is likely to taste runaway success. After all, Facebook is an inseparable part of the lives of millennials, who account for a chunk of the social network’s core user group. Besides, if the high popularity of some groups, such as the ones that help people find accommodation, is any indicator, it might seem like cracking social commerce will be child’s play for the Menlo Park, California-headquartered company.

However, some homegrown classifieds companies VCCircle spoke to sounded unfazed by the Marketplace initiative—they said it may face several challenges in India as the market dynamics here are different from those in developed countries.

MTV Dropout Gave One of The Best ROI’s for Our Ad Spends,
Ever: Sandeep Aggarwal, Droom

Today, India has blossomed into a country filled with entrepreneurs and ranks as one of the top countries outside the US with the most number of start-ups in the world. Taking cue from the situation, MTV partnered with online automobile marketplace start-up Droom to launch its first edition of the show MTV Dropout to promote this entrepreneurial spirit in India. The results for the first season are out.

Sandeep Aggarwal, Founder and CEO, Droom was the chief mentor to the participants on the show. We spoke to Agarwal to understand his learnings and how the brand Droom benefitted from this association. Excerpts

Q. Why did Droom choose to tie-up with MTV Dropout? How does the brand positioning of both match?

If you think about youth from searching for a boyfriend or girlfriend, or a life partner, taking admission in a university, buying a house, looking for a home loan, buying a vehicle.

Youth is our main audience and they are taking most of their important decisions through the internet. In past, MTV has created shows such as Roadies that have been a sensation with youth. So, when we got to know about Dropout, we found an opportunity to reach them.

Secondly, entrepreneurism is the new in-thing in the country and with some of the internet giants that have become big, youth are keen to become entrepreneurs.

We thought that this genre and theme will work for us. Since we started Droom, we have run 5 national level TV campaigns, two large digital campaigns, and allocated a sizable digital budget, but out of all the money spent, MTV Dropout was one of the best ROI (return on invest) for our spends.

Children’s Day: Uber offers free rides in cars of the 90's
Indian Express
Indian Express | Droom in news
MTV Announces Winners of 1st Edition of Droom MTV Dropout

Ajay Vishnu, Karmadtiya Bagga and Priyansha Jain emerges as the winners of world’s first ever start-up formed on television

After numerous business pitches, multiple presentations, and solving real-world business problems, Ajay Vishnu from Gurgaon, Karmadtiya Bagga from Delhi and Priyansha Jain from Jabalpur emerged as winners in the first season of Droom.in presents MTV Dropout Pvt. Ltd. The trio made history by being a part of the world’s first ever start-up formed on television. Created by Monozygotic and co-developed by MTV and Monozygotic, MTV Dropout Pvt. Ltd. took the viewers through the process of identifying and transforming ‘dropouts’ into the ideal start-up team and kick-starting their entrepreneurial journey. The grand finale aired on MTV on Saturday, November 11 at 7pm.

The journey which began few months ago has finally reached its pinnacle and now the trio, Ajay-Priyansha-Bagga are all set to face the real world and give wings to their entrepreneurial dreams. The awesome threesome has braved 10 other dropouts, excelled grueling challenges featuring the biggest companies - Pepperfry, Kamasutra to name a few, survived being pitted against their own teammates and emerged victorious. They have truly showcased what it takes to be an entrepreneur.

Speaking about the finale of MTV Dropout Pvt. Ltd., Mr. Ferzad Palia, Head, Youth, Music and English Entertainment, Viacom18 said, “The concept of Dropout Pvt. Ltd. was unique and we did expect it to connect with a lot of youngsters out there who dare to dream big. I hope this show acts as a propellant for young minds to take a chance. The winners of the show have shown exceptional growth and we wish them luck for their future endeavors!”

On judging the contestants for the finale, Sandeep Aggarwal, CEO & Founder of Droom said, “It was wonderful to be a part of Droom MTV Dropout as a Mentor. The show had an interesting concept of helping ‘Dropouts’ who wanted to be successful entrepreneurs. The concept is very close to my heart as I have had the experience of dropping out from my comfort zone and starting out on my own to build some of the biggest brands in the ecommerce industry in India. I hope that I have been able to inspire youth to pursue their entrepreneurial dreams and to provide the right mentorship. I would like to wish all the winners the best of luck for their successful future ahead and in my view, people who have not been declared winner or even did not get a chance to participate in the program are still my heroes. I hope to continue with my passion to mentor youngsters and inspire more to realise their start-up dream”

“Priyansha, Bagga and I, each of us possesses a unique set of talent which together, makes our team a winner. Besides, We also share a great chemistry with each other, which makes work, a lot more fun. MTV has given us the platform to catapult our start-up dreams and we will surely not disappoint the people who have supported us”, shared CEO of the new start-up, Ajay Vishnu.

On being announced winners of the first season of Dropout Pvt. Ltd., an excited Priyansha Jain shared, “This definitely feels awesome! Dropout Pvt. Ltd. is a unique and one of a kind show and to be crowned the winners of the first season is simply unbelievable. Coming so far in the competition was definitely challenging with 13 different entrepreneurial personalities on the show. All hard work and struggle seems worth now!”

Karmaditya Bagga added, “The best moment of my life was when I grabbed those keys which Rajeev Sir threw towards us. It was like I have grabbed my entire dream in my fist. It was the best feeling in the world!”

From dreaming big to making it big, these aspiring entrepreneurs have come a long way long way through the guidance provided to them by their mentors and top guns in the industry. Here’s wishing these dropouts good luck as they kickstart their exciting and rewarding entrepreneurial journey!

Masks to monitoring indoor air, companies walk the talk

GURUGRAM: As pollution levels in NCR get worse, corporate organisations are taking preventive measures to help employees cut down exposure to smog and ensure their health doesn't suffer.

Organisations like Samsung, GSK, Paytm, MakeMyTrip.com, Uber, Nagarro, Droom and Shopclues, have taken several measures to help their workforce tackle pollution. South Korean multinational Samsung has installed over 100 air purifiers in their Indian headquarters in Gurgaon.

Next door to Samsung, fast-moving consumer goods (FMCG) giant GSK is also taking several steps to help its employees avoid exposure to pollution. "The administration and employee health and safety departments are issuing regular health and travel advisories. The air quality is being monitored on a daily basis and the PM2.5 level is expected to be below 50 inside the office," said a GSK spokersperson.

Gurgaon-based Shopclues and Nagarro are continuously updating employees about the air quality levels. Multiple other organisations have installed air filters in offices. Noida-based Paytm is one such organisation.

"Realising that the pollution in Delhi NCR is a public health emergency, we are taking necessary measures to improve the air quality in our offices by getting air purifiers and more plants," said Manav Jain, assisstant vice-president, Human Resources, Paytm.

He added that since polluted air could trigger coughs, the company had distributed masks among its employees and was offering health assistance to employees. Multiple organisations are also distributing air purifying masks to their employees and advising them to use these outdoors.

"We have distributed high-quality N95 anti-pollutions masks to all our employees. We have also installed air purifiers on all office floors. Additionally, we are conducting training programmes for employee awareness and have rolled out a guide to educate our employees on how to stay safe in such conditions," said Sandeep Agarwal, founder and CEO, Droom.

Motown sales recover from note ban-induced slowdown

Slowly but surely, the automobile industry that swerved off the growth track when demonetization hit, is shifting back into the fast lane.

The industry was hurt as a significant number of sales, especially in semi-urban and rural areas, was dependent on cash.

According to Sridhar V, partner, Grant Thornton India, the growth of passenger vehicles (PV) as a segment was clearly affected for the initial couple of months post demonetization, but the note ban had a minimal impact over the rest of the last one year.

The industry has consistently sold more than it did in the months of November and December 2016, with sales peaking at 300 thousand vehicles in September 2017, he added.

Three months after the government demonetised high-value currency notes, Rajiv Bajaj, MD of one of the leading two- and three-wheeler manufacturers Bajaj Motors, had said during a press meeting that the move had hurt the industry.

Around 2,200 people employed with the 81 component suppliers with which his company sources material were said to have lost their job due to the sudden loss in demand.

Are Indian Start-ups Creating Problems that Don't Exist?

There are start-ups that find a solution where one is not needed or are way ahead of their time and thus, fail to find users

There was a time when entrepreneurs were found in scarcity, they had a story to tell about the struggle, of their family’s disbelief and disapproval of the start-up life. Cut to 2017 and entrepreneurs are found aplenty, some disrupting the sector in which they are operating while some others, well, are finding a problem that doesn’t exist.

Entrepreneurship has moved from being the geek that no one likes to be the guitar-playing heartthrob of the college. Everyone wants to be him or be with him. But this is also where the problem arises, in their efforts to copy the guitar king; their tuning seems to fall apart, as it is not based on the passion for music but a me-too attitude. What next? They sell the guitar in scrap and go back to being the regular kid in college.

2017, So Far

The past few years have seen the birth of many start-ups in the Indian ecosystem. While the count was at a staggering 6,000 in 2016, 2017 so far has seen 800 new kids on the block, according to Tracxn. According to their reports, while 500 startups made it to their deadpool list (failed ventures) in 2016, the number stands at 180 for 2017, so far. At the same time, Indian start-ups have raised over $8 billion in 2017 and when pitted against 2016’s $4.6 billion, the number is at a high even though the number of deals has dropped.

Any Takers?

This goes on to prove that India is building a conducive environment for start-ups, funding has almost become omnipresent and like Amitabh Kant, CEO, Niti Aayog, has been quoted saying, “All we are looking for are great innovative ideas”.

Needless to say that the Indian start-up ecosystem has seen the birth of some great ideas but there are also some that fail to be of anyone’s understanding. A case to keep in mind is the startup Mokshshil.com that allows one to pre-book their funeral service. The founding of these start-ups has raised many questions; from who really is prepared for death to do we have to depend on technology for even death?

Some of them might even find the funding but customers fail to use their product. A global example is the Valley-based Juicero, which raised $120mn from investors for its $400 juicer blender, has failed to find a market and is thus, shutting down.

In India, a sector that has fallen prey to this is e-commerce. From start-ups like Bookmybindi or Footsy (online marketplace for just socks) to Bookmyballoon, the e-retail sector has seen the rise of many that fail to convince users. Sadashiva NT, angel investor and formerly with Babajob, believes that it is the vertical space of e-commerce that has found takers which might not be successful. Horizontal e-commerce platforms are the ones that enable selling from a varied range of categories while vertical platforms are the ones that are more in-depth or focussed. “The problem with many players in the vertical space is that they are selling products already available from the horizontal players. The horizontal e-commerce sector already has a few major players like Flipkart, Amazon etc,” said Sadashiva.

Here is what you need to know before buying a flood damaged car

Planning to buy a used car? Make sure you inspect it thoroughly. Just a test drive will not be enough. The reason is lakhs of cars have been damaged by unprecedented rain and flooding around the country and chances are these vehicles are in the market to be sold to unsuspecting buyers.

Says Abhishek Gautam, COO Auctions of car portal operator GirnarSoft: “The probability of flood damaged cars hitting the market is very high. We expect almost 80% of these cars to be resold in the used cars market.” According to Director of car service provider CarXpert Y.S. Katoch, there are a large number of flood-damaged cars in the market. Most have been repaired as that is covered by insurance.

As water damage can be irreversible and extensive, inspect a car carefully before you buy. Sandeep Aggarwal, Founder & CEO, Droom.in, an online marketplace for buying and selling new and used automobiles, says, “The issue is not knowing a car is flooddamaged and paying a high price to buy it.”

  • Signs that a car is flood damaged
  • Foul smell from carpet and seat cover.
  • Rusting on exposed screws under the dashboard, door latches, hood latches and seat rail channel.
  • Mud/silt deposit on wiring.
  • Signs of mud/silt deposit and rusting on the fuse box cover, centre console panel, gear lever panel and door beadings.
  • Water line around the engine.

One of the best ways to avoid being saddled with a damaged vehicle is to buy from only organised players. Says Gautam, “Buy only certified used cars preferably with a warranty for 6-12 months.” A red flag is a car that is advertised in newspapers as distress sale. Also avoid buying used cars from unorganised dealers as they generally don’t follow any quality checks.

Check the insurance policy. Contact the insurer to find out if any major claims have been made. Vikram Chopra, CEO of used car portal cars24, adds, “Ask for the service history of the car and read thoroughly. A flooded car would have been sent for servicing. Workshops gives a record of all the work done on the job card.”

Another way of evaluating used cars is by using History available on https://vehiclehistory.in/ . It is a national repository of vehicle records, with a database of approximately 20 crore vehicles. It can tell a prospective buyer how many times a vehicle has changed hands, if there is any history of accident claim, if it is a flood damaged car or the ownership is disputed. To generate a report, a user needs to enter the vehicle’s VIN or registration number. If the vehicle.

Used cars sales in top gear

Chennai: This Diwali the used car market clocked top gear sales with online platforms seeing anything between 50-100% growth.

Popular online platforms like Droom, CARS24, QuikrCars and Truebil have seen sharp sales spike in the range of 2x to 5x growth with even luxury used cars gaining traction. "The pre-Diwali to dhanteras period has seen a healthy spike of 30-50% for a period of 4 weeks. We have grown stronger than last year by 2x margin and on an industry level too, the jump in growth has been consistent," said Vikram Chopra, CEO, CARS24. Big online platforms like Droom, for example, have grown 5x this festive year (September 21-October 20, 2017) as compared to previous year (entire October 2016) with sales more skewed towards four wheelers than two wheelers. "Our gross merchandise value has doubled last month to this due to the festive rush and the average sale price has also jumped as more cars were sold than two-wheelers. Last year 33% of overall sales was cars which has now jumped to 55%," said Puneet Bhaskar, AVP, Droom.

Pent up demand has contributed to rising sales. "In the month of October, MoM growth has seen an uptick as people deferred buying decisions because of GST. This demand cumulated in the festive month of October," said Shubh Bansal, co-founder & CMO, Truebil. The launch rush in new cars help correct prices in used car market, he added. "With so many new launches in new car segment, the prices of used cars of the same model have decreased," said Bansal. For example, an old model used Swift Dzire price has dropped by 5-10% as new Swift Dzire has huge demand, he said.

Discounts in new cars helped supply and fuelled demand. "Heavy discounts offered by car companies made people sell their old cars to acquire new ones. This is evident from the 20% MoM increase in the inventory on QuikrCars since August. Top models sold on QuikrCars are easy to drive hatchbacks like i10, WagonR, Swift, Alto. Luxury cars demand also spiked up during festive season," said Atul Tewari, COO, Quikr and head, QuikrCars.

The extent of festive rush for pre-owned cars becomes obvious from the fact that even financiers have clocked good disbursals.

"The used car loan segment grew at 75% month over month and the overall customer sentiment was very positive," said Aditya Kumar, founder & CEO of Qbera.com.

Have Allocated Rs 225 Cr Towards Marketing And Advertising During Current Financial Year: Sandeep Aggarwal, CEO & Founder, Droom

As Droom allocates a sizeable budget for marketing and advertising this financial year, we spoke with Sandeep Aggarwal, Founder and CEO, on Droom's USP, expansion plans and differentiating marketing points.

Droom is in a fiercely competitive place. What according to you is your USP?
Droom is steadily gaining a lot of positive traction which has not only enriched the industry, but also provided the buyers with a lot of options. Droom has established itself as a renowned player in its domain with a clear edge over its competitors by being a comprehensive online automobile transactional platform rather than just being an informative one. Droom offers an end-to-end transactional platform along with various ecosystem services tools such as ‘Orange Book Value’ (OBV)- pricing engine for assessment of a fair market value in 10 seconds, ‘History’ for sourcing vehicle history records, ‘Eco’ for vehicle inspection, ‘Droom Discovery’ that offers dozens of pre-buying tools and ‘Droom Credit’- India’s first and only marketplace for used vehicles loans. Droom thus becomes a one-stop destination for conducting transactions on pre-used automobiles via the digital mode, ensuring greater transparency and authority to the consumer. Furthermore, Droom has presence in more than 500 cities in India and has over 192,000 auto dealers onboard which gives Droom a clear edge over competition in its domain.

How well is this market growing?
The used car automobile transactional sector is growing at a rapid pace. So much so, that for every new vehicle transacted in the market, 1.7 old vehicles are also being sold. Furthermore, the arrival of online marketplaces has ensured transparency in the valuation process. With the salaried middle-class demography burgeoning in India, it can be safely said that the pre-owned automobile market will be in high demand in the future, contributing to the rapid growth of the sector.

What is the marketing strategy for Droom?
Droom has adopted an aggressive marketing approach this year. We have allocated a budget of Rs 225 crore towards marketing and advertising during the current financial year. We aim to launch specific commercials describing Droom’s various offerings and adopt an omni-channel marketing strategy covering both ATL and BTL platforms. Through characters such as Bittuji, we want to reflect the impact of Droom’s assortment of products and services on the quintessential user, who earlier found it difficult to find a vehicle that fits her/his needs and budget but with Droom, can finally manage to own their dream wheel at the best possible prices. Additionally, Droom is focused on mentoring the youth and helping budding entrepreneurs. I have been committed to mentoring and guiding the youth to become successful entrepreneurs. Droom has partnered with ‘MTV Dropout’ as the ‘Title Sponsor’. The show aims to provide a platform for dropouts to make their startup dreams a reality. I am one of the Masters in the show. MTV Dropout is a one of its kind show that documents the journey of the world’s first-ever startup formed on television

What are your marketing plans going ahead?
We have recently launched super successful TVCs that explain the use and importance of our ecosystem services tools such as History, Droom Eco and Orange Book Value. We also plan to extensively expand our network across Tier-II and III cities in the country which are rapidly emerging as high revenue potential markets. Droom, with its scientific algorithms and unique approach to value determination of used cars, has created a position of influence in the market. Through these marketing efforts, we want to further create awareness for the Droom as a brand that provides the most unparalleled experience during purchase or selling of pre-owned vehicles.

Since the company is an online only platform, what according to you are the elements that differentiate you in the way you market yourself compared to some others who have a physical presence ?
Droom is an end-to-end transactional marketplace. No other offline or online portal provides such a comprehensive list of services, from pre-purchase information gathering to comparison and post-purchase maintenance. Droom’s ingenious and never-before-seen ecosystem service tools provide answers to most of the possible queries of buyers. These tools ensure total transparency and provide the most accurate valuations by employing large amount of relevant historical and empirical data.
Furthermore, our massive presence across 500+ cities ensures our presence as the largest hyperlocal market. Our dealer network spans across 192k auto dealers on board, making us the biggest auto dealer portal in India. Our rapid GMV expansion from 0 to 4k in less than three years also keeps us ahead of competition.

Bittuji Ki Beemer has been recognised as one of the most watched Top 10 Ads on the YouTube Ads Leaderboard Q3 – 2017 in India

The list represents the top 10 ads on YouTube, which has clocked around 3.5 million hours of watch time. Mobile devices accounted to 69 per cent of total watch time. Oppo’s new six-and-a-half minute ad for F3 device garnered nearly 30 lakh views in 20 days

YouTube released the Q3’17 India Ads Leaderboard, a list of the top ads that Indian audiences consumed the most during the third quarter of the year. These 10 ads clocked an astounding 3.5 million hours of watch time, with mobile devices accounting to 69 per cent of total watch time. As per App Annie*, every month, 180 million Indians are watching YouTube on the mobile.

Long format ads have emerged as the winning formula for Indian viewers this quarter. Five out of the 10 most-watched ads in the quarter were over one-minute long. This clearly points to audiences’ willingness to invest their time and attention on ads that are narrative-driven – Xiaomi, Oppo, Panasonic, Droom and MuscleBlaze all capitalised on this. Oppo and Panasonic also played up on the Diwali mood. Anticipating consumer demand for electronic gadgets during this festive season, Oppo’s new six-and-a-half minute ad for F3 device garnered close to 30 lakh views in around 20 days.

The YouTube Ads Leaderboards showcases the most creative ads that people choose to watch. The list represents the top 10 ads on YouTube in India that resonated most with audiences over the past month and celebrates the brands that performed best through a combination of popularity and promotion.

Droom to raise $50 million by 2018; plans IPO by mid-2019

Droom will also strengthen its ecosystem services like Droom credit, Orange Book Value, Eco, History and recently launched Discovery

NEW DELHI: Online automobile e-commerce platform Droom is planning to raise a sum of $50 million in its sixth round of funding by 2018.

With this, the company will also strengthen its ecosystem services like Droom credit, Orange Book Value (OBV), Eco, History and recently launched Discovery.

Moreover, the company is eyeing an initial public offering (IPO) by mid-2019.

Sandeep Aggarwal, Founder & CEO, said: “We would be going for the next round of funding by 2018 for $50 million. So that we can operate our ecosystems services like Credit, OBV, Eco, History and Discovery as an individual company. To further strengthen them, we would like to invest in the individual platform."

Aggarwal is optimistic that Droom will turn profitable by the second half of 2018, if no further investment is made in the company.

"Theoretically, we don’t need capital to turn profitable,” commented Aggarwal. He further added, the reason for the optimism is the fact that we spend less than 4 per cent of Gross Merchandise Value (GMV) on marketing and even less than 3 per cent on operating cost of the company. So we will have to just recover less than 3 per cent to turn profitable. Unlike other e-commerce platforms, which burn around 12-15 per cent on operating cost.”

The 34-month-old company has grown over 300 per cent in past one year with GMV of Rs 4,000 crore. It is likely to touch Rs 5,000-5,500 crore GMV business by December this year.

Aggarwal vouches that out of the total online business of used car sales and allied industries, Droom approximately do 65 per cent of the business and rest 35 per cent is done by other players.

The company till now has raised $65 million, including the fifth round of $20 million, which was majorly led by Integrated Asset Management, Digital Garage and Lightbox.

Droom launches 'Droom Discovery' for pre-buying research, discovery tools

New Delhi [India], Oct 5 (ANI): India's largest and pioneering online automobile transactional marketplace Droom on Thursday announced launch of Droom Discovery, which is India's largest collection of vehicle pre-buying research and discovery tools.

By collating and presenting in-depth and comprehensive data about various aspects pertaining to various two-wheeler and four-wheeler vehicles, Droom Discovery plugs the information gap and helps prospective vehicle buyers make smartest buying decisions.

All relevant information can be accessed by users with just a few clicks to conduct a thorough research on their favorite vehicles. This convenient accessibility to all the key data helps buyers at all stages of vehicle purchase.

"The entire idea is to make the process of buying, selling, and discovering vehicles simpler, more convenient, and hassle-free for the end-user. This is why we have launched Droom Discovery, a one-stop platform which will make vehicle discovery and comparison almost effortless for Indian buyers," said founder and CEO Droom, Sandeep Aggarwal.

Adding to this, Aggarwal said that Droom is empowering costumers with Independent, comprehensive, data driven and free information to aid them in making the smartest buying decisions.

The platform will offer more than two dozen tools to users under three categories of tools - Product, Category, and Industry. It provides information about the current price (ex-showroom and on road, for various cities), total cost of ownership, performance, fuel efficiency, etc.

It additionally helps in pricing research and displays ratings, reviews, and photo/videos of particular vehicle makes. Droom Discovery also lets users compare two or more vehicles side-by-side for features, prices, and specifications through the Vehicle Compare feature, and helps them in their budgeting assessments with EMI and Affordability Calculators. Moreover, it provides smart recommendations for buying used/new vehicles from Droom to match the specific requirements of every buyer.

However, it will also provide category-wise news and updates on the latest developments from the auto industry, as well as tips for vehicle maintenance, emergencies, DIY servicing for basic components etc. Other important information, such as the location of driving schools in a user's vicinity and glossary of commonly used automotive terms, is also available for users to access, making Droom Discovery the perfect vehicle buying assistant for all vehicle buyers! (ANI)

Droom launches 'Droom Discovery' for pre-buying research, discovery tools

India's largest and pioneering online automobile transactional marketplace Droom on Thursday announced launch of Droom Discovery, which is India's largest collection of vehicle pre-buying research and discovery tools.

By collating and presenting in-depth and comprehensive data about various aspects pertaining to various two-wheeler and four-wheeler vehicles, Droom Discovery plugs the information gap and helps prospective vehicle buyers make smartest buying decisions.

All relevant information can be accessed by users with just a few clicks to conduct a thorough research on their favorite vehicles. This convenient accessibility to all the key data helps buyers at all stages of vehicle purchase.

"The entire idea is to make the process of buying, selling, and discovering vehicles simpler, more convenient, and hassle-free for the end-user. This is why we have launched Droom Discovery, a one-stop platform which will make vehicle discovery and comparison almost effortless for Indian buyers," said founder and CEO Droom, Sandeep Aggarwal.

"The entire idea is to make the process of buying, selling, and discovering vehicles simpler, more convenient, and hassle-free for the end-user. This is why we have launched Droom Discovery, a one-stop platform which will make vehicle discovery and comparison almost effortless for Indian buyers," said founder and CEO Droom, Sandeep Aggarwal.

The platform will offer more than two dozen tools to users under three categories of tools - Product, Category, and Industry. It provides information about the current price (ex-showroom and on road, for various cities), total cost of ownership, performance, fuel efficiency, etc.

It additionally helps in pricing research and displays ratings, reviews, and photo/videos of particular vehicle makes. Droom Discovery also lets users compare two or more vehicles side-by-side for features, prices, and specifications through the Vehicle Compare feature, and helps them in their budgeting assessments with EMI and Affordability Calculators. Moreover, it provides smart recommendations for buying used/new vehicles from Droom to match the specific requirements of every buyer.

However, it will also provide category-wise news and updates on the latest developments from the auto industry, as well as tips for vehicle maintenance, emergencies, DIY servicing for basic components etc.

Dainik Bhaskar
Dainik Bhaskar | Droom in news
Rashtriya Sahara
Rashtriya Sahara | Droom in news
Droom emerges largest online play for auto vertical

India's largest and pioneering online automobile transactional platform Droom has established its firm foothold as India's largest play for automobiles online and the third largest e-commerce company.

The platform has captured the imagination of vehicle buyers with a simple and intuitive marketplace along with ecosystem services tools. Its efficient operational model has also helped Droom become the largest vertical marketplace and the largest hyperlocal marketplace. This troika of accolades has guaranteed Droom its undisputed stature as India's #1 and largest auto portal.

With a massive presence spanning 500+ cities, Droom has emerged as the default alternative for buyers and sellers across India interested in used as well as new automobile transactions. It has achieved an annualized GMV of 3,756 crores with a monthly traffic of 31.2 Mil+ visitors. It has also registered a stunning growth rate of 225 percent Y-o-Y, and aims to achieve a GMV of 7500 crores and full profitability by 2018.

"From being fifth in the list of the largest e-commerce companies in India last year, Droom's rapid growth to becoming the third shows the tremendous popularity it continues to gain amongst users. The achievement becomes all the more special as Droom is a core automobile oriented portal, thereby restricting its user base," said founder and CEO Droom, Sandeep Aggarwal.

"Our advanced algorithms, never heard before ecosystem services tools and a strong backend team are the main reasons behind our continued success. Going forward, we want to keep increasing transparency and best pricing as the driving forces behind our future operations to achieve further success," added Aggarwal.

Droom's achievements have been achieved without compromising on the needs of any of the stakeholders, which makes it all the more remarkable.

Due to the unique ecosystem services tools based on pure algorithm and science and unbiased, the prices arrived at are equivocally agreed upon by buyers and sellers. With an aggressive marketing strategy and continued research to develop more precise and unique services tools, Droom hopes to bag that elusive #1 e-commerce organization spot soon.

Find out how 'Bittuji ban gya dreamer' in Droom's latest ad campaign

Droom is offering the chance to win prize money and mentorship from its founder with the Droom B-Plan competition

Looking to capture the C2C segment further, Droom is inviting applications with suggestions on achieving this goal.

In order to enhance the C2C part of their business, Droom is inviting applications, to inspire budding minds, with the challenge of suggesting various extraneous steps to achieve the objective. The Droom B-Plan competition will identify the brightest business minds from across the country on the basis of their strategic response to actual business situations experienced by Droom.

The entries for Droom B-Plan competition are now open and the winners will be awarded with a cash prize of INR 1 lakh, along with a mentorship session with Sandeep Aggarwal and a pre-placement interview with Droom.

In addition to C2C, the online automobile transactional platform also functions in B2C, C2B and B2B marketplace formats. However, the company is now looking to push the C2C side of business where individual sellers can list their vehicles on the platform which enables individual buyers to make purchases directly. Looking to capture the segment further, Droom is inviting applications with suggestions on achieving this goal.

Applicants will be required to submit their plans in the form of a presentation which will need to include research on products, consumers and competitors. The proposals will also require description of features and functionality of the concept on websites and apps, advertising strategy, customer acquisition plan, partnership plan, and more.

Gauging and improving upon gaps in the C2C platform of Droom was also included in Droom MTV Dropout. Talking about the competition, Sandeep Aggarwal, Founder and CEO, Droom said, “We hope that Droom B-Plan participants will offer some truly innovative, long-term and optimally efficient solutions to kick-start their professional journeys along with a chance to win the amazing prizes!”

Entries close on October 25 and the winners are to be announced on November 1, 2017. In addition to Sandeep Aggarwal himself, the competition will also be judged by top management of Droom. The first and the second runners-up will also get an opportunity for an interview, along with a cash prize of INR 50,000 and INR 25,000 respectively. For those who have been wanting to work in the environment of a startup and receive mentorship opportunities, this could be a great opportunity – if they have the right plans.

Find out how 'Bittuji ban gya dreamer' in Droom's latest ad campaign

The campaign was created by the Delhi branch of Contract Advertising

Dreams and wheels-two words that have been, over the years, frequently associated with each other, and for valid reasons.

We spend hours thinking about our dream cars, sighing over Google images or magazine cut-outs and visualizing ourselves on the steering, feeling like the king of the world. But then reality takes over. Droom’s latest and out of the box campaign, featuring a similar such dreamer called ‘Bittuji’ through a music video, reflects the aspirations of many of us through him, and explains how Droom can help in making those dreams, true.

Commenting on the campaign, Sandeep Aggarwal, founder and CEO, Droom said, “Droom’s ecosystem services tools have been gathering a massive response from users and we feel it’s time for us to market these services to mass audience and make them aware about these unbeatable ecosystem services tools. Droom’s services have been a revelation in the automobile transaction domain and have enabled thousands of users to own their dream vehicle at a price that brings a big smile on their faces. Bittuji for us is our quintessential user, and like in the campaign, through Droom’s ecosystem services, we want to ensure that every user gets the key to their dream wheels.”

The campaign was created by the Delhi branch of Contract Advertising. Elaborating on the vision of the campaign, Mayur Hola, EVP and executive creative director, Contract Delhi, said, “The purpose of this project is to demonstrate the various ecosystem services Droom offers to buyers and sellers of second hand vehicles. We have positioned Droom as an enabler of automobile dreams. It could be a car that you saw in a movie when you were all of 8 years old or your first bike or a second car for your daughter to go to work in… Droom via its services makes all of this a breeze. So Bittuji the dreamer was born for this ‘demo exercise’. We are really proud of the end product which is super entertaining and indeed demonstrates the services of Droom perfectly.”

Droom with a viewfinder

An entrepreneur whose eye for the eclectic and interesting has taken him places, Sandeep Aggarwal is quite the connoisseur.

A midnight in April, Sandeep Aggarwal was at his home in Gurgaon, lying on a couch. Four hours later, he was chilling in the Maldives. For an entrepreneur who has taken to the Internet with his two popular websites, these indulgences are all in a day’s work. So, sometimes, Sandeep takes his best mate on a vacation to play golf overseas. Or sits in the lap of luxury in his brand new 9,000 sq ft penthouse, whose large chambers stock vintage from Napa Valley, a swanky home theatre with a cutting edge projector system and sound engineering. The founder and CEO of Droom and co-founder of a shopping site has diverse passions to help him stay cool-headed under the demanding hat of an entrepreneur.

Impromptu backpacking, music, sports and drinks, this biz honcho’s schedule packs in a whole lot of fun after the hardwork. With 15 years in San Francisco under his belt, his affinity to wine and vineyards only evolved and matured into a full-fledged hobby. “Napa Valley is one of the largest producers of wine. My fascination for wine started in 2001, the first time I visited Napa Valley. People there are so fond of wine. I got to watch how wine was produced, fermented, the different types of grapes, why one wine differs from another, how to shake the glass and take in the bouquet, and so much more. I have a huge collection of single malt scotch and wine. My new penthouse has a large bar, and a dual zone large wine chiller. To keep so much of liquor, I need a separate license from the government,” he smiles wryly.

A sportsman since childhood, Chandigarh-born Aggarwal grew up playing cricket and badminton. To pursue an MBA in strategy, he went all the way to the Olin Business School at Washington University in St. Louis — and that is when he realised much to his chagrin that the bat and ball games he was used to back home were not a fad in Europe. Inside the squash courts at the university, he mastered Squash. Later, Golf also became a passion.

“In the 12 years of golf, from 2001 to 2013, my game was at best average or below average. I struggled a lot. Golf is a game where you compete with yourself. In 2014, when I was between my two ventures in San Francisco, I hired a PGA rank holder, and spent four to six hours per day playing. I got damn crazy about the sport and my golf improved substantially,” he explains.

The sudden tours are Aggarwal’s quick escape from the maddening hours at work — 17 to 19 hours a day. “If I do not go on a tour, I’d die. When I feel burnt out, I disappear from office for two-three days,” he says, adding about his love of music, “In San Francisco, we hosted a New Year party with 60-100 guests. I was the informal DJ, playing non-stop music for eight to 10 hours — a mix of Hindi, English, Bhangra, Punjabi, etc. I am passionate about music and have a collection ranging from the very lightest Bluetooth to heavy high-end musical instruments,” he explains.

The Asian Age
The Asian Age | Droom in news
Economics Times
Business Standard | Droom in news
My First Job: Sandeep Aggarwal, CEO & Founder, Droom

Job experiences teach you many things beyond polishing your skill-sets. These learnings tend to be your guidelines for the coming times in personal and professional life.

The 'My First Job' captures this essence from the industry leaders. Here is an account from Sandeep Aggarwal, CEO & Founder, Droom:

'My First Job' was:

Technically, my first job was at Kotak Mahindra, Mumbai in 1995. I was pursuing my masters at that point of time and simultaneously, did an internship in Kotak Mahindra, Mumbai, Nariman Point. I was very nervous and excited as it was my first experience of a big city like Mumbai. I was surrounded by talented and intelligent people graduating from the top schools with the highest honors. I learnt a lot from them, made many good friends, and spent an exciting few years there.

Things I learnt:

Of the many lessons that I have learnt is that, founders need to be strongly motivated by a cause, as opposed to those driven by quick money, have the vision to identify an addressable opportunity and the clarity of purpose for optimum thematic leverage. Another management lesson that has always worked for me is make what you can sell v/s sell what you can make.

Skills I Acquired:

The basic skill that I learnt was how to conduct myself in a professional environment. Coming from an academic institution, you are bursting with ideas and energy but the grind of the professional workspace allows you to channelise the energy in the right direction. I also understood the meaning and developed the skill of networking and relationship management, two very important virtues to have in the modern business ecosphere. Furthermore, the stint also gave me ample exposure to strengthen my strategic thinking, conceptualisation and analytical skills.

My manager's teaching:

I was very fortunate to work in a department of Kotak Mahindra where the managers taught me a lot. They were very straightforward in their opinions and placed a lot of emphasis on hard work, energy, passion and acquired merit, which are values that I still cherish and look for in a colleague.

Turning point in my career:

Well my life has been a series of learning curves with a lot of turning points. Post my B.Com, I followed in the footsteps of my elder brother who was pursuing chartered accountancy. I realised soon however that I did not like it and even after doing an articleship and went for masters in Indore. After Indore, I again came back to my home city and worked in investment banking for a while. Then at an important juncture in my life, I realised I wanted to be in USA, so I went there for my MBA and worked there with two different companies. Post that I decided to join Wallstreet, where I spent the next eight years of my life as one of the best internet analysts out there. I then decided to pursue my entrepreneurial journey and founded ShopClues in my home in California. From ShopClues, I moved on to my next project Droom, which occupies the most of my time and efforts nowadays. So, I have witnessed at least 6 or 8 critical points in my career and each one made me more mature, well-equipped to handle pressure, and much more pragmatic. All of them prepared me so that I could experience lot of new challenges.

My most crucial step/assignment:

I treated every new assignment as extremely crucial as they were significantly different from the previous one. I had to start from the scratch and be completely attentive towards the needs and demands of the current task. However, if I had to choose one, I would say moving on from ShopClues both physically and emotionally after investing in it so much was a crucial step. Furthermore, I had to focus on Droom, without looking back and being still attached to ShopClues, which I believe was arguably the most difficult situation I faced in my career.

My Advice:

My advice to budding entrepreneurs or in general youngsters will be to follow their passion and what you will enjoy doing day in and day out. If you care about what you do, then you will definitely enjoy the experience every day. You know, if you love what you do, it's no longer a job and so I would say that biggest advise I can give anyone is follow your passion and dreams. I might have different ventures to show for my accolades, but fundamentally I am a tech entrepreneur and I enjoy being that immensely.

Where I see myself 5 years from here:

I established ShopClues in 2011, Droom in 2014 and 5 years from now, I might be investing or incepting something else. All of them will definitely come under the purview and ambit of my being a tech entrepreneur, which is what I look forward to being.

Exclusive: Droom founder Sandeep Aggarwal backs VC firm Lionbird Ventures

Sandeep Aggarwal, who founded e-commerce company ShopClues and used automobiles marketplace Droom, has invested in Tel Aviv- and Chicago-based venture capital firm Lionbird Ventures, the entrepreneur and investor told VCCircle.

“The firm is run by people who made the first angel investment in their personal capacities in both Droom and ShopClues. I’ve known them for the past ten years now,” Aggarwal said.

Lionbird Ventures was founded by Chaim Friedman, who co-founded laboratory informatics company Starlims and sold it to Chicago-based Abbott Laboratories.

Aggarwal also added that he would be investing as a limited partner in a couple of more venture capital firms in the coming months.

It could not be immediately ascertained if this was the first close of the fund and whether the fund has made any investments. Email queries sent to Friedman did not elicit a response at the time of writing this report.

Aggarwal established ShopClues in 2011 and later launched Droom in 2014 and has been a startup investor since 2003. In 2016, he invested $500,000 in seven early-stage firms in India and overseas such as Dekoruma, Wydr, Shopsity, Data Guise, Give Club, Duriana and Curo Healthcare. Besides India, Aggarwal plans to look at Southeast Asia for startup investments.

He has also set up his family office, called Digital Route, to make all his future investments in early-stage ventures. The investments are made through his personal wealth, which he earned from his career abroad as an investment professional.

“The market had been very precarious last year, so I spent less time making angel investments. But we are still on track to spending $3 million in a dozen companies in the next year as the market improves,” Aggarwal said.

In an earlier interaction with VCCircle, Aggarwal said that he would be investing in consumer Internet companies with a focus on healthcare, retail and fintech besides enterprise tech and data science.

Many leading Indian tech startup founders such as Flipkart’s Sachin Bansal and Binny Bansal, Snapdeal’s Kunal Bahl, Paytm’s Vijay Shekhar Sharma, InMobi’s Naveen Tewari and FreeCharge’s Kunal Shah have been prolific angel investors backing and mentoring dozens of startups besides running their own ventures.

TALKING POINT: INDUSTRY TRACKER

Sandeep Aggarwal of Droom talks about his association with MTV for a reality show. Vivek Srivastava of Times Network talks about the rebranding of English Movie Channel Movies Now 2 to MNX. Siddharth Biswas of Dainik Jagran Inext talks about its nationwide B2B umbrella campaign, Hindia

DRIVING ENTREPRENEURSHIP WITH REALITY TV

Sandeep Aggarwal, Founder & CEO of Droom.in, makes his first reality TV appearance on MTV’s Dropout Pvt Ltd. Droom.in is the title sponsor of the show, aimed at identifying future entrepreneurs and enabling them to kick-start their business journey. As one of the mentors on the show, Aggarwal talks about his passion for entrepreneurship and India being on the brink of an entrepreneurial revolution.

The Reality TV Experience

This show has been a different and new experience. I have been lucky to have my cake and eat it too! I am passionate about entrepreneurism and this country is going through an entrepreneurial revolution with the booming start-up culture. The biggest take-away from the show has been meeting entrepreneurs from diverse backgrounds who dared to challenge the status quo in their lives.

The Brand Connection

MTV had initially approached me to a mentor on the programme. However, the show’s youth focus was a perfect brand fit for Droom. Going forward, our sizable ad budge of Rs 225 crore will ensure that we have the scope to explore many more interesting partnerships like these. We have a lot of things in the pipeline that we will announce shortly!

WE WANT MNX TO GIVE TOUGH COMPETITION TO THE TOP THREE BRANDS IN ENGLISH MOVIE SPACE: VIVEK SRIVASTAVA

Times Network has rebranded its year-old English Movie Channel Movies Now 2 to MNX. Vivek Srivastava, Executive Vice President & Head Entertainment Cluster, Times Network tells us more

Rebranding MN2 to MNX

The channel has taken off well and we invested in content to make the proposition stronger. The positioning and communication from a content standpoint was working well but unfortunately the name was lending itself to the mother brand, Movies Now which is a mass brand. We want MNX to be new age, edgy. Therefore, we decided to give the channel its own identity and there’s no better time to do it than when the numbers are ramping up, and we have strong content to take this viewership forward.

The Numbers

From an ad sales perspective, English movies genre is around Rs 600-700 crore and in terms of TVTs, it is about 15,000- 16,000 TVTs. At this point, we have 30% of the viewership of the overall English entertainment space. Our aim would be to get to one third of the revenue pie as well.

MNX: One Year On

Since mid-February, we have consistently been above HBO and are among the top four channels. We would love to see MNX in the top slot. We want MNX to give tough competition to the top three brands - Star Movies and Sony Pix and also Movies Now.

INEXT PROMISES BETTER ROI WITH HINDIA CAMPAIGN

Dainik Jagran’s Inext is running a nationwide B2B umbrella campaign, Hindia that is generating much curiosity with its unique title reflecting its bi-lingual content. Siddharth Biswas, GM, Brand Development, Dainik Jagran Inext, tells us how the campaign showcases the paper’s unique positioning.

With 12 editions in cities such as Dehradun, Kanpur, Agra, Lucknow, Patna, Ranchi and Jamshedpur, Inext’s research has shown that the average literacy rate is 77% and the per capita income is almost Rs 2 lakh in these cities. Biswas explains, “Our newspaper is the only one with a 99% urban, upmarket readership that ensures a better ROI for advertisers. Most other newspapers have an upcountry-urban circulation split of roughly 60:40 respectively. At Inext we are not interested in creating a large circulation base but rather a more focused one. Our circulation is currently 5.5 lakh across the 12 target cities and we reach out to the target audience that has the purchasing power. We offer advertisers a focused connect with urban readers, something no other paper does.”

Biswas adds that Inext is amplifying the campaign with a mini-golf series for various agencies across India. “The entire Hindia campaign is aimed at driving awareness among media planners and decision makers, offering them insights into these markets, while providing them with a more focused approach.”

Entrepreneurship will never be a straight line, advises Droom CEO

It doesn’t matter if someone believes in your conviction or not. You have to wear a salesman hat and convince someone to put money in you, advises Droom CEO Sandeep Aggarwal.

Sandeep Aggarwal, CEO and founder of Droom, a marketplace to buy and sell automobiles and related services also co-founded ShopClues in 2011.

After working as a financial analyst at a US based firm, he decided to pitch the idea for Shopclues to several investors but he faced dejection. Now he keeps a pocketbook, which gives a detailed plan about how his companies will work for next years. His new startup Droom has raised close to USD 65 million. Excerpts from a quick interview:

What are the lessons you learnt from facing 25 rejections from investors while starting your first company?

It is not easy. The lessons I learnt was that you have to believe in your conviction, it doesn’t matter if others believe it or not.
Entrepreneurship is never going to be straight line. Be ready for that.
Raising money is never going to be easy.
It doesn’t matter if someone believes in your conviction or not. You have to wear a salesman hat and convince someone to put money in you.

Here are my five important tips to aspiring entrepreneurs:

Be passionate about the idea: Do something for which you feel passionate and energetic. Don’t do something because you want to be your own boss or have a business.

Do it in time: If you don’t, then the regret of not doing it will be bigger than anything later.

Get enough capital: It doesn’t matter how lean operations you have, how much less capital you need but get sure you get enough capital for the business.

Think long term: Always start a business with a long term horizon. Don’t do something short-term or just to have a capital.

Hire a great team: Hire the team where you can have commitment, chemistry, and good character. They should be committed to the vision of the company and get along with you.

2. What traits you look for in your partners and cofounders in business?

I look for five things in my partner, may it be my team or my cofounder.

These are commitment, character, capability, craving and capacity.

India is going through renaissance of digital economy revolution. It is going through entrepreneurism.

People should dare to dropout (of jobs and colleges) to follow their dream.

We spend money only when we can measure it: Sandeep Aggarwal, CEO, Droom

Online automobile marketplace and services platform Droom recently announced that it will spend Rs. 225 crore in an advertising blitz in the next 12 months to create a national footprint. The spend towards marketing, as a means to drive new business, comes as investors have been pushing start-ups to curb cash burn to drive unit economics and profitability. In a conversation with exchange4media, Sandeep Aggarwal, CEO & Founder, Droom tells us about how the company plans to step up its marketing and branding game through this budget.

What is your marketing mantra?

I think our marketing mantra comprises four factors. One is that we are highly obsessive about ROI. Second is that we spend money only when we can measure it. Third, we like performance-based marketing. As they say, what you cannot measure, you cannot control. The fourth one can be attributed to the component of virality.

Tell us about your performance-linked marketing approach?

Growing at the rate of 225%, we are right now the third or fourth largest ecommerce company in India. We are the largest auto-portal on 65% of all online transactions for automobile and the largest hyper-local marketplace. Our marketing spend per cent of gross revenue is probably the lowest for any ecommerce company in India. On an average, an ecommerce company spends 10–15% of their gross revenue on marketing whereas we are spending under 4.5% of our gross revenue for marketing. That’s the only possibility because for us, the most analytical department is not finance or research—it is marketing. The things we measure obsessively are the marketing spends and the returns we get out of that. We have always tried to link our marketing span with performance and results but our categories are such that you must build a larger market brand and that is why we are allocating a sizeable budget for TV, print, radio and outdoor. We are ROI-focused, data-driven and if we hadn’t spent the marketing budget so efficiently, I don’t think we would have received this much. You only make this much money if you spend the previous money very thoughtfully.

You said that you measure obsessively. What are the metrics that help you gauge the efficacy of your marketing activities?

We have a third-party company which gives an insight on brand recall and brand awareness. We measure Rupees in terms of the total traffic we receive, increase in total app download, likes, percentage increase in direct traffic and organic traffic. Then, we measure marketing spend as a percentage of GMV (Gross Merchandise Value) on whether it is the same as before or has gone higher.

What is your marketing focus?

Our marketing focus is core online shoppers.

What are your criteria for brand tie-ups and associations?

We look at a brand or company that we can associate with Droom, as a brand and that exudes vibrancy, energy and youthfulness. Another factor is if the brand is more cohesive with what we do for a living. Also, rather than a standard tie-up, we look for a brand that can cause a spill-over in terms of virality.

Any brand engagement activities in the pipeline?

As a part of our new campaign, you will see the brand in huge concentrated areas like shopping malls, college campuses and universities throughout India. You can expect a lot of activation. We will try to engage people with OBV, eco and history.

Droom to Invest upto $10M in Acquisitions This Year; Gati, TVS Logistics, Others in Talks to Acquire Snapdeal's Vulcan Express & More

Hyderabad-based automotive technology startup Smart Auto Systems has raised Rs 20 crore in Series-A round from Mitsui & Co, which is part of Japanese conglomerate Mitsui Group.

Here is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:

1. Online interior design company, Design Cafe has raised a multi-million-dollar round of funding led by Fireside Ventures

founded by Kanwaljit Singh, former managing director of Helion ventures. Other investors who participated in the round include Apurva Salarpuria, founder of Salarpuria Group of Companies, angel investor Sidharth Pansari and Sprout Capital, a micro venture capital fund by Bengaluru-based boutique investment banking firm. In the last 18 months, this is company’s second funding round.

The Bengaluru-based startup, cofounded by architects and designers Gita Ramanan and Shezaan Bhojani, offers an online customised design and decor solution to consumers. It plans to use the raised funds to expand to other cities, including Mumbai and Delhi.

2. Hyderabad-based automotive technology startup Smart Auto Systems has raised Rs 20 crore in Series-A round from Mitsui & Co, which is part of Japanese conglomerate Mitsui Group, according to documents filed with the Registrar of Companies (ROC).

The startup has been bootstrapped since its inception in 2015. This is the first infusion of external capital in the company that will be used to further build out its technology platform, and expand its geographical presence, a source close to the deal told ET.

3. Gati, one of India's largest express distribution and supply-chain companies, mid-market private equity firm Peepul Capital and supply-chain player TVS Logistics are in the fray to acquire Vulcan Express, the logistics arm of beleaguered online marketplace Snapdeal.

According to a report published by ET, a potential transaction could take place over the next 60 days. Snapdeal is expecting an amount of Rs 90-120 crore for this acquisition deal, according to two sources familiar with the matter.

Flipkart, the country's largest e-commerce company, and global private equity major Warburg Pincus who is an investor in Gurgaon-based logistics company, Ecom Express, have also expressed interest to acquire Vulcan Express.

This also comes after Axis Bank, India's third-largest private sector bank, has emerged as one of the frontrunners to acquire FreeCharge the digital payments platform owned by Snapdeal, after Paytm and Mobikwik.

Last week, Snapdeal’s board has rejected an offer of roughly $800-900 million from larger rival Flipkart.

4. After closing its $20 million Series C round of funding last week, Droom, an online marketplace for used automobiles, is planning 2-3 acquisitions this year and will probably spend about $8-10 million. Droom will also expand into Indonesia this year. The company earlier planned foray into Southeast Asia, however the plan had been ‘delayed’ as the company had stayed focused on its operations in India.

“We stayed focused on India because if we capture India, then we can capture many other countries. After Diwali (this year), we will expand internationally and Indonesia will be the first country. After that, we will be expanding to Malaysia, the Philippines, Thailand and Singapore,” founder Sandeep Aggarwal said in an interaction with DealStreetAsia.

Droom closes Rs 133-crore Series-C funding round

NEW DELHI: Online marketplace for used automobiles and auto services Droom has closed a $20-million (about Rs 133-crore) funding round, led by Hong Kong-based investment company Integrated Asset Management and a clutch of Hong Kong and Chinese Mainland-based family offices.

The series-C round of funding also saw participation from Droom's existing list of institutional backers, which includes venture capital firm Lightbox, Singapore-based investor Beenext, founded by former Beenos founder and chief executive Teruhide Sato, Beenos and Japanese incubator and venture capital firm Digital Garage.

However, according to two sources briefed on the matter, also joining the company's investor cap table is Success Finance Group, the financial arm of Hong Kong-listed Success Universe Group, which is principally engaged in travel and lottery businesses.

Additionally, about six family offices, whose names were not disclosed, and are spread across Hong Kong, China and Taiwan, have also invested in the round. According to the sources cited above, the latest round values the three-year-old company at $450-$500 million, a significant upside from its series-B valuation of $210-$240 million.

This, however, could not be independently verified by ET.

Both Sandeep Aggarwal, chief executive of Droom, and co-founder Rishab Malik, declined to disclose the specifics of the transaction, along with the names of the new investors, citing confidentiality agreements. Including the latest round of funding, Droom, which competes with the likes of Temasek and Warburg Pincus-backed CarTrade and Google Capital and Hillhouse Capital-backed CarDekho, has raised about $65 million in equity financing.

In February, CarTrade had raised $55 million in funding led by Temasek and an unnamed US-based family office.

Proceeds from the latest round will be used to further build up the Gurgaon and Singapore-based Droom's five business verticals, which includes algorithmic pricing engine Orange Book Value, doorstep auto inspection Eco, History, a repository of vehicle history, Droom Discovery a pre-buying research tool and Droom Credit, its auto financing vertical.

ET was the first to report in its edition dated November 21, 2016 that the company had begun discussions with potential investors to raise its next round. At the time, the company was looking to raise $30$50 million. “We raised $20 million, despite there being more capital available, as we wanted to dilute less equity. We still have over 80% of our series-B lying in the bank,“ Malik told ET.

Business Standard
Business Standard | Droom in news
The Financial Express logo
The Financial Express | Droom in news
deccan herald logo
deccan herald  | Droom in news
Financial Chronicle logo
Financial Chronicle  | Droom in news
Hindustan times logo
Hindustan times  | Droom in news
The Economics Times logo
The Economics Times  | Droom in news
The Hindu logo
Times of India logo
Live mint
Droom raises ₹130 crore in Series C round

MUMBAI, JULY 5: Droom, an online automobile transactional platform, has successfully raised $20 million (Rs 130 crore) in its Series C round led by Integrated Asset Management and Digital Garage. A number of prominent institutional investors and family offices from China, Hong Kong and Taiwan participated in the round.

With this infusion of funds, fifth round of funding by Droom, the company has raised closed to $65 million so far. The newly-raised capital will be leveraged to build on its tech platform and drive greater adoption of its ecosystem tools.

“Droom is the largest auto portal in India in terms of gross revenue, monthly traffic and number of auto dealers. We are also the largest auto vertical and the largest hyperlocal marketplace in e-commerce. Series C rounds typically accelerate the pace of growth for a business and help it establish its undisputed leadership in its sector and that’s exactly the case with us,” Droom Founder and CEO, Sandeep Aggarwal said,

“This fresh capital infusion into our war chest will once and for all give us an unchallenged competitive edge, not just in the online automobile space but in the e-commerce landscape at large,” he added.

Automobiles portal Droom raises $20 mn in Series C funding

Online marketplace for automobiles Droom Technology Pvt. Ltd has raised $20 million in a Series C round led by Integrated Asset Management (Asia) Ltd and Digital Garage Inc, the company said in a statement.

Existing investors Lightbox India Advisors Pvt. Ltd and Beenos Asia Pte. Ltd, as well as institutional investors and family offices from China, Hong Kong and Taiwan have also participated in this round.

Integrated Asset Management is a subsidiary of a Hong Kong-based private investment firm having interests in private debt, buyouts, venture capital, listed securities and real estate.

According to a company statement, the new capital will be used to build its tech platform and beef up its presence in the market, besides facilitating greater adoption of its ecosystem tools, including History, ECO, OBV and Credit.

“The fresh capital infusion into our war chest will once and for all give us an unchallenged competitive edge, not just in the online automobile space, but also in the e-commerce landscape at large,” said Droom’s founder Sandeep Aggarwal.

Since its launch in April 2014, Droom has raised $65 million of external funding. In July 2016, it had raised an undisclosed amount in a Series B round from venture capital fund Beenext, Japanese internet company Digital Garage, Lightbox and Beenos, besides others.

The company claims $554 million in annualised gross merchandise volume, growing at 350% year-on-year. It also claims to have over 159,000 auto dealers on its platform.

In the online used automobiles selling space, Droom competes with Truebil, Zoomo, CarDekho (which had acquired Gaadi.com), Carwale and CarTrade. Horizontal people-to-people platforms, such as OLX and Quikr, too, share the same space. According to Aggarwal, Droom has a 65% share of all transactions in the online used automobile market.

The company has also set aside $8-10 million for possible all-cash acquisitions, and is betting big on its credit services to achieve profitability. “Going ahead, Droom Credit will contribute higher than any other vertical in terms of revenue. Within two years, we would like to see about one-third of Droom as a fintech company. The vertical is in its second month now, and we already have more than one dozen NBFCs and banks working with us, generating more than 10,000 leads,” Aggarwal added.

Aggarwal had earlier launched online marketplace ShopClues, which was backed by Beenos. He has also been investing in other startups, such as mobile wholesale marketplace Wydr and Shopsity, which connects offline retailers to customers.

Droom raises $20 million in Series C funding round led by Integrated Asset Management

All existing institutional investors and family offices from China, Hong Kong and Taiwan also participated in the round.

Online automobile transactional platform Droom has raised $20 million (Rs 30 crore) in Series C round led by Integrated Asset Management and Digital Garage. All existing institutional investors and family offices from China, Hong Kong and Taiwan also participated in the round.

Drooms intends on using these funds to build on its tech platform and drive greater adoption of its ecosystem tools such as History, ECO, OBV and Credit. This is the fifth round Droom has raised since inception, taking its total funding close to $65 million.

Founder and CEO Sandeep Aggarwal claims that Droom is the largest auto portal in India in terms of gross revenue, monthly traffic and number of auto dealers and also the largest auto vertical and hyperlocal marketplace in e-commerce.

“Series C rounds typically accelerate the pace of growth for a business and help it establish its undisputed leadership in its sector and that’s exactly the case with us. This fresh capital infusion into our war chest will once and for all give us an unchallenged competitive edge, not just in the online automobile space but in the e-commerce landscape at large,” he adds.

Jeffrey Yam, Integrated Asset Management said, “India is the next China as far as consumer internet is concerned. We are really impressed by Droom's ability to drive innovation, create scalable technology platforms, and capture the growth of the Indian automobile industry. Droom creates value for the industry by directly addressing and solving common pain points experienced by buyers and sellers.”

Founded by ShopClues cofounder Sandeep Aggarwal, Droom is India’s first online marketplace for buying and selling new and used automobiles. The company claims to have over 65% of the automobile transactions market share online.

As per the company, it is doing over $554 million in annualized GMV growing at the rate of 350% YoY. It has over 159,000 auto dealers across 500+ cities in India.

Droom raises $20 mn from IAM, others

New Delhi, Jul 5 (PTI): Online automobile e-commerce platform Droom has raised USD 20 million (nearly Rs 130 crore) in a round led by Integrated Asset Management (IAM). The fifth round of funding saw participation from all the existing institutional investors -- Lightbox, Beenos, Digital Garage and Beenext. The company has so far raised USD 65 million, including from the latest instalment. "The funds will be used to strengthen the technology platform, tech-focussed acquisitions and strengthen Drooms brand portfolio," Droom founder and CEO Sandeep Aggarwal told reporters here. He, however, declined to comment on the valuation of the company.

Last year, Droom raised nearly Rs 200 crore from Beenext and Digital Garage. Prior to that, it had raised seed funding of USD 1.5 million and USD 4 million in May and October 2014, respectively, followed by Series A round of Rs 100 crore in June 2015. Droom expects to clock Rs 175 crore in revenue by March 2018 and make profit by the middle of the next year. The company is also looking at listing on Nasdaq by the middle of 2019 and by then, Drooms GMV will touch about USD 2.5 billion, Aggarwal said.

GMV is a term used in online retailing to indicate the gross merchandise value of products sold through the marketplace over a certain period of time. It is often used as a reference by start-ups to showcase growth potential of the company and therefore, raise funds from investors.

However, investors are now more attentive towards factors like path to profitability and scalable business models rather than just GMV. PTI SR ARD

Automobile Marketplace Droom Raises $20 Mn Funding, Eyes IPO

Droom Is Looking For International Expansion, Starting From Indonesia By Year End

Online automobile marketplace Droom has raised $20 Mn (INR 130 Cr) Series C round led by Integrated Asset Management and Japan’s Digital Garage. Integrated Asset Management (Asia) Limited is a Hong Kong-based private investment office.

The round also saw participation from existing institutional investors including Lightbox Ventures, BEENEXT, Beenos. Apart from this, a number of prominent institutional investors and family offices from China, Hong Kong, and Taiwan participated in the round.

This current round takes Droom’s total funding to $65 Mn. The last fund infusion came in June 2016, when the company raised undisclosed (reported to be around $30 Mn) funding in Series B.

Commenting on the investment Jeffrey Yam of Integrated Asset Management said, “India is the next China as far as consumer internet is concerned. We are really impressed by Droom’s ability to drive innovation, create scalable technology platforms, and capture the growth of the Indian automobile industry. Droom creates value for the industry by directly addressing and solving common pain points experienced by buyers and sellers.”

The company is planning for expansion in Southeast Asia. And the automobile portal is also looking to get registered on NASDAQ by 2019, said founder Sandeep Aggarwal in an interaction with the media in Delhi today.

Indian online automobile marketplace Droom raises $20m in Series C round

Online automobile market place Droom has raised an $20 million in its Series C round of funding led by Integrated Asset Management and existing investor Digital Garage.

The round also saw participation from a number of institutional investors and family offices from China, Hong Kong and Taiwan, along with existing investors Lightbox, Beenext and e-commerce operator Beenos.

With this latest round, the company’s total funding stands at around $65 million so far, according to a statement.

“India is the next China as far as consumer internet is concerned. We are really impressed by Droom’s ability to drive innovation, create scalable technology platforms, and capture the growth of the Indian automobile industry. Droom creates value for the industry by directly addressing and solving common pain points experienced by buyers and sellers,” said Jeffrey Yam, principal, investments at Integrated Asset Management.

“Series C rounds typically accelerate the pace of growth for a business and help it establish its undisputed leadership in its sector and that’s exactly the case with us. This fresh capital infusion into our war chest will once and for all give us an unchallenged competitive edge, not just in the online automobile space but in the e-commerce landscape at large,” said Droom Founder and CEO, Sandeep Aggarwal.

In June last year, Droom had announced raising undisclosed amount in its Series B round led by Singapore’s Beenext and Japanese incubator and Digital Garage.

Existing investors, Lightbox Ventures and Beenos, had also participated in the round along with new institutional investors from China and Japan.

The funds were to be used for its planned expansion into southeast Asia later this year apart from strengthening its platform and presence in India.

Commenting on new fundraise, Siddharth Talwar, co-founder & partner, Lightbox said, “the company’s focus on building core technology products to support its marketplace from its pricing engine Orange Book Value to History to ECO and now Credit, enables them to provide tremendous transparency to consumers throughout the country -which can never be duplicated by traditional dealers,”

Founded in April 2014, Droom is a marketplace for new and used automobiles and services competing with the likes of CarTrade and CarDekho.

Prior to the Series B round, which was reported to be around $30 million, Droom had raised $16 million in three rounds including two tranches of seed funding.

Hong Kong-based Integrated Asset Management (Asia) Ltd is a private investment office that principally invests across the capital structure. The investment ranges from private debt, buyouts, venture capital, listed securities and real estate.

Droom raises $20 million in Series C investment from IAM, Digital Garage

With this investment, the company has raised about USD 65 million so far within three years of its existence.

Gurgaon based online transaction platform for automobiles Droom, has raised USD 20 million in Series C funding from Integrated Asset Managment (IAM) and Digital Garage Ventures.

A number of family offices from countries such as Hong Kong, Taiwan and China also participated in the investment round.

With this investment, the company has raised about USD 65 million so far within three years of its existence.

Started by former Shopclues CEO Sandeep Aggarwal in 2014, Droom provides an online marketplace for buying and selling new and used automobiles in three pricing formats—fixed Price, best offers and auctions.

"We will be profitable by first half of 2018. Our burn rate is less than 3.5 percent of the annual gross merchandise value," said Aggarwal in a press conference in the capital today.

The company claims to be currently doing USD 510 million in annualized GMV in transactions.

The company is also planning international expansion. "We'll be expanding in south-east Asia starting with Indonesia this year after Diwali," said Aggarwal.

Droom raises $20 million in Series C led by Integrated Asset Management

Droom, India's largest online automobile marketplace led by Integrated Asset Management and Digital Garage. All existing institutional investors participated in this round which is the fifth round for the entity.

Droom has raised $65 million so far and Sandeep Aggarwal, Founder & CEO, Droom said,"These funds will be used for further technological advancements and we are also looking for possible acquisitions in the automobile sectors. We have met 20 startups for possibly investing and acqui-hiring them."

Droom is largest auto portal in India in terms of gross revenue, monthly traffic and number of auto dealers. This round cements the company as one of the e-commerce platforms in India.

The company is planning to spend 225 crores towards marketing and expansion into other countries like Indonesia by third quarter of FY 2017-18.

Aggarwal also added,"We are aiming to be profitable by mid-2018. Our long term goal is to list on NASDAQ by mid-2019 when we hit the GMV of Rs. 1500 Crores."

Automobiles portal Droom raises $20 mn in Series C funding

Online marketplace for automobiles Droom Technology Pvt. Ltd has raised $20 million in a Series C round led by Integrated Asset Management Plc and Digital..

With Rs 100 crore, Droom wants to tank up on ads

BENGALURU: Droom, an online marketplace for used automobiles and auto services, plans to spend Rs 100 crore on marketing, advertising and promotions this year, according to a top executive of the company. "We want to increase the sense of pride and lower the anxiety in the mind of a customer when they plan on buying a used vehicle," said Sandeep Aggarwal, CEO of Droom, which is present in 160 towns and cities.

Aggarwal said the company is aiming at a five-fold increase in business in one year to Rs 5,000-6,000 crore in annualised gross merchandise value. The company hopes to close the current fiscal with Rs 3,000 crore in annualised GMV, he said.

Founded in April 2014 in Silicon Valley, the Gurgaon-based startup is backed by venture capital firm Lightbox, Singapore-based investor Beenext, Beenos and Japanese incubator and VC firm Digital Garage. It has so far raised more than Rs 300 crore in funds. Other competitors in the space include Google Capital and HillHouse-backed CarDekho, and Warburg Pincus and Tiger Global Management funded CarTrade.

Although the company gets most of its business from the Delhi-NCR region, over the last few months it has seen significant growth in transactions from cities including Bengaluru, Mumbai, Ahmedabad, Ludhiana, Surat and Hyderabad.

Droom raises $20 mn from IAM, others

The company has so far raised USD 65 million, including from the latest instalment. "The funds will be used to strengthen the technology platform, tech-focussed acquisitions and strengthen Droom's brand portfolio," Droom founder and CEO Sandeep Aggarwal told reporters here. He, however, declined to comment on the valuation of

"The funds will be used to strengthen the technology platform, tech-focussed acquisitions and strengthen Droom's brand portfolio,"

Automobiles portal Droom raises $20 mn in Series C funding

Online marketplace for automobiles, Droom has raised $20 million in a Series C funding round led by Integrated Asset Management Plc and Digital Garage Inc. Institutional investors and family offices from China, Hong Kong and Taiwan have also participated in this round. Since its launch in April 2014, Droom has raised external funding of $65 million.

Droom raises $20M Series C funding

"The funds will be used to strengthen the technology platform, tech-focussed acquisitions and strengthen Droom's brand portfolio," said Droom's Sandeep Aggarwal

Online marketplace for used automobiles and auto services Droom has raised $20 million (around Rs 130 crore) Series C funding led by Integrated Asset Management and Digital Garage.

The round also saw participation from existing investors like Lightbox, Beenos and Beenext. The Gurgaon and Singapore-registered company has, till date, raised about $65 million across five funding rounds.

"The funds will be used to strengthen the technology platform, tech-focussed acquisitions and strengthen Droom's brand portfolio," said Droom founder and CEO Sandeep Aggarwal. However, he declined to comment on the valuation of the company.

Last year, Droom raised nearly Rs 200 crore from Beenext and Digital Garage. Prior to that, it had raised Rs 100 crore Series A funding in June 2015 and seed funding of $1.5 million and $4 million in May and October 2014 respectively. Droom expects to clock Rs 175 crore in revenue by March 2018 and make profit by the middle of the next year.

The company has four different revenue streams - its core transaction platform, premium subscription services, advertising, and in-house developed enterprise products, such as algorithmic pricing engine Orange Book Value and auto inspection and verification service provider Eco.

Earlier this week, ET reported that Droom has earmarked Rs 225 crore to be spent on marketing of services like Orange Book Value, Droom Eco, vehicle history report History and Droom Credit over the next 12 months.

“In terms of traffic, these four tools now account for 50% of our total traffic which means they are doing very well in terms of user adoption. They have become extremely important for us to win this whole automobile market for a long-term horizon,“ Aggarwal said.

Droom is also looking at listing on Nasdaq by the middle of 2019, and plan to generate $2.5 billion GMV by that time, Aggarwal said.

Droom marketing budget zooms to Rs 225 crore

MUMBAI: Online marketplace for used cars Droom is betting big on its new ecosystem tools to drive growth as it looks to invest heavily to build complementary revenue streams through the allied services. Backed by Singapore-based Beenext and Japanese incubator and venture capital firm Digital Garage, Droom has earmarked Rs 225 crore to be spent on marketing on its new tools alone over the next 12 months.

The four new ecosystem tools include the pricing tool Orange Book Value, the inspection tool Droom Eco, vehicle history report History and Droom Credit for loans and financing and the company's marketing efforts will focus solely on these new services this year.

Droom's spend towards marketing as a means to drive new business comes even as investors have been pushing startups to curb cash burn to drive unit economics and profitability. But Aggarwal believes the 2.25 times higher advertising spend in these verticals as compared to last year's marketing budget of Rs 100 crore, would show definite results in the topline.

“In terms of traffic, these four tools now account for 50% of our total traffic which means they are doing very well in terms of user adoption. They have become extremely important for us to win this whole automobile market for a long-term horizon,“ he said. While there is scepticism over the prudence of this move, some analysts tracking the space, believe that the company's increased marketing spends may not actually be an exaggerated strategy.

“If a company has the resources, the best time to increase marketing spend is when others are tightening their belt.At such times marketing expenses are low, as is competition for the consumer's mindshare,“ said Devangshu Dutta, CEO of consultancy firm Third Eyesight.

Apps Unveiled
Apps Unveiled
Finance Express
The Statesman
Business Standard
This company sells helmets for ₹9!
timegroup | Droom in news
times news
This company sells helmets for Rs 9!

PUNE: Incentives like freebies or discounts to hook customers are not new to marketing campaigns. However, in a country where safety is not largely paramount, a campaign of helmets at throwaway prices is certain to strike a chord.

Delhi-based second-hand automobile marketplace, Droom, has been selling ISI certified helmets for Rs 9 one day every month since January 2017. Droom intends to reap the benefits of this campaign later by cross-selling second-hand two-wheelers and four-wheelers to the customers.

The MRP on each of these helmets is Rs 750. However, using a code, customers are able to order them for Rs 9 on the company's website. "It is a part of our customer advocacy campaign," Sandeep Aggarwal, founder and CEO of Droom told TOI. The company also brands the helmet with its logos — Droom or Orange Book Value.

As per the company, it managed to get orders for over 21,000 helmets (largely fulfilled) between January and March, and on April 18, the company received orders for another 26,000 of these. These orders are fulfilled by third-parties and the company has tied up with 5-6 different vendors for this across the country.

Asked about the rationale of the pricing, Aggarwal said it is a ‘psychological pricing’. He added that many people who bought the helmet at Rs 9 in January and February have already transacted on the company’s website to buy or sell second-hand two-wheelers.

The company, which gets about 200 deals a day now, aims to get to 450 transactions a day by the end of this year. Last year, the company said the gross value of automobiles transacted on its platform was worth Rs 2,600 crore.

Here's why second-hand automobile marketplace Droom has been selling helmets for Rs. 9

Incentives like freebies or discounts to hook customers are not new to marketing campaigns

Incentives like freebies or discounts to hook customers are not new to marketing campaigns. However, in a country where safety is not largely paramount, a campaign of helmets at throwaway prices is certain to strike a chord.

Delhi-based second-hand automobile marketplace, Droom, has been selling ISI certified helmets for Rs 9 one day every month since January 2017. Droom intends to reap the benefits of this campaign later by cross-selling second-hand two-wheelers and four-wheelers to the customers.

The MRP on each of these helmets is Rs 750. However, using a code, customers are able to order them for Rs 9 on the company’s website. “It is a part of our customer advocacy campaign,” Sandeep Aggarwal, founder and CEO of Droom told TOI. The company also brands the helmet with its logos — Droom or Orange Book Value.

As per the company, it managed to get orders for over 21,000 helmets (largely fulfilled) between January and March, and on April 18, the company received orders for another 26,000 of these. These orders are fulfilled by third-parties and the company has tied up with 5-6 different vendors for this across the country.

Asked about the rationale of the pricing, Aggarwal said it is a ‘psychological pricing’. He added that many people who bought the helmet at Rs 9 in January and February have already transacted on the company’s website to buy or sell second-hand two-wheelers.

The company, which gets about 200 deals a day now, aims to get to 450 transactions a day by the end of this year. Last year, the company said the gross value of automobiles transacted on its platform was worth Rs 2,600 crore.

This company sells helmets for Rs 9

Delhi-based second-hand automobile marketplace, Droom, has been selling ISI certified helmets for Rs 9 one day every month since January 2017.

PUNE: Incentives like freebies or discounts to hook customers are not new to marketing campaigns. However, in a country where safety is not largely paramount, a campaign of helmets at throwaway prices is certain to strike a chord.

Delhi-based second-hand automobile marketplace, Droom, has been selling ISI certified helmets for Rs 9 one day every month since January 2017. Droom intends to reap the benefits of this campaign later by cross-selling second-hand two-wheelers and four-wheelers to the customers.

The MRP on each of these helmets is Rs 750. However, using a code, customers are able to order them for Rs 9 on the company’s website. “It is a part of our customer advocacy campaign,” Sandeep Aggarwal, founder and CEO of Droom told TOI. The company also brands the helmet with its logos — Droom or Orange Book Value.

As per the company, it managed to get orders for over 21,000 helmets (largely fulfilled) between January and March, and on April 18, the company received orders for another 26,000 of these. These orders are fulfilled by third-parties and the company has tied up with 5-6 different vendors for this across the country.

Asked about the rationale of the pricing, Aggarwal said it is a ‘psychological pricing’. He added that many people who bought the helmet at Rs 9 in January and February have already transacted on the company’s website to buy or sell second-hand two-wheelers.

The company, which gets about 200 deals a day now, aims to get to 450 transactions a day by the end of this year. Last year, the company said the gross value of automobiles transacted on its platform was worth Rs 2,600 crore.

Droom is the Title Sponsor of ‘MTV Dropout’

Droom, an online automobile transactional marketplace, is title sponsor of MTV Dropout, reality show to find entrepreneurs. The show will air on Viacom18's Youth-entertainment channel, MTV.

Sandeep Aggarwal, Founder of ShopClues and Droom will be the chief mentor to the participants throughout the show along with two other founders of the internet start-ups.

‘Dropout’ here refers to the people who have not dropped out because of the pressures and succeeded in pursuing an alternative idea. The idea behind this show is to test their mettle in front of the panel of mentors.

Also, the show will consist of series of episodes and the team in the final will present to industrialists, investors and personalities like Ratan Tata, Anand Mahindra, Raghuram Rajan, Ronnie Screwala, Anil Ambani and Azim Premji. These stalwarts will select the one winning team which will have the potential to revolutionize the business of India.

Speaking about the show, Aggarwal, Founder, ShopClues & Droom, said, “I have always been extremely grateful to the entrepreneurs, innovators and my guides who helped me out in various capacities when I dropping out from normal life to become entrepreneur first time. During the show, I would try to pass on the trust and the good faith that was bestowed on me and provide whatever experience I have gained into enriching the decisions of the participants to fulfill their dreams. The show has been structured in such a way that it tests all the skills of the participants required to emerge as prospective entrepreneurs and business leaders. From food trucks to corporate events, the participants would need to show their all-round skills, resilience and tenacity apart from continuously working on their individual business ideas. I wish them all the best and look forward to see some great business ideas and interactions on the show soon!”

Call for entries from applicants across the country has started. The auditions for the show will be held in Mumbai in the month of May to select the final candidates who will then be divided into teams and judged on the parameters of Drive, Strength of Idea, Planning and Attitude.

Droom bags the litle sponsorship for the upcoming show MTV Dropout

From Bill Gates to Sachin Tendulkar, people who have become some of the most iconic figures in our country have achieved what they have only because they had strong vision, resilience and courage to back their passion in achieving that vision. In keeping with the same spirit, Droom, India’s pioneering online automobile transactional marketplace has now become the title sponsor for MTV Dropout, India’s first start-up reality show that seeks to find out India’s next big entrepreneur. Sandeep Aggarwal, Founder – ShopClues & Droom is a Chief Mentor to the participants throughout the show, along with the founders of two other Internet startups.

Sandeep Aggarwal, who is known to be among the most prolific investors and entrepreneurs in the Indian e-commerce and entrepreneurial environment, is often considered a maverick when it comes to taking tough decisions, showing resilience and building scalable businesses. Once a globally top ranked Wall Street Internet analyst out of Silicon Valley, Sandeep gave up his comfortable job and a luxurious lifestyle to give fire to his entrepreneurial dreams and create India’s first managed marketplace-ShopClues-in 2011. Since then, in his various roles as an angel investor or mentor, he has always strived to extend a helping hand to entrepreneurs with great ideas, ‘grit in their teeth and fire in their belly.’ MTV Dropout is another such venture which aims to finds out India’s next prolific business ideas through the concept of a reality show.

Call for entries from applicants across the country has started. The auditions for the show will be held in Mumbai in the month of May to select the final candidates who will then be divided into teams and judged on the parameters of Drive, Strength of Idea, Planning and Attitude.

Commenting on the show, Sandeep Aggarwal, Founder – ShopClues & Droom said, “I have always been extremely grateful to the entrepreneurs, innovators and my guides who helped me out in various capacities when I dropping out from normal life to become entrepreneur first time. During the show, I would try to pass on the trust and the good faith that was bestowed on me and provide whatever experience I have gained into enriching the decisions of the participants to fulfill their dreams. The show has been structured in such a way that it tests all the skills of the participants required to emerge as prospective entrepreneurs and business leaders. From food trucks to corporate events, the participants would need to show their all-round skills, resilience and tenacity apart from continuously working on their individual business ideas. I wish them all the best and look forward to see some great business ideas and interactions on the show soon!”

MTV Dropout will expand the narrow and negative connotation of the word ‘dropout’ to refer to people who have not accepted the pressures of the system but succeeded by pursuing an alternate, non-conventional idea with belief and pride. It invites entries from prospective entrepreneurs as well as ideas rejected in the VC stage to test their mettle in front of the experienced panel of mentors.

Droom MTV Dropout will consist a series of episodes and the teams in the final will present to globally-renowned industrialists, investors and iconic economic personalities such as Ratan Tata, Anand Mahindra, Raghuram Rajan, Ronnie Screwala, Anil Ambani and Azim Premji. These stalwarts will select the one winning team that has the potential to revolutionize the business exosphere of India and further helm its start-up journey to a world of endless possibilities!

Droom bags title sponsorship of startup reality show MTV Dropout

From Bill Gates to Sachin Tendulkar, people who have become some of the most iconic figures in our country have achieved what they have only because they had strong vision, resilience and courage to back their passion in achieving that vision. In keeping with the same spirit, Droom, India’s pioneering online automobile transactional marketplace has now become the title sponsor for MTV Dropout, India’s first start-up reality show that seeks to find out India’s next big entrepreneur.

Sandeep Aggarwal, Founder – ShopClues & Droom will be the Chief Mentor to the participants throughout MTV Dropout, along with the founders of two other Internet startups.

Sandeep Aggarwal, who is known to be among the most prolific investors and entrepreneurs in the Indian e-commerce and entrepreneurial environment, is often considered a maverick when it comes to taking tough decisions, showing resilience and building scalable businesses. Once a globally top ranked Wall Street Internet analyst out of Silicon Valley, Sandeep gave up his comfortable job and a luxurious lifestyle to give fire to his entrepreneurial dreams and create India’s first managed marketplace-ShopClues-in 2011. Since then, in his various roles as an angel investor or mentor, he has always strived to extend a helping hand to entrepreneurs with great ideas, ‘grit in their teeth and fire in their belly.’ MTV Dropout is another such venture which aims to finds out India’s next prolific business ideas through the concept of a reality show.

Call for entries from applicants across the country has started. The auditions for the show will be held in Mumbai in the month of May to select the final candidates who will then be divided into teams and judged on the parameters of Drive, Strength of Idea, Planning and Attitude.

Commenting on the show, Sandeep Aggarwal, Founder – ShopClues & Droom said, “I have always been extremely grateful to the entrepreneurs, innovators and my guides who helped me out in various capacities when I dropping out from normal life to become entrepreneur first time. During the show, I would try to pass on the trust and the good faith that was bestowed on me and provide whatever experience I have gained into enriching the decisions of the participants to fulfill their dreams. The show has been structured in such a way that it tests all the skills of the participants required to emerge as prospective entrepreneurs and business leaders. From food trucks to corporate events, the participants would need to show their all-round skills, resilience and tenacity apart from continuously working on their individual business ideas. I wish them all the best and look forward to see some great business ideas and interactions on the show soon!”

MTV Dropout will expand the narrow and negative connotation of the word ‘dropout’ to refer to people who have not accepted the pressures of the system but succeeded by pursuing an alternate, non-conventional idea with belief and pride. It invites entries from prospective entrepreneurs as well as ideas rejected in the VC stage to test their mettle in front of the experienced panel of mentors.

Droom MTV Dropout will consist a series of episodes and the teams in the final will present to globally-renowned industrialists, investors and iconic economic personalities such as Ratan Tata, Anand Mahindra, Raghuram Rajan, Ronnie Screwala, Anil Ambani and Azim Premji. These stalwarts will select the one winning team that has the potential to revolutionize the business exosphere of India and further helm its start-up journey to a world of endless possibilities.

Droom is the title sponsor for MTV Dropout

CHENNAI: Online auto marketplace Droom has now become the title sponsor for MTV Dropout, India's first startup reality show that seeks to find out India's next big entrepreneur.

Sandeep Aggarwal, founder, ShopClues & Droom, is the chief mentor to the participants throughout the show, along with the founders of two other internet startups.

Sandeep Aggarwal, who is known to be a prolific investor/entrepreneur in the e-commerce and entrepreneurial environment, is often considered a maverick when it comes to taking tough decisions.

Once a globally top ranked Wall Street internet analyst out of Silicon Valley, Sandeep gave up his comfortable job and lifestyle to fire his entrepreneurial dreams and create ShopClues-in 2011.

"Since then, in his various roles as an angel investor or mentor, he has always strived to extend a helping hand to entrepreneurs with great ideas, 'grit in their teeth and fire in their belly.' MTV Dropout is another such venture which aims to finds out India's next prolific business ideas through the concept of a reality show," said the company in a statement.

Call for entries from applicants across the country has started. The auditions for the show will be held in Mumbai in the month of May to select the final candidates who will then be divided into teams and judged on the parameters of Drive, Strength of Idea, Planning and Attitude.

Commenting on the show, Aggarwal said, "I have always been extremely grateful to the entrepreneurs, innovators and my guides who helped me out in various capacities when I dropped out from normal life to become entrepreneur first time. During the show, I would try to pass on the trust and the good faith that was bestowed on me and provide whatever experience I have gained into enriching the decisions of the participants to fulfill their dreams. The show has been structured in such a way that it tests all the skills of the participants required to emerge as prospective entrepreneurs and business leaders. From food trucks to corporate events, the participants would need to show their all-round skills, resilience and tenacity apart from continuously working on their individual business ideas. I look forward to see some great business ideas and interactions on the show soon!"

MTV Dropout will expand the narrow and negative connotation of the word 'dropout' to refer to people who have not accepted the pressures of the system but succeeded by pursuing an alternate, non-conventional idea with belief and pride. It is inviting entries from prospective entrepreneurs as well as ideas rejected in the VC stage to test their mettle in front of the experienced panel of mentors.

Droom MTV Dropout will consist of a series of episodes and the teams in the final will present to globally-renowned industrialists, investors and iconic economic personalities such as Ratan Tata, Anand Mahindra, Raghuram Rajan, Ronnie Screwala, Anil Ambani and Azim Premji.

These stalwarts will select the one winning team that has the potential to revolutionise the business exosphere of India and further helm its start-up journey to a world of endless possibilities.

Droom emerges largest auto portal in India; becomes fifth largest
e-commerce company

New Delhi [India], Apr 10 (ANI): Droom has become the largest auto portal in India in terms of annualized GMV, monthly traffic and number of auto dealers on the platform.

It has now annualized run rate of 2,500 crores or USD 400 mil in annualized GMV, over 15 mil in monthly traffic and over 105k auto dealers.

Also, independent of the category, Droom is now the fifth largest E-commerce company and the largest vertically focused E-Commerce company in India.

With presence in 500 cities, Droom is also India's largest hyperlocal marketplace independent of any category including food and grocery etc. While, the overall E-Commerce growth in India stands at around 20 percent year on year, Droom is growing at the rate of 350 percent year on year.

Droom remains on track to exit March 2018 with USD 1.2bn in GMV and full profitability.

In its part, Droom holds the distinguished honor of being the harbinger of a dedicated online automobile transaction platform concept in India, and a creator of various game-changing revolutionary digital technologies such as the Orange Book Value or OBV, a unique algorithmic pricing engine used to estimate a fair market value of used vehicles and History, India's first national repository for used vehicles with vital information such as registration certificate details and ownership history etc.

"We are super excited to receive such an over whelming response from both buyers and sellers for used automobiles in India. Buying and selling used automobiles India has been full of pain points, frictions and hassles. In nearly last three years, Droom has not only built India's most advanced marketplace but also built the entire ecosystem around used automobile with Orange Book Value, Eco, and History," said founder and CEO Droom, Sandeep Aggarwal.

"Many of these ecosystem services tools are becoming industry standards and helping in trust building, higher transparency and benchmarking around pricing. We will continue to invest very heavily on technology and data science and keep on driving innovation and make India as one of the best countries to buy and sell used automobiles," added Aggarwal.

Droom has reported 17 times faster growth. Its dedicated focus towards enriching its platform with the latest features and customer-service centric modifications make it extremely popular with users.

This popularity and the tendency to remain on top of existing technology contributes significantly to the sustained trust enjoyed by Droom from its investors, which reflects in it receiving funding of USD 45 million during the last two years.

One of the most striking aspects of Droom's popularity has been the trust it enjoys with sellers, who feel completely at ease to list their vehicles on Droom. This has been achieved by keeping price formulation methods transparent and implementing fair and impeccable algorithm techniques during OBV valuation, which sellers completely agree with and trust. With continued support, Droom hopes to bag that elusive #1 e-commerce organization spot soon.

Droom collaborates with Uber, launches #LoveSuperbikes campaign

New Delhi [India], Apr. 6 (ANI): Virtual automobile marketplace Droom, along with Uber, the world's largest ridesharing app, announced the launch of a joint campaign called #LoveSuperbikes, which brings the thrill of speed to the users of the Uber app for a fifteen-minute superbike experience.

Users can follow the steps mentioned below, in order to be a part of this campaign:

Launch the Uber app during the campaign period and send a request for 'Superbikes.'

If the request gets accepted, an Uber MOTO will arrive at your doorstep and take you to the superbike station at Qutub Plaza.

There, glorious and legendary superbikes will be waiting for you, along with a rider, to take you on a 3km, 15 minute ride.

Post the ride, the Uber MOTO will drop you back to the drop location as per your wish. The ride is free of cost.

"At Droom, we wish to popularise the concept of superbiking with the #LoveSuperbikes campaign and who better to partner with than Uber. Previously, Droom and Uber have brought supercars and choppers on demand and we're certain that this one will provide an equally robust adrenaline rush to superbike lovers," said Rishab Malik, Co-Founder and VP - Business Development, Droom.

"This campaign has been initiated to enhance the spotlight on Uber MOTO fleet of two-wheelers for travel, which is a blessing specifically for people who frequently experience the monstrous traffic jams in Gurgaon and other areas in Delhi-NCR. With a MOTO, you can zip through the busy streets of Gurgaon or the narrow lanes of old Delhi and reach your destination in no time," added Uber spokesperson Prabhjeet Singh, General Manager, Uber-North India.

Users can avail only one ride per request with a specific duration of 15 minutes. The superbikes will not be, at any stage, given to the users to drive. Only one rider can ride pillion and he/she should be wearing laced shoes and no sandals or floaters.

Droom Automobile Marketplace Launches its HR App

The HR app aims to provide more content to candidates sitting at Droom office while they have come to give an interview. It is a major move towards creating a paperless office.

Droom, India’s pioneering online automobile transactional marketplace, has launched an HR mobile app, which will now host a whole new set of interesting facets. The App is intended to provide visiting guests and new recruits with a quick overview of the organization, while bridging the waiting time.

The app has every information about Droom, including prevalent vacancies within the company, so that interested candidates can apply directly. The application provides great utility in terms of portraying Droom's culture and core values, specifically to interview candidates at Droom or at campuses.

Speaking on the same, Sandeep Aggarwal, Founder and CEO, Droom, commented, “We are currently looking at hiring in big numbers. The HR app aims to provide more content to candidates sitting at Droom office while they have come to give an interview. It is a major move towards creating a paperless office. The added features are a bonus that will inform existing and potential candidates with every information that they need. We, as a company are growing at a blitzkrieg rate and this new initiative is a logical and strategic move in that direction.”

Droom crosses 500 cities, becoming India's largest hyper local marketplace

In a feat of sorts, Droom, India's pioneering online automobile transactional marketplace today became India's largest hyper local marketplace by bringing a whopping number of 500 cities, under its aegis.

In a feat of sorts, Droom, India's pioneering online automobile transactional marketplace today became India's largest hyper local marketplace by bringing a whopping number of 500 cities, under its aegis. The watershed moment came soon after the company announced that it has achieved 1 lakh auto dealers on its online platform.

In order to reach this target, Droom has been aggressively running seller affiliation and community building programmes to increase its network base.

The company has dedicated teams of account managers and sellers on boarding team who train new sellers who comes on board. The unique Droom University provides a one stop solution to all seller related needs and queries including more than 100 hours of online tutorials and skill development programs for auto dealers. The company's seller support mechanism deals with all kinds of post sales queries and other related questions.

500 cities, one lakh auto dealers and with eyes on achieving 1,50,000 seller mark by the end of this year are big numbers, if we consider the overall automobile market in India and its online penetration. Best part is we achieved this in 13 months in free/organic efforts. In the course of time, we want to bring even more number of cities on our platform and this would not be possible without the highly scalable and robust technology platform that we have built combined with whole suite of automobile ecosystem services tools out of which many are becoming defacto standard such as OBV, History. Innovating and growing by adopting the best of practices lies at the very core of our DNA and we are confident of achieving more such milestones soon, said founder and CEO Droom, Sandeep Aggarwal.

Presently, Droom has its presence across 500 cities in India, with 160 cities in North India, 132 cities in West India, 130 cities in South India and remaining in rest if India, across all prominent states. The company also has an adequate presence in the Tier II and III cities and towns, across the country.

Droom becomes largest auto dealers platform in India, crosses one lakh

India's pioneering online automobile transactional marketplace Droom on Monday announced that it has accomplished one lakh sellers on its online platform.

This feat has brought the total number of sellers on the marketplace platform to 100,149 and the company is confident of reaching the 1,50,000 seller mark by the end of this calendar year.

In order to achieve this ambitious target, Droom is aggressively running seller affiliation programmes to increase its network base. The company also has in its folds dedicated teams of sellers who trains new sellers who comes on board.
The one-of-a-kind Droom University provides a one stop solution to all seller related needs and queries. The company's seller support mechanism deals with all kinds of post sales queries and other related questions.
One lakh sellers, mark a watershed moment in our voyage to become the undisputed leader in the online automobile domain. I would like to thank everyone in the team who has helped us in achieving this significant landmark and our entire seller community for believing in us. Going forward we will continue to innovate and grow in order to serve customers and empower our sellers, in newer and better ways, said co-founder and VP Business Development, Droom, Rishab Malik.
We are a high-end technology backed marketplace platform with innovative proprietary tools such as Orange Book Value, Eco App, History, Full Circle Trust Score that are hugely beneficial for sellers on our platform, he added.
The company currently has sellers from 429 cities across India, registered on its platform with 85 percent hailing from Tier II cities. The portal boasts of a balanced ratio of four wheelers vs two wheeler automobile sellers. The journey to the milestone mark has been firm, often challenging, yet momentous.

Droom adds Mint Vehicles, VIP Numbers and three other categories

Online automobile transactional marketplace Droom is offering specialised categories to capture new customers. In its latest offering, Droom has added five categories -- Mint Vehicles, VIP Numbers, Odd-Even Numbers, Hard-To-Find and Old-Is-Gold which cater to a wide spectrum of customer desires.

CHENNAI: Online automobile transactional marketplace Droom is offering specialised categories to capture new customer segments. In its latest offering, Droom has added five categories -- Mint Vehicles, VIP Numbers, Odd-Even Numbers, Hard-To-Find and Old-Is-Gold which cater to a wide spectrum of customer desires.

Vehicles belonging to the Mint Vehicles category are used vehicles which are in pristine, almost brand-new condition.
It is always a desire of every young boy/girl to drive in one of those swanky cars that have cool number plates such as 007, 111 and 786. With its VIP Numbers category, Droom is catering to this need.
Any vehicle, new or used, can be fitted with a number plate of your choice. Added to that, Droom also provides its buyers a choice to buy vehicles based on whether the registration number is odd or even, according to their utility keeping Delhi/NCR's experiment with odd-even number plates.
Rishab Malik, cofounder and VP – business development, Droom, said: “Specific number plates, top-notch condition vehicles or buyers searching for odd or even numbered plates to suit their purpose, we have come across these not-so-common requests time and again. Thus we decided to provide such allied services which have become extremely popular with our buyers. These services, though subtle, end up making a huge impact on the buyers’ minds and often nudge people enough to repeat transactions.”
Apart from fancy number plates or flashy marques, there are those customers who like things vintage and/or rare. For these buyers, Droom has launched its Hard-To-Find category where one can choose to buy a rare model from a leading brand or pick up a vintage/retro car under the Old-is-Gold category, a listing full of yesteryears’ vehicles which were known for their delicate craftsmanship.

Droom ties-up with multiple service provides to ensure Road Side Assistance

Droom ties-up with multiple service provides to ensure Road Side Assistance - India's pioneering online automobile transactional marketplace Droom has given a boost to its allied services segment by signing up with some of the biggest service providers in the Road Side Assistance category, including Allianz Worldwide Partners.

India's pioneering online automobile transactional marketplace Droom has given a boost to its allied services segment by signing up with some of the biggest service providers in the Road Side Assistance category, including Allianz Worldwide Partners. The move is expected to garner more traction and better customer experience for the online marketplace in this category.
This latest agreement assumes all the more importance as it was achieved after several meetings and intense negotiations. Along with this partnership, Droom has also signed up a number of regional sellers such as Road India (RSA-500 locations), Zaiuto and Gomgarage.
The partnerships have enabled Droom to cover 477 locations across the country where it can provide Road Side Assistance to its consumers, including the metropolitan cities of Delhi NCR, Mumbai, Bangalore, Ahmedabad and Pune.
This is a major development that will impact the current fabric of the online automotive industry. With RSA being provided by brands such as Allianz Worldwide and other regional providers, confidence of car buyers from Droom will definitely enhance, leading to greater brand support, said co-founder and VP Business Development Droom, Rishab Malik.
This agreement justifies and fulfills the brand valuation of all the service providers to the hilt. We are looking forward to earning huge success with this collaboration and further provide confidence in the buyers regarding the vehicles transacted by Droom, added Malik.
Droom currently has 12 partners in its RSA services provider channels and 10 partners providing Eco-inspector services. Droom's RSA services will be available in cities including Vijayawada, Varanasi, Warangal, West Sikkim, Iruvannamalai, Trivandrum, Tiruchy, Srinagar, Rohtak, Rewari, Nagaon, Meerut, Guwahati, Ferozepur, Coimbatore, Bellary and Amravati.
To avoid confusion due to the presence of multiple RSA service providers in a particular city, Droom, like a perfect marketplace, has given the customers complete freedom to choose a partner service provider without any bias or preference, thus empowering their buyers and bringing transparency in operations.

Droom ties up with multiple service providers for road side assistance

Along with this partnership, Droom has also signed up a number of regional sellers such as Road India (RSA-500 locations), Zaiuto and Gomgarage.

NEW DELHI: India’s online automobile transactional marketplace Droom has signed up with multiple service providers in the Road Side Assistance (RSA) category, including Allianz Worldwide Partners.

The move is expected to garner more traction and better customer experience for the online marketplace in this category, said Droom.
Along with this partnership, Droom has also signed up a number of regional sellers such as Road India (RSA-500 locations), Zaiuto and Gomgarage.
The partnerships have enabled Droom to cover 477 locations across the country where it can provide Road Side Assistance to its consumers, including the metropolitan cities of Delhi NCR, Mumbai, Bangalore, Ahmedabad and Pune.
Rishab Malik, CO –Founder and VP – Business Development, Droom said, "This is a major development that will impact the current fabric of the online automotive industry. With RSA being provided by brands such as Allianz Worldwide and other regional providers, confidence of car buyers from Droom will definitely enhance, leading to greater brand support."
"This agreement justifies and fulfills the brand valuation of all the service providers to the hilt. We are looking forward to earning huge success with this collaboration and further provide confidence in the buyers regarding the vehicles transacted by Droom.”
Droom currently has 12 partners in its RSA services provider channels and 10 partners providing Eco-inspector services. Droom’s RSA services will be available in cities including Vijayawada, Varanasi, Warangal, West Sikkim, Iruvannamalai, Trivandrum, Tiruchy, Srinagar, Rohtak, Rewari, Nagaon, Meerut, Guwahati, Ferozepur, Coimbatore, Bellary and Amravati.

Struggling online auto classifieds bet on used car business to increase revenues

Major auto classifieds portals CarTrade, CarWale and CarDekho are betting big on used car business and financing of such cars as they expect this vertical to be their future growth engine even as they battle mounting losses. CarTrade, which also owns CarWale, and CarDekho, which also owns Gaadi.com and ZigWheels.com, both plan to go public by 2019-2020, senior company officials said.

"The new big business that we are focussing on is the financing for used cars in FY18," said Vinay Sanghi, CEO of CarTrade. The company launched auto finance as a service in October in partnership with banks and NBFCs to document and evaluate used cars to enable loans. "Auto finance will form 25% of our business by FY18," Sanghi said.
CarDekho is also busy building its used car business. "The new car business is our cash cow, where we are already profitable. But the growth engine for the future is used cars," said Amit Jain, cofounder at CarDekho. "I am investing in this business and I'm bleeding," he told ET.
The firm is also looking to build competencies in evaluation and financing for used cars.
Jain expects the used car business to grow almost 90% in the coming year even as the company gears up for an aggressive marketing campaign for the vertical despite rising losses.
Girnar Software, which owns and operates CarDekho and its subsidiaries, saw its losses swell more than three times year-on-year at Rs 144 crore in FY16. The company posted operational revenues of Rs 82.4 crore, 75% more than FY15.
Droom which has, till date, raised about $45 million from a host of investors, including VC firms Lightbox and Beenext, e-commerce operator Beenos, Japan's Digital Garage, Hong Kong-based investment company Integrated Asset Management and Axis Capital is also in talks with potential investors, for $30-50 million in its next round of funding, expected to close over the next few months.

Maruti Suzuki Swift, Bajaj Pulsar rule online automotive platforms: Study

The Maruti Suzuki Swift and the Bajaj Pulsar are the most popular car and bike on online platforms, found a recent study by online automobile transactional marketplace Droom.

The study, based on analysis of Droom's platform database to understand the consumer behavior on its portal, found that Swift was closely by Toyota Innova and Honda City. Swift topped the list for the second year in a row. Maruti Suzuki also scored over its competitors in terms of the overall body make.
In the bikes segment, Bajaj Pulsar emerged as the most popular vehicle, followed by Hero Passion Pro and Bajaj Discover, while Honda Active staked claim at the top of the scooter segment, beating the likes of Suzuki Access and Honda Aviator. The trends were identified from Droom's platform data corresponding to the 2015-16 period.

Maruti Suzuki Swift most popular car, Bajaj Pulsar best bike: Droom survey

Maruti SuzukiBSE -0.63 % Swift emerged as the most popular car for the second consecutive year as per a study in consumer preferences conducted by Droom, an online automobile transactional marketplace.

An analysis of its platform database further revealed that Toyota Innova and Honda City came next in line in terms of popularity among consumers.
In the bikes segment, Bajaj Pulsar emerged as the most popular vehicle, followed by Hero Passion Pro and Bajaj Discover, while Honda Active staked its claim at the top of the scooter segment, beating the likes of Suzuki Access and Honda Aviator.
The trends were identified from Droom's platform data corresponding to the 2015-16 period.
According to the report, 59% of queries and online sales closed by Droom comprised two-wheelers (41% bikes, 26% scooters). Cars accounted for 38% of total sales, whereas the rest was occupied by superbikes and supercars. Bikes on the platform were bought at an average price of Rs 43,360, while cars sold at an average price of Rs 5,76,969.
Somewhat surprisingly, petrol and CNG cars saw a dip in sales from 59% to 52% and 7% to 4% respectively from 2015 to 2016. Diesel vehicles, on the other hand, reported an increase in sales from 34% to 44%.
Hatchbacks also reported a drop in sales from 43% to 40%, while Sedan and SUVs almost remained at par to the previous year's numbers. MUVs reported a slight increase from 6% to 9%. The average time span of resold used automobiles was 5 years.
Sandeep Aggarwal, Founder and CEO Droom said, "While Indian brands and tie-ups such as Maruti SuzukiBSE -0.63 % and Hero emerged as the most-trusted brands, foreign manufacturers like Hyundai and Honda are fast catching up".
While Harley Davidson and KTM featured amongst the most popular superbikes with KTM Duke bagging the top spot, BMW and Audi shared the distinction of being the most in-demand supercars. Audi A4 again emerged as the most loved car for Delhi's rich and famous.

Online automobile dealer Droom upbeat on market potential

COIMBATORE, FEBRUARY 15:

Droom, which has emerged as the dominant online marketplace for automobiles, is aiming to double its annualised sales and gross merchandise value from about ₹1,500 crore at present to ₹2,500-3,000 crore by March 2017.

Claiming it to be the fastest growing consumer internet company in India, Sandeep Aggarwal, Droom’s founder and Chief Executive told BusinessLine that within 25 months of inception, the company registered a growth rate of 300 per cent.

Fast growth

“There is huge traction across all major metros and tier-II locations such as Coimbatore, Kochi and Vishakapatnam among others,” he said.
From just one city (New Delhi) at start in 2014, Droom has since strengthened its presence to cover 420 cities and towns in the country.
It is present in 86 cities in the south. Aggarwal plans to extend it to 150 by the close of this calendar year.
The company is targeting annualised gross sales of ₹4,500 to 5,000 crore by December 2017.
Aggarwal said, “The current experience of buying and selling an automobile is completely broken, antiquated and full of pitfalls. To address this, we took an innovative approach by bringing in more transparency, building trust and mitigating information asymmetry. It is technology driven; we have created tools and the pricing is centralised.”
Asked about the impact of demonetisation, he said, “The business dropped 45 per cent in October – November, but picked up in the months that followed. We registered a 25 per cent growth towards end-December and another 3 per cent in January.”
“We scroll through plenty of data and arrive at the price in a most transparent way.
The details are shared with the prospective buyer; we collect 2 per cent transaction charge from the buyer,” he said.

Funding details

The company has raised $45 million (₹325 crore approximately) in four rounds. Aggarwal said Droom is planning to raise the next round of capital in 2017. “It could happen in the next 6 months. We are looking at $50 million or so.”
The funds have gone into development of the company's technology platform, expansion in India and SE Asia and into building the leadership team.

This Valentine’s Season, Droom Gives Couples A Once-In-A-Lifetime Chance To Turn Their Baraat Into A SuperBaraat!

Droom, India’s pioneering online automobile transactional marketplace, just brought in a great excitement and an adrenaline rush in this year’s romantic season with its SuperBaraat campaign. Couples who are about to get married soon can register themselves on droom.in/superbaraat , a microsite launched particular to this effect. All they have to do is share their love stories which will be read by users on different social media platforms and evaluated by an independent panel of judges. Based on the social media responses and the judges’ review, a couple will be chosen where the groom gets a chance to ride into the wedding and have the vidaai in a supercar!

Only those couples who have their weddings before the 30th of April are eligible to participate in this contest. Whereas nominations are open till the end of February, the microsite will be launched on the 10th of February, on the occasion of Valentine’s Day.
In a further boost to the mood of love brewing in the air, Droom has also announced a mini-version of the campaign for those having their wedding on the 14th of February. The process remaining the same, couples would need to submit their entries by the evening of the 12th of February, which will then be judged and reviewed. The results will be declared on midnight of the 13th of February, and winners will have a supercar at their beck and call during their baraat/vidaai!
Commenting on the campaign, Sandeep Aggarwal, Founder and CEO, Droom said, “Supercars have always been an object of great fantasy, even more so today with their portrayal in movies and other shows. We decided to initiate the SuperBaraat campaign to celebrate this season of love, and gift a lucky couple an experience which they will never forget. Furthermore, the interesting combination of a conventional Indian baraat/vidaai with a flashy supercar is something even the attendees at the wedding will marvel at.”
The SuperBaraat campaign will begin on the 10th of February and hopes to get a huge response from love-struck couples vying for an experience of a lifetime. Whereas nominations are open till the end of February, Droom is already looking towards enabling the first SuperBaraat this Valentine’s Day.
Campaigns such as SuperBaraat transform weddings, which already are special occasions, into memories that resonates for a long time after the ceremonies are over.

Sandeep Aggarwal’s Droom wants to zoom towards an entire ecosystem around the car — can it make it?

The company has enough cash to sustain itself. But does it have a chance to make it big by serving the disorganised automobile retail industry?

One fine day in May 2014, Sandeep Aggarwal, founder of ShopClues, gets a call from investor and Beenos Group CEO Teruhide Sato who wants to meet him at Great Eastern Restaurant on Jackson Street in San Francisco’s Chinatown. Teruhide sounds excited about both the meeting and the setting. He animatedly informs Aggarwal that Barack Obama had chosen to visit this restaurant over others in San Francisco during his presidency. He also tells him that he is looking forward to hearing him talk about his next big business idea.

Their meeting began at 6 pm and went on till midnight until they were asked to leave the restaurant. They shifted to a Holiday Inn close by where the conversation continued well into the wee hours of the morning. Teruhide listened intently to Sandeep’s narrative about how he wanted to build a digital marketplace for pre-owned vehicles in India with a mobile-first strategy. In the end, Teruhide said, “You asked for $150,000 — I am ready to put in a million.”

Sandeep, who had spent the previous week preparing the business plan for Droom, was excited that it had been validated. The following week he met Itchak Friedman, Chaim Friedman, and Jonathan Friedman, investors from Lionbird Ventures which had invested in ShopClues. He managed to convince these investors as well, who agreed to put in $1,000,000. Says Sandeep,

With $2 million in Droom’s account, Sandeep began to expand its operations in July 2014. The two deals came as a morale booster for Sandeep who had to face the ignominy of getting arrested in the US in 2013 on insider trading charges; he was accused of leaking trade-related information when he worked as an analyst at an investment bank in San Francisco in 2011. While the case is still in court, Sandeep believes the arrest had an impact on him and that the only catharsis was in starting another company and reassuring himself that his ideas would still be able to raise money in the market.

So why did Droom's investors bet on this market? A report by the Indian Blue Book and Mahindra First Choice puts the size of the pre-owned car market in India at 3.3 million units per year. However, despite there being around 30,000 dealers just handling pre-owned cars, only 12 percent is organised.

The corresponding numbers for the two-wheeler market are five times the car market. Sandeep believes the combined size of the pre-owned vehicle market is worth over $100 billion. Even if the market size were to be $25 billion as per conservative estimates, it is worth going after, says Sandeep.

According to the Indian Blue Book, the market is 35 percent semi-organised and 19 percent unorganised, while consumer-to-consumer transactions make up 34 percent of the pie. Droom’s intentions were to get the semi-organised and unorganised into the basket. “Every company says it is going after 100 million Indians or more, but we first want 10 million loyal consumers,” Sandeep says.

Droom Today

Fast forward to 2017 and almost three years into the business, the company claims to have achieved a GMV run rate of Rs 1,500 crore. In its RoC filings, the company’s turnover is shown as Rs 17.2 crore in 2015–2016, up from Rs 9.2 crore in 2014–15. Its employee cost has gone up from Rs 9 crore to Rs 66 crore, with 220 people at present. The company’s current losses stand at Rs 14 crore.

The company claims it has one lakh businesses on its platform currently with 90 percent of its revenue coming from B2C (business-to-consumer) services and the rest from consumer-to-consumer services. “We are keeping our costs low,” says Sandeep, adding that of the money raised, he has spent less than 4.5 percent on marketing and that he would rather spend on building a tech and data sciences team. Says Sandeep

We haven’t spent any money from last round yet: Droom’s Sandeep Aggarwal

Projections of exponential revenue growth and profitability in the near term, plans of acquisitions and overseas expansion, and ambitions to grab the lion’s share of the market—ShopClues co-founder Sandeep Aggarwal has bullish claims about his second venture Droom, an online marketplace for buying and selling cars and two-wheelers, even though it is barely three years old.

In an interview with Techcircle, Aggarwal says the company saw strong growth in 2016 and will continue the momentum into 2017, ending the current calendar year with Rs 4,500-5,000 crore in annualised gross merchandise value (GMV) and turning profitable latest by February 2018. But Droom remains a frugal company, says Aggarwal, and it will raise the next round only to make sure that capital is not the reason why it can’t own 50-80% of the market. Excerpts:

What are Droom’s current offerings?
Droom is an online marketplace that acts as an enabler. We offer auctions, fixed prices and best offers. In 2016, we launched three ecosystem services: Orange Book Value, which is the first and only auto pricing engine in India; History, the largest repository for used vehicles; and Droom Eco, a used vehicle inspection service.
As for features, we have a buyer protection plan, under which we can issue a refund if the user doesn’t like the vehicle after purchasing. We have ratings and reviews for buyers/sellers as well as vehicles, and these are arrived at using multiple parameters.

How are you competing with the offline market and other online players?
The existing players in the online space are either in the classifieds or the discovery space. But, with Droom, we became India’s first end-to-end transaction marketplace, providing tools that were missing in the ecosystem. When we started, people were thinking why the world needs another company but now it’s clear that we are creating a new category.

What is your business model?
Our main source of revenue is commission on vehicle sales on the platform. That is our bread and butter, and it accounts for 85-90% of our revenue.
Besides, some auto dealers want additional services, tools and features. For them, we have something called Pro-Seller premium subscription, for which they pay us Rs 15,000 per year; though small, it is pure profit. That makes up 5% of our total revenue.
With almost 12% of India’s advertising industry accounted for by the auto sector, we are also getting some ad revenue. Besides, we have started monetising Orange Book Value, which is a premium product.
How many listings do you have on your platform? What kind of transaction volumes are you seeing?
We have so far seen around 3.3 lakh listings, including both old and new vehicles. For the first two years, we were available only in the old vehicle category since we thought we were not going to add value in the new vehicle market. About 45 days back, we entered the new vehicle category. Today, we have the largest collection of original equipment manufacturers (OEMs) on our platform.
As for transactions, in December 2016 we saw about 7,500 transactions on our platform, primarily for used vehicles.

What are your views on M&A in the space? Are you looking for acquisitions?
We will be looking for acquisitions in 2017 not for growth, net revenue or GMV, but for technology and acqui-hires. We will always look for cash acquisitions because we don’t want to dilute equity. If someone has a pricing algorithm, has aggregated automobile services using some kind of technology, or has a data warehousing team, we will be open for such acquisitions.
Our corporate development team has looked into 150 companies in the automobile ecosystem, and we have been in talks with 6-8 of them for the last three months. We may end up acquiring 2-3 companies in calendar year 2017. We have allocated Rs 30 crore-35 crore for the acquisitions.

Are you in talks to raise more funding?
We are a very frugal, data-driven company and we spend very little. We haven’t even started spending money from the Rs 200 crore that we raised last year. We have built this entire company from the first two seed rounds and the Series A round that was led by Lightbox Ventures. We will raise the next round only to make sure that capital is not the reason why we can’t own 50-80% of this market.
As for fresh funding, we have seen a lot of inbound interest in the last four months.

Do you have any plans for international expansion?
In 2017, we will look to expand internationally to Indonesia, Malaysia, Vietnam, Thailand, Singapore and the Philippines. We actually wanted to expand internationally in the last quarter of 2016, but that got delayed. By April, we will be in Indonesia and, hopefully, in every 45 days, we will be in a new country.

Will you be looking at new verticals in the coming year?
We have an ecosystem of services, including warranty, roadside assistance, insurance, car care and retailing. One of the things we are planning to launch this year is Droom Credit, a consumer loan product with a marketplace approach. When it comes to auto loans, there is a lot of time and paperwork involved, and we want to fix that problem. We also expect to add 12-15 OEMs in calendar year 2017, apart from three-wheelers and commercial vehicles.

How do you see 2017 panning out for Droom?
In 2016, Droom proved how it is different from online classifieds and discovery platforms. I think we will end FY2016-17 with Rs 2,000-2,500 crore in annualised run-rate, and exit calendar year 2017 with Rs 4,500-5,000 crore in annualised GMV.
In terms of revenue, we will clock Rs 60-75 crore by March 2017 in annualised run-rate, and Rs 125-150 crore in net revenue by December 2017 in terms of annual run-rate. Also, between November 2017 and February 2018, we should be fully profitable.

Droom expects Rs 75 cr revenue in FY'17

Droom, an online marketplace for automobiles, expects to close this fiscal with a revenue of Rs 75 crore on the back of strong sales on its platform for both new and used cars. Droom is expected to touch net annual revenues of Rs 60-75 crore by March 2017 with an annualised GMV in the range of INR 2,500-3,000 crore, Droom said in a statement. Droom is eyeing net annual revenues of Rs 125-150 crore by December 2017, it added.

"The company is targeting annualised GMV of INR 4,500-5,000 crore and net annual revenues of Rs 125-150 crore by December 2017, as it ramps up its operations to firmly consolidate its position as the best brand in the Indian online automobile market space," it said.
It added that orders placed through the platform grew from 8,232 units in 2015 to 49,974 units by the end of 2016.
"The transacted GMV on the platform also grew by 533 per cent, soaring from Rs 155 crore in 2015 to Rs 1,000 crore in 2016," it said.
The active seller base went up from 2,038 in 2015 to 15,619 in 2016.
"We aim to build upon this strong showing and continue driving massive growth for our platform through our value-driven, consumer-centric offerings," Droom founder and CEO Sandeep Aggarwal said.

Budget 2017: Automobile players want speedy implementation of GST

The automobile industry has been on a bumpy road in the last few months. When the demand for vehicles had finally started recovering, the country was hit with the demonetisation bomb which led to a slowdown in the demand again.
While the impact of demonetization was varied on different automobile companies, the industry's pace as definitely slowed down.

With about two weeks to go for the Buget, all eyes are on the Arun Jaitley to see what he may unleash to save the sector. Some players in the auto industry hope for quick implementation of the Goods and Services Tax (GST) which has been pushed back to July 1, 2017 for now.
The industry also expects simplification of taxes and a reduction to drive up sales of new cars. They expect the government to push infrastructure investment even further.
Pravin Shah, President & Chief Executive (Automotive), Mahindra & Mahindra said, "Given the situation post November 8, we expect the Finance Minister to announce a well-defined , right and prudent budget with specific focus on infrastructure, manufacturing, taxation and provide rural stimuli to revive and boost consumer, business and investment confidence. In the short term the economy has been shaken and this budget will have to bring the economy back on growth track. Hence a bold and rational budget is what one can expect ."
He added, "Specific to the automotive industry, we do expect an announcement on the extension of incentives and infrastructure development support for electric vehicles.
Further, the political support which was so critical for GST has suddenly seemed to have waned in the aftermath of the demonetisation drive. Even in its present less-than-ideal form, the GST is a big game changer and the government must bring it back on top priority by giving adequate time and clarifications to the stakeholders so as not to cause disruption to business and economic activity at large."
Mehul Agrawal- Founder, resale car company Cars24 said there was too much disparity in used car taxation and policy across states and that simplification may reduce prices, fuel demand and drive better tax compliance.
"Simplification of taxes on used car across states in the form of GST. Presently, GST law is silent on the used cars segment. We wishe the rate for used cars should be lower than new cars, since the government would have already collected tax at the time of first point of sale (this is how it happens in VAT regime too) with lesser lifetime. Hence we believe the government should consider all these factors and maintain a parity while deciding the GST for used cars segment."
Sandeep Aggarwal, Founder, Droom said, "India must enhance various policies to ensure that capital is easily accessible to entrepreneurs. Having said that, government should not intervene when it comes to funds or bank loans. Money shall be coming to India and can be repatriated easier. Make foreign listing for any Indian company straightforward rather than the company having to incorporate itself in every country individually. Give R&D credit if someone is making innovative tech product."

35 Startups That Want to Make a Big Impact in 2017

With the dawn of 2017, BW Disrupt is delighted to present the list of 30 startups to watch out in 2017. Here is a brief description about all of them.

1. AddressHealth
Founded by Anand Lakshman in 2010, Bangalore-based AddressHealth has a vision to make pediatric care easily available by providing health care services via school and clinics.

2. Affimity
Founded by Ramana Venkata, Amar Singh and Parveen Mittal in 2014, Bengaluru-based Affimity is a social networking platform for people with similar interests in food, family, and digital life to connect and share their interests.

3. Altizon
Founded by Vinay Nathan, Ranjit Nair and Yogesh Kulkarni in 2013, Pune-based Altizon Systems is an Industrial Internet Platform company with a flagship platform named Datonis.

4. Applicate
Founded by Deepak Rewadi and Ranjeet Kumar, Delhi-based Applicate provides innovative solutions to solve complex business problems.

5. BabyBerry
Founded by Bala Venkatachalam, Subhashini Subramaniam and Dev Vig in 2014, Bangalore-based BabyBerry is an application to help parents through the journey of pregnancy to motherhood.

6. Cloudcherry
Founded by Vinod Muthukrishnan, Vijay Lakshmanan, Nagendra CL and Prem K Viswanath in 2013, Singapore-based Cloudcherry is offering customer experience management tools to customer-facing brands.

7. CollegeDekho
Founded by Ruchir Arora in 2010, Jaipur-based CollegeDekho is an online platform that uses counseling and advanced technology to help students work towards their career goals.

8. CreditVidya
Founded by Abhishek Agarwal and Rajiv Raj in 2013, Mumbai-based CreditVidya aims to eliminate traditional methods of credit assessment and re-build credit scoring with advanced machine learning techniques.

9. Cuemath
Founded by Manan Khurma in 2014, Bengaluru-based Cuemath is on a mission to make math engaging through mathematical puzzles and game-like skill levels with certified teachers.

10. CureJoy
Founded by Dikshant Dave and Srini Sharma in 2013, Bengaluru-based CureJoy is a platform to get information on holistic therapies and whole food nutrition from experts.

11. DocsApp
Founded by Satish Kannan and Enbasekar D in 2015, Bengaluru-based DocsApp connects users in India with specialist MD doctors within 30 minutes over a call or chat for consulting.

12. DrivoJoy
Founded by Vishwanath Kollapudi, Ravindra Akella and Aman Singhal in 2015, Bangalore-based Drivojoy provides bike repair services anytime, anywhere by certified mechanics.

13. Droom
Founded by Sandeep Aggarwal in 2014, Gurugram-based Droom is a marketplace for trading used automobiles and automobile services.

14. ePayLater
Founded by Aurko Bhattacharya, Prasannaa Murlidharan, Uday Somayajula, Shanmunathan Thiagaraja and Akshat Saxena in 2015, Mumbai-based ePayLater is a new-age version of credit cards where customers can purchase goods and pay later on online portals.

15. Faircent
Founded by Rajat Gandhi, Vinay Mathews and Nitin Gupta in 2013, Gurgaon-Based Faircent eliminates intermediaries and help borrowers and lenders connect directly to borrow money.

16. FarEye
Founded by Gaurav Srivastava, Kushal Nahata and Gautam Kumar in 2013, New-Delhi based FarEye is a mobile technology platform that helps logistics enterprises solve critical problems faced by them.

17. Fitpass
Founded by Akshay Verma, Arushi Verma in 2015, Delhi-based FitPass is a startup and fitness membership plan that enables its users to workout anywhere in 1000+ gyms and fitness studios.

18. FlexiLoans
Founded by Manish Lunia, Ritesh Jain, Deepak Jain, Abhishek Kothari in 2015, Mumbai-based FlexiLoans is a technology powered online marketplace to help SMEs avail loans to grow their businesses.

19. FlipClass
Founded by Vineet Dwivedi in 2013, Bangalore-based FlipClass is a marketplace to connect students with teachers across the country for home and online tutoring.

20. Flyrobe
Founded by Shreya Mishra, Pranay Surana and Tushar Saxena in 2015, Mumbai-based Flyrobe provides a platform to rent branded and designer clothes for any occasion at reasonable prices.

21. Foyr
Founded by Shailesh Goswami in 2014, Hyderabad-based Foyr is the go-to place for interior designing. The startup provides end-to-end services in the cities where they’re operational.

22. Glam Studios
Founded by Sadiya Naseem, Darakhshan Husain and Feeroz Khan in 2015, Delhi-based Glam Studios is a chain of salons that allows customers to book appointments online for quality services at affordable prices.

23. GolfLAN
Founded by Dhruv Verma in 2011, Delhi-based GolfLAN provides subscription services to play golf globally in courses without membership and make the game of golf more accessible and affordable.

24. GoPigeon
Founded by Deovrat Singh, Sourav Sarkar and Yeshu Singh in 2015, Karnataka-based GoPigeon is a technology enabled logistics management company for all your shipping needs.

25. GoZefo
Founded by Arjit Gupta, Himesh Joshi, Rohit Ramasubramanian and Dheeraj Nekkanti in 2015, Bangalore-based GoZefo is set to change the world of pre-owned furniture and appliance sales. They’re currently functional in Mumbai, Delhi, Bangalore, and Mysore.

26. Headout
Founded by Varun Khona, Vikram Jit Singh and Suren Sultania in 2014, Bangalore-based Headout is an on-demand mobile marketplace that helps folks discover incredible experiences in 3 taps and 60 seconds.

27. Healthians
Founded by Deepak Sahni and Anuj Mittal in 2014, Gurugram-based Healthians.com is India’s largest health test @ home service, creating a new benchmark for quality and honest prices.

28. HealthifyMe
Founded by Tushar Vashisht and Sachin Shenoy in 2012, Bangalore-based HealthifyMe is a digital health startup with an aim to help millions of Indians on the fitness journey.

29. IndiaLends
Founded by Gaurav Chopra and Mayank Kachhawa in 2015, Delhi-based IndiaLends aims to make affordable credit accessible to the masses.

30. Jaypore
Founded by Puneet Chawla, Shilpa Sharma and Aarti Jesrani in 2011, New-Delhi based Jaypore is a platform for artisans and craftsmen from all over India to sell their products online at exceptional values.

31. Just Buy Live
Founded by Bharat Balachandran and Sahil Sani in 2015, Mumbai-based Just Buy Live is a B2R startup that enables retailers to purchase goods directly from brands along with amazing deals on their cutting-edge mobile application.

32. JustRide
Founded by Hemant Sah, Vasant Verma, Amit Sahu, Abhishek Mahajan and Ashwarya Pratap Singh in 2015, Bengaluru-based JustRide offers car rental services on an hourly, daily, and weekly basis for users to self-drive.

33. KredX
Founded by Manish Kumar, Puneet Agarwal and Anurag Jain in 2015, Bangalore-based KredX offers opportunities to SMEs to raise fast working capital.

34. Locus.sh
Founded by Geet Garg and Nishith Rastogi in 2015, Bengaluru-based Locus.sh is a highend logistics automation platform that provides end-to-end delivery route planning and tracking solutions.

35. Mad Street Den
Founded by Ashwini Asokan and Anand Chandrasekaran in 2013, Chennai-based Mad Street Den is a Computer Vision & AI startup whose first brainchild Vue.ai is one of the world's first AI solutions for retail.

Droom offers discounts to celebrate its 2nd anniversary

Customers can avail up to Rs 10,000 discount on scooters and up to Rs 50,000 off on cars.

NEW DELHI: India’s online automobile transactional marketplace Droom is offering discounts to celebrate its second anniversary.

The sale is scheduled from January 7-12, 2017 in major markets such as Delhi NCR, Mumbai, Pune, Chennai and Ahmedabad.

Scooters, bikes and cars from manufacturers such as Honda, Yamaha, Mahindra and Mahindra, Suzuki, Hero, Hyundai, Audi, and Toyota will be available at lower prices under Droom’s second anniversary sale.

In addition, Droom is also offering 50 percent discount on Roadside Service Assistance and 30 percent rebate on warranty.

Rishab Malik, CO – Founder and VP – Business Development, Droom said, "The second anniversary sale is our way of sharing the joy of success with our consumers. The deals and discounts on offer are sure to delight all our users, especially those who are waiting to own a pre-owned vehicle from a trusted platform."

Customers can avail up to Rs 10,000 discount on scooters and up to Rs 50,000 off on cars.

INDIA 100 – Top startups with gravity-defying momentum to look for in 2017

Over the year gone by, YourStory’s data science team has tracked and analysed Indian startups on the internet. Our crawlers were busy gobbling data, and we have come up with a definitive ranking of the top 100 startups that had a great 2016!

The INDIA 100 companies have demonstrated their ability to scale up, and succeeded in seizing opportunities throughout 2016. These are the startups that stayed in the news through the year and grew substantially.

Apart from the top 100 established startups in the ecosystem, every year, YourStory discovers some of the most promising and cutting edge tech startups in the country with our TechSparks and MobileSparks events.

Droom ties up with Axis bank to provide loans on new, used cars

Loans will be provided for up to 85 percent of the value of the car with a tenure of 1-5 years. Furthermore, loans on used cars can be availed on vehicles up to the age of 10 years at the end of the loan tenure.

Indian online automobile transactional marketplace Droom has tied up with Axis Bank to provide quick sanction of loans on both new as well as used cars.

Loans will be provided for up to 85 percent of the value of the car with a tenure of 1-5 years. Furthermore, loans on used cars can be availed on vehicles up to the age of 10 years at the end of the loan tenure.

Rishab Malik, Co-Founder and VP, Business Development, Droom said, "The recent collaboration is another step in our attempt to provide holistic facilities to our users and enhance the car-buying experience."

"Axis bank is globally recognised as one of the most reputed financing organisations with a successful track record of disbursing loans in a quick turn-around time. We hope that faster loan disbursal mechanism will provide customers with a buying experience that is hassle-free, secure and convenient."

"Axis Bank always endeavours to provide digital solutions to its customers, providing them enhanced customer experience and ease. This valued partnership with Droom is yet another step in our digital offerings," said Jagdeep Mallareddy, Head Retail Lending, Axis Bank.

Online auto mart Droom looking to raise $50 m in 6 months

Online automobiles marketplace Droom is looking at raising another $50 million over the next six months, in a bid to strengthen its technology play. The company plans to utilise the funds to expand its data science and analytics vertical.

Droom is also planning to use artificial intelligence (AI) to make it easier for users to find and compare the price of vehicles, thus making conversions faster on its site.

Acquisitions planned

Part of the funds will also be used to acquire start-ups working in the AI space too, said Sandeep Agarwal, founder and CEO of Droom.

The company, founded in 2014, has so far raised about $45 million from investors like Beenext (Singapore) and Japanese venture fund Digital Garage.

Agarwal, founder of e-commerce firm ShopClues, in which he is a major single shareholder, said that in a span of just two years Droom has been able to claim the position of the sixth largest online company as well as the largest marketplace for automobiles.

He claims that Droom has been able to beat competitors CarTrade and CarDekho in the automobile space, in terms of revenues and also the number of transactions. Agarwal told BusinessLine that the company is looking to clock a GMV (gross merchandise value) of Rs. 5,000 crore by the end of next year.

Its current GMV is Rs. 1,600 crore, of which Rs. 35 crore is the actual revenue of the company. Droom, which has all kind of vehicles from two-wheelers to helicopters listed on its website, has three revenue streams-automobile services, advertising, and auto-dealer/subscription model. "All the three segments (revenue) are doing well for us. This year, we expect the automobile services (10 per cent of the total revenue) and subscription model (15 per cent of revenue), to grow faster.

"I can see the subscription model to be at 30-35 per cent of the total earnings. It was at 5 per cent last year," Agarwal said, adding there are about 82,000 dealers on its site, of which about 12,000 are active users and pay about Rs. 15,000 per year as subscription.

C2C on the cards

The company, which so far had focussed on B2B business and B2C, is also looking to expand its services in the C2C space, where consumers can sell their vehicles directly to another. Players like Olx and Quikr already provide this service.

"Our competitors are either discovery or listing platforms, but we are the first transaction-based company and we are building data science and analytics to our advantage," Agarwal said. Talking about future services, Agarwal said the company would be using data science to improve its services.

For example, it has launched ‘History’, a feature from which any person can get data about a vehicle’s background, right from its make to whether the vehicle has ever met with an accident, to information related to vehicle’s insurance, loan history, theft history among others.

Droom claims to have over 83,000 B2C sellers; 25,000 products; 3,21,000 listings on its site; and Rs. 6,555 crore in listed gross merchandise value (GMV).

The company plans to become profitable latest by February 2018. It claims to have enabled 55,000 transactions so far.

In addition, the company is planning to come out with a quarterly report on the automobile industry and plans to sell the data to industry players and consumers, so that people can expedite their purchases and also get "genuine" as well as "accurate" reviews for a particular vehicle.

Droom launches India's first national repository for used cars

Monickered 'History', it curates historical data to deliver in-depth information about a vehicle's background

In a first for the country, online marketplace for pre-owned vehicles Droom has launched a national repository for used vehicles. Monickered 'History', it curates historical data to deliver in-depth information about a vehicle's background to address issues related to a vehicle's safety.

"The mark for used automobiles in India does not match up to those in the US and Western Europe because of lack of trust, owing to unavailability of verified information about a pre-owned vehicle," says founder & CEO of Droom, Sandeep Aggarwal.

"With History, we are trying to provide vital vehicle-related information to prospective buyers within minutes, fostering greater trust and transparency in this segment," he adds.

The process of generating the History report for a vehicle has been made simple. All users have to do is enter the vehicle's VIN or registration number and check for the availability of the report. If the vehicle report is available in Droom's database, users can make an online payment to get the report within half an hour.

With this, the company has vehicle information in over 18 unique data fields from 1000+ RTOs across the country. It currently has information about more than 19 crore private and commercial vehicles in its database.

"The used vehicle market in India often faces issues such as low transparency and a distinct lack of trust between buyers and sellers. We aim to plug this information gap with History," says Senior Director - Product and Technology at Droom, Somendra S. Rathore.

"Integrating disparate IT systems and producing our own data science and machine tools over the past nine months has been a colossal task, but we are confident that India will embrace a more digitally-driven economy," he adds.

Droom Launches national repository for used vehicles
Financial Express | Droom in news
Financial Express | Droom in news
Droom launches repository for used vehicles

Indian online automobile transactional marketplace Droom has launched the History - an unbiased report which curates historical data available through various authorised data providers to deliver in-depth information about a vehicle’s background.

Generated using Droom’s proprietary technology, the report will address issues related with a vehicle’s safety, trust, and value.

Sandeep Aggarwal, Founder & CEO, Droom, said, "Unlike USA and Western Europe, India is a low trust market, especially for used automobiles. Many aspects of a pre-owned vehicle, such as ownership history, title dispute, and vehicle-related issues, are non-reliable. This is largely due to the unavailability of verified information about a pre-owned vehicle. With History, we are making India’s largest information repository for used vehicles."

"By providing a report on vital vehicle-related information to a prospective buyer within minutes, we aim to foster greater trust and transparency in the used automobile segment."

Droom constantly collects and updates vehicle information in over 18 unique data fields from 1000+ RTOs across the country. History currently has information about more than 19 crore private and commercial vehicles such as two-wheelers, cars, taxi, trucks etc in its database, with real-time information of nearly 6 million vehicles from the Delhi-NCR region alone.

During the first phase of the launch, Droom will put up listings with valid RC numbers on its platform. The front-end will also be soon opened to users, giving them access to the most accurate, real-time information about used vehicles.

Somendra S Rathore, Senior Director, Product and Technology, Droom, added, "The used vehicle market in India often faces issues such as low transparency and a distinct lack of trust between buyers and sellers. With History, we aim to plug this information gap by making a standardised, central repository for used vehicle history."

"Integrating disparate IT systems and producing our own data science and machine tools over the past nine months has been a colossal task, but we’re confident that our hard work will pay off and help India embrace a more digitally-driven economy."

The process of generating the History report for a vehicle will be fairly simple. A user will have to do is enter the vehicle’s VIN or registration number and check for the availability of the report.

If the vehicle report is available in Droom’s database, users can make an online payment to get the report sent to their registered email address within half an hour. The information can then be leveraged by users to make better purchases, ensuring the security of their investment and offering them peace of mind while purchasing a used vehicle.

Droom launches 'History' to help second-hand vehicle buyers

Droom, an online marketplace for automobiles, has launched 'History' which will provide prospective second-hand vehicle buyers a comprehensive report on the product's background.

"History is an unbiased report which curates historical data available through various authorised data providers to deliver in-depth information about a vehicle's background.

"Generated using our proprietary technology, the report will address issues related with a vehicle's safety, trust, and value," Droom Founder and CEO Sandeep Aggarwal told reporters here.

He added that unlike the US and Western Europe, India is a low trust market, especially for used automobiles.

"Many aspects of a pre-owned vehicle, such as ownership history, title dispute, and vehicle-related issues, are non-reliable. This is largely due to the unavailability of verified information about a pre-owned vehicle," he said.

With History, there will be an information repository for used vehicles and will help foster greater trust and transparency in the used automobile segment, he said.

History will have information about more than 19 crore private and commercial vehicles like cars, two-wheelers, taxi and trucks in its database with real-time information of nearly 6 million vehicles from the Delhi-NCR region alone.

During the first phase of the launch, Droom will put up listings with valid RC numbers on its platform. The front-end will also be soon opened to users, giving them access to the most accurate, real-time information about used vehicles.

Users will have to enter the vehicle's VIN or registration number and check for availability of the report. If the vehicle report is available in Droom's database, it will be sent to their registered email address.

"The information can then be leveraged by users to make better purchases, ensuring the security of their investment and offering them peace of mind while purchasing a used vehicle," he said.

Droom launches History to help second hand vehicle buyers

History enables buyers and sellers to access historical information of a vehicle, derived from various sources and presented in a report-like format A user has to simply key-in the vehicle’s registration number and will get details such as the date of purchase, past accidents, change of ownership, service history, etc.

Automobile marketplace and services platform Droom on Thursday unveiled a data repository of used vehicles in India called History. The product enables buyers and sellers to access historical information of a vehicle, derived from various sources and presented in a report-like format.

A user has to simply key-in the vehicle’s registration number and will get details such as the date of purchase, past accidents, change of ownership, service history, etc. Droom claims it has data for 190 million private and commercial vehicles currently in use.

While the service is currently free, Droom expects to put a fee on it in the future, said founder and chief executive officer (CEO) Sandeep Aggarwal.

The company is investing in services—having launched vehicle price calculator Orange Book Value and vehicle inspection services under Eco—and expects to monetize some of them going forward, Mint reported on 1 December.

"We are creating an ecosystem for services which go along with the transaction of a used vehicle. In the near future we will be launching something called Droom Credit, where an auto loan decision will be taken in 30 seconds completely digitized with the help of UID," said Aggarwal.

Droom launches 'History' to help second-hand vehicle buyers

Droom, an online marketplace for automobiles, has launched 'History' which will provide prospective second-hand vehicle buyers a comprehensive report on the product's background.

"History is an unbiased report which curates historical data available through various authorised data providers to deliver in-depth information about a vehicle's background.

"Generated using our proprietary technology, the report will address issues related with a vehicle's safety, trust, and value," Droom Founder and CEO Sandeep Aggarwal told reporters here.

He added that unlike the US and Western Europe, India is a low trust market, especially for used automobiles.

"Many aspects of a pre-owned vehicle, such as ownership history, title dispute, and vehicle-related issues, are non-reliable. This is largely due to the unavailability of verified information about a pre-owned vehicle," he said.

With History, there will be an information repository for used vehicles and will help foster greater trust and transparency in the used automobile segment, he said.

History will have information about more than 19 crore private and commercial vehicles like cars, two-wheelers, taxi and trucks in its database with real-time information of nearly 6 million vehicles from the Delhi-NCR region alone.

During the first phase of the launch, Droom will put up listings with valid RC numbers on its platform. The front-end will also be soon opened to users, giving them access to the most accurate, real-time information about used vehicles.

Users will have to enter the vehicle's VIN or registration number and check for availability of the report. If the vehicle report is available in Droom's database, it will be sent to their registered email address.

"The information can then be leveraged by users to make better purchases, ensuring the security of their investment and offering them peace of mind while purchasing a used vehicle," he said.

Droom launches India's first national repository for used vehicles

In a first for the country, online marketplace for pre-owned vehicles Droom has launched a national repository for used vehicles. Monickered 'History', it curates historical data to deliver in-depth information about a vehicle's background to address issues related to a vehicle's safety.

"The market for used automobiles in India does not match up to those in the US and Western Europe because of lack of trust, owing to unavailability of verified information about a pre-owned vehicle," says founder & CEO of Droom, Sandeep Aggarwal. "With History, we are trying to provide vital vehicle-related information to prospective buyers within minutes, fostering greater trust and transparency in this segment," he adds.

The process of generating the History report for a vehicle has been made simple. All users have to do is enter the vehicle's VIN or registration number and check for the availability of the report. If the vehicle report is available in Droom's database, users can make an online payment to get the report within half an hour.

With this, the company has vehicle information in over 18 unique data fields from 1000+ RTOs across the country. It currently has information about more than 19 crore private and commercial vehicles in its database.

"The used vehicle market in India often faces issues such as low transparency and a distinct lack of trust between buyers and sellers. We aim to plug this information gap with History," says Senior Director - Product and Technology at Droom, Somendra S. Rathore. "Integrating disparate IT systems and producing our own data science and machine tools over the past nine months has been a colossal task, but we are confident that India will embrace a more digitally-driven economy," he adds.

Droom expects next phase of growth will come from two-wheelers, services segment

Droom expects net revenue to increase by December 2017, owing to rise in sales of two-wheelers, and is planning to charge for some of its services that are free currently

Delhi-based Droom Technology Pvt. Ltd, which runs an online marketplace for pre-owned vehicles, expects the next phase of growth to come from two-wheelers and the services segment, founder and chief executive officer Sandeep Aggarwal said. The company is looking to achieve profitability by late 2017 or early 2018.

The start-up claims it has a 50% market share in online vehicle sales. It offers a range of used as well as new cars, motorcycles, scooters and cycles on its platform and provides car rental services and a host of other services around vehicle loans and insurance, roadside assistance and tools to determine the fair value of a pre-owned automobile.

Droom expects net revenue—which it counts as the total revenue earned from sales commission—to increase from the current Rs35 crore to Rs150 crore by next December. This is led by a rise in sales of two-wheelers over the last few months in non-metropolitan markets.

The company charges 2% commission on the sale price of a two-wheeler and 1.5% of a four-wheeler. Commission revenue from four-wheelers are about 70% of Droom’s annual revenue in terms of gross merchandise value (GMV).

"We are seeing a massive adoption of our offering across different cities and expect this momentum to continue," said Aggarwal. Late last year, the company went on an acquisition spree, bringing sellers in tier-II and tier-III cities on to its platform. Droom claims it has over 200,000 sellers, both private and institutional, in as many as 416 cities.

"Proximity is a major influencing factor in a second-hand car deal. We have seen over 98% of all transactions happen in a 60-km radium," said Aggarwal, adding consumers were warming up to its service in cities like Ludhiana, Chandigarh, Surat, Jaipur and Vijayawada.

Droom competes with online classified portals OLX and Quikr and discovery platforms such as CarDekho.com and Carwale.com.

Droom had said it will achieve an annualized GMV of Rs3,000 crore by March and Rs5,000 crore by December next year, according to a Mint report in September. It currently sells around Rs1,600 crore worth of vehicles in a year.

The company is also seeing higher adoption of services by users and is planning to charge for some of its free services going forward.

"For every 40 products sold, we sell about 10 services. We expect this to double up by March and further up by December," said Aggarwal. The company plans to launch two more services in the near future: the first will provide a detailed history of used vehicles, including change in ownership and past accidents, and the second will help consumers get auto loans quick.

Started in 2014 by Aggarwal, who also founded e-commerce marketplace ShopClues, Droom has raised $45 million till date, of which about $25-35 million were raised from early-stage technology fund Beenext and Japan’s start-up investment and incubation firm Digital Garage in June this year.

Droom projects its net revenue of Rs. 125-150 crore by December 2017

India's pioneering online automobile transactional marketplace Droom is aiming to double its annualized sales and gross merchandise value from about Rs. 1,500 crore to Rs. 2,500-3,000 crore by March 2017 and Rs. 5,000 crore by December 2017.

The company has also announced that hitting this target will result in a proportional enhancement in net revenue from Rs. 60-75 crore to Rs. 125 crore-Rs. 150 crore.

Droom's four different revenue streams will help the company achieve its target. These include its core transactional platform of vehicle transactions, premium subscription charges, advertising and selling of products and services developed in-house, such as its highly popular algorithmic pricing engine Orange Book Value, auto inspection-verification service provider ECO and Quicksell. Moreover, Droom's consumer-to-consumer sales will be a major contributor to the increased revenue rather than business-to-consumer transactions going forward.

"Our services have generated healthy revenue, with more than 15 percent of our sellers having signed on for the subscription services and we expect these figures to increase to 40 percent by December 2017. By December 2017, we expect to achieve annualized gross sales of Rs. 4,500-5,000 crore, with a net revenue projected at about Rs. 125-150 crore. Interestingly, C2C has been a bright spot for us lately, and we see it as a significant contributor to our balance sheet," said Founder and CEO Droom, Sandeep Aggarwal.

Droom is also already in talks with potential investors to raise USD 50 million in its next round of funding, estimated to close early next year. It has already raised about USD 45 million across four rounds, from a clutch of investors, including venture capital firms Lightbox and Beenext, ecommerce operator Beenos, Japan's Digital Garage, Hong Kong-based investment company Integrated Asset Management, and Axis Capital. With next round of funding, the company also plans to expand South East Asian countries.

India's domestic automobile sector has grown immensely to emerge as the third largest in the world, valued at about USD 125 billion, with an expected jump of USD 75 billion by 2020. Droom's vision is to create, promote and increase share of the online segment in automobile transactions, which presently is at one percent of the overall figure. Expected to grow until eight percent over the next three to four years, Droom's strategic decisions are bound to help the organization scale the heights of success and for the sector to boom at large.

Droom aims to attain 100% growth in its net revenue by Dec 2017

Droom’s four different revenue streams will help the company achieve its target. These include its core transactional platform of vehicle transactions, premium subscription charges, advertising and selling of products and services developed in-house, informed the company.

Indian online automobile transactional marketplace Droom is aiming to double its annualized sales and gross merchandise value from about Rs 1,500 crore to Rs 2,500-3,000 crore by March 2017 and Rs 5,000 crore by December 2017.

The company has also announced that hitting this target will result in a proportional enhancement in net revenue from Rs 60-75 crore to Rs 125 crore-Rs 150 crore.

Droom’s four different revenue streams will help the company achieve its target. These include its core transactional platform of vehicle transactions, premium subscription charges, advertising and selling of products and services developed in-house, informed the company.

Sandeep Aggarwal, Founder & CEO, Droom, said, "Our services have generated healthy revenue, with more than 15% of our sellers having signed on for the subscription services and we expect these figures to increase to 40% by December 2017. By December 2017, we expect to achieve annualized gross sales of Rs 4,500-5,000 crore, with a net revenue projected at about Rs 125-150 crore. Interestingly, C2C has been a bright spot for us lately, and we see it as a significant contributor to our balance sheet.

Droom is also already in talks with potential investors to raise $50 Million in its next round of funding, estimated to close early next year. It has already raised about $45 million across four rounds, from a clutch of investors. With next round of funding, the company also plans to expand South East Asian countries.

Campaign logic: Allaying scapegoat fears

In its new ad campaign, used car marketplace Droom tells the buyer that she would pay the right price by using its app

Brand: Droom Budget: Rs 12 crore Agency: Contract Advertising Buying second-hand goods, more so expensive possessions, involves a leap of faith in India, given the general feeling of suspicion towards and lack of trust in the seller. No wonder, traditionally the transaction would take place between people known to each other rather than perfect strangers. But how do companies operating in the nascent but rapidly growing online space solve this old riddle? A new advertising campaign comprising three TV commercials of online used car marketplace Droom tries to tackle ...

Geared Down for Now
Tips to create your start-up by Sandeep Aggarwal, Founder - ShopClues & Droom
et now | Droom in news
Droom wants $50 million in its boot in the next round

Online marketplace for used automobiles and auto services Droom has begun early talks with potential investors, with the two-year-old venture targeting $30-50 million in its next round of funding, expected to close early next year.

The Gurgaon and Singapore-registered company has, till date, raised about $45 million across four rounds, from a clutch of investors, including venture capital firms Lightbox and Beenext, ecommerce operator Beenos, Japan's Digital Garage, Hong Kong-based investment company Integrated Asset Management, and Axis Capital Given that the company already counts a number of prominent investors that are Chinese in origin, the early players that have thrown in their hats for the new round of equity financing, are also believed to be from the same region, including Hong Kong, or have deep links to the country's pool of investors, according to sources with direct knowledge of the developments.

Sandeep Aggarwal, chief executive of Droom, declined to comment when contacted by ET. The company competes with the likes of Warburg Pincus and Temasek-backed CarTrade and Google Capital and Hillhouse Capital-backed CarDekho, among others. The discussions also come at a time when there has been some uptick in Series B and above rounds, after a lethargic 12-15 months that saw investors put away their cheque books, while at the same time, urge portfolio companies to focus on unit economics and show paths to profitability.

In a conversation with ET earlier, Aggarwal, who had earlier cofounded online managed marketplace ShopClues, had said that Droom's gross annualised sales were about Rs 1,500 crore with the company targeting Rs 2,500-3,000 crore in GMV by the end of the fiscal ending March 2017.

"By December 2017, we expect to do annualised gross sales of Rs 4,500-Rs 5,000 crore, with December net revenue projected at about Rs 125 crore-Rs 150 crore," Aggarwal said. Net revenue for year ending March 2017, according to the CEO, is expected to be about Rs 60 crore-Rs 75 crore."C2C is now picking up for us, and we see it contributing a bit more to our balance sheet than B2C going forward. Apart from that our services is expected to grow faster than automobile sales," Aggarwal told ET.

The company has four different revenue streams -its core transaction platform, premium subscription services, advertising, and in-house developed enterprise products, such as algorithmic pricing engine Orange Book Value and auto inspection and verification service provider Eco. "About 15% of our sellers have signed on for the subscription services, and we expect this to go up to 40% by December 2017," Aggarwal added.

According to industry estimates, the country's domestic automobile sector, including services, is the third-largest in the world, valued at about $125 billion, and is expected to touch $250 billion by 2020. However, the online segment currently contributes less than 1% to the overall figures, which is expected to grow to 8% over the next three to four years.

Don’t be a ‘bakra’ says Droom’s new ad campaign for Orange Book Value

The animated TVCs, conceptualised by Contract Advertising aim to help consumers in ascertaining the fair market value of any used vehicle within seconds

Buying or selling a pre-owned vehicle can be a big hassle, especially when it comes to the pricing. But what if consumers could get a fair price of a vehicle within 10 seconds, right at their fingertips? This unique proposition offered by Orange Book Value (OBV), Droom’s proprietary algorithmic pricing engine, is what the recently-launched TVC campaign highlights. With three quirky animated videos, the latest TVCs from Droom underline why OBV is the perfect tool that empowers consumers and helps them in ascertaining the fair market value of any used vehicle within seconds. The importance of OBV as a benchmark price when buying or selling used vehicles is driven home with the brand’s sharp tagline, ‘Resale ka MRP’. This ease of usage and trust factor has driven great user traction, and has seen nearly 90 million pricing queries generated through OBV’s web and mobile platforms till date.

Speaking on the launch, Sandeep Aggarwal, founder & CEO, Droom, said, "With no definitive pricing standards for pre-owned vehicles, buying and selling a used automobile in India was quite a big hassle earlier. This is what OBV, with its data science-driven approach, addresses. These ads highlight how OBV empowers consumers when making used vehicle transactions. By generating the fair market value of any used vehicle within 10 seconds, OBV ensures that no one can make a fool, or 'bakra', out of consumers, and helps in ending the debate on ‘used gaadi’ rates!"

The three videos feature an animated lion which explains to viewers how OBV works, what its value proposition is, and why users should choose OBV to get an unbiased, independent and data-driven price for pre-owned vehicles. With the videos, already having received a great viewer reception online, the TVC campaign will allow Droom to reach out to even more consumers and educate them on the benefits of OBV. The company is spending INR 25 crores on the marketing to reach users.

Team Contract Advertising said, "Buying or selling a used car is usually accompanied by a feeling of inadequacy as neither party is sure that they have got the best deal. It’s easy for the lesser informed party to get short-changed – or as the saying goes, made a ‘bakra’. OBV makes valuation of used cars so simple, quick and objective that a deal can be reached within seconds. So, nobody can make a ‘bakra’ out of you. That’s the simple idea behind this campaign."

Using OBV to determine the value of a vehicle is very simple. All users have to do is select their purpose (buying/selling), select vehicle category, and parameters (make, model, year, condition, trim, and km driven etc) in order to get an independent, unbiased and data-driven report on the fair value of any vehicle.

Droom zooms to greater heights; expands its services to 200 cities

India's pioneering online automobile transactional platform Droom has announced the expansion of its services into 200 cities. The latest milestone, achieved in barely 19 months since its operational launch, was driven largely by the greater adoption of Droom's tech-driven platform which makes by buying and selling vehicles more transparent and convenient for users across the country.

"I believe there is a massive opportunity for technological innovation in the Indian automobile space, as can be seen by the growth and the user traction witnessed by Droom since its launch. Through our unique, tech-centric approach, we have been addressing major market gaps and making the automobile buying and selling experience smoother and more convenient," said Co-Founder and VP Business Development Droom, Rishab Malik.

"Our dedicated focus on technology has made it possible for us to coordinate all of our operations from our headquarters. We are currently the only player in the e-commerce industry in hyperlocal market to have achieved such scale without having to deploy people in any other city," added Rishab.

In addition to establishing itself as the preferred online portal for buying and selling vehicles in major geographies, Droom's digital-first marketplace approach has also received great response from users in emerging markets from Tier I to tier III cities.

This has allowed the brand to rapidly expand its services in multiple cities through its extensive dealer network without having to establish a physical presence. Droom has successfully received orders from Ludhiana, Ahmedabad, Roorkee, Jaipur, Bhatinda, Thane, Chandigarh, Meerut, Nasik, Agra, Udaipur, Karnal to name a few.

Having launched its operations in January 2015, the exponential growth and scale since witnessed by Droom has firmly established it as a leading player in the Indian online automobile industry.

Droom currently has more than 78K+ B2C dealers selling 25K+ products to users through its platform. With 121K+ vehicle listings and GMV worth more than Rs. 6,555 crore already listed, Droom will be looking to build on its success by expanding into more geographies and markets, both India and abroad.

Droom spends Rs. 25 crore on its media campaign for Orange Book Value

Anyone who has ever sold a vehicle, or bought a pre-owned one, knows the hassles related to the most important aspect of the deal – the pricing. This gap is what makes Droom’s Orange Book Value, an algorithmic pricing engine, such a disruptive phenomenon in the automotive resale space. To firmly establish OBV’s game-changing stance as an industry benchmark in the realm of automobile buying and selling, Droom has rolled out its mega marketing campaign titled ‘Resale Ka MRP’. With a massive budget of INR 25 crore, Droom is betting big on the dedicated 360-degree integrated media blitz to enhance consumer salience about OBV and how it can completely alter the dynamics of the industry.

The idea behind the logo is that through our communications, we are passing a message that the price of used vehicle should be same for seller and buyer, reducing the negotiations between them and OBV provides that required pricing standard. The two dots in the middle of O in OBV signifies eyes and the two upper and lower halves of O signify the smiles of buyer and seller respectively. We have associated with orange color since start and we have maintained the same in the new logo for the energy and warmth it signifies. We have added blue color which signifies trust, peace, intelligence and loyalty to provide appeal to both sellers and buyers. The fonts and typeface has been chosen to be viewer friendly as well emit authority of being the used product pricing standard.

Speaking on the announcement, Sandeep Aggarwal, founder and CEO, Droom, said, "With the demand of pre-owned vehicles in the country outstripping that of new vehicles, there was a pressing need for an objective pricing mechanism. Through its data science-based approach, Orange Book Value gives a fair market value of a used vehicle under 10 seconds. With the ‘Resale Ka MRP’ campaign, we wish to underline how this algorithmic engine does away with all the discrepancies that have plagued this segment so far with non - standard pricing. We are confident of the game-changing potential of OBV and have therefore decided to support it with a dedicated media blitz that will enable more and more consumers and auto dealers to leverage the 21st century tech and data science pricing tool."

Team Contract, the ad agency behind the concept of the OBV TVC, added, "The Diwali season is a time when every brand is trying to enter consumer’s mind space with gifting and home improvement ideas. But Diwali is also a time when friends get together and conversations take every direction. We decided to use an interaction between friends to showcase how opinions can often differ when it comes to agreeing on the value of a used car. Valuation of a used car is such a subjective and open discussion that there is hardly ever an easy agreement on it. This film beautifully captures one such conversation at a Diwali get together, and strongly underlines how a concept such as OBV can make this debate obsolete!"

Droom’s latest marketing initiative kicks off with the launch of an OBV Diwali video, which revolves around a Diwali-time discussion between friends about the value of a pre-owned car, as well as two animated ‘how-to’ videos about OBV. With the campaign already maintaining a sustained presence through social media platforms such as Facebook and Youtube, Droom will be following it up with a 360-degree campaign comprising TVCs, radio and outdoor media, and digital media.
Using OBV to determine the value of a vehicle is very simple. All users have to do is select their purpose (buying/selling), select vehicle category, and parameters (make, model, year, condition, trim, and km driven etc) in order to get an independent, unbiased and data-driven report on the fair value of any vehicle. This ease of usage and trust factor has driven great user traction, and has seen nearly 90 million pricing queries generated through OBV’s web and mobile platforms till date.

Taking Pride in Pre-owned Vehicles

Droom, an online marketplace to buy and sell used cars, bikes, yachts and even private jets is today a Rs 1,200 crore company. Sandeep Aggarwal, Founder & CEO, Droom, talks about the strategies that went into achieving this

Q] Droom is planning to invest Rs 100 crore on its promotional campaign this year. Tell us more about your plans.

We have already started spending a part of the Rs 100 crore. We will spend around Rs 40 crore on our TVC, Rs 20 crore in various ATL-BTL activities and another Rs 40 crore on Digital, out of which two-thirds will be invested in Social Media and videos. We recently completed shooting our campaign for TV, Outdoor and Radio which will run for around 45 days. From November 1, we will launch our next set of ads for TV, Outdoor, Print and Radio. The third set of ads will be launched sometime in March. Through our campaigns, we aim to instill and increase the joy of owning pre-owned vehicles.

Q] You recently announced that Droom would also sell new cars. What advantage will Droom have over e-commerce players who are already in the field?

Most e-commerce players in the market today sell all kinds of products because their gross merchandise value (GMV) has dried up and they aren’t seeing growth. For example, an average order size of Shopclues is roughly Rs 1,900. For Flipkart and Snapdeal, my guess is that their average order size will be around Rs 3,500. So now, when you suddenly sell a motorcycle or car, your average selling price becomes Rs 75,000 or Rs 3 lakh. At a time when the GMV growth of these companies is dissipating, many start selling tyres, gold or even vehicles. However, we did not want to get into offering new vehicles initially, because we thought we wanted to go there when we could add some value. Currently, the value we are adding is – a 50% loan guarantee and a promotional campaign where there is 0% interest rate, a test drive at your doorstep and tie-ups with companies to give away freebies. We are also working on several innovations which we will soon announce. The moment of truth in buying and selling vehicles is trust, transparency and pricing, and that’s what we are communicating through our marketing messages.

Q] Since trust is a crucial factor, how are you convincing consumers to buy products from Droom?

We have built a lot of things which were not there in the Indian eco-system. For example, we created Orange Book Value, India’s first and only algorithmic pricing engine. Before this, valuing used vehicles was like pulling a number out of a hat. We spent 13 months and millions of dollars and have created an extremely advanced algorithmic pricing engine. Based on the make, model, year, kilometers done and condition of the vehicle, I can tell you the value of the vehicle. In the last eight months alone, we have seen 85 million pricing queries through the tool. We created another app called Eco. Any mechanic can download Eco, take an online exam and become an Eco-certified technician, following which he will start receiving orders from Droom. We have also launched a program called Full Circle Trust Score that uses data sciences to build trust.

Q] Droom offers products ranging from cycles to even yachts and private jets. What kind of reception has it got?

We offer vehicles like jets, yachts and even premium cars like a 1937 Austin. We have 1970s Lambretta scooters too, along with vintage and superbikes. Droom has been commercially available since January 2015. Today, we are actually doing Rs 1200 crore in analysed GMV. In my view, there is no other consumer Internet company in any category that has gone from 0 to Rs 1200 crore in gross revenue in 12 months. Secondly, our GDP is growing at the rate of 7%, new vehicles are growing at the rate of 9%, used vehicles are growing at the rate of 15%, e-commerce is growing at the rate of 30%-35%. And Droom, even at Rs 1200 crore, is growing at the rate of 700% year-on-year. So, we are growing 100 times better than the national average, and almost 50 times faster than the used vehicles market growth. Till September, we were only available in New Delhi but now we are present in 167 different cities. We have across 70,000 auto dealers who have used our platform and almost five million monthly visitors are coming to us through various apps.

About the brand

Q] After Shopclues, how did Droom come about?

I would not have started Droom if India did not have Quikr, OLX, CarDekho, Carwale and CarTrade. Our country needed online classifieds as well as discovery platforms which are more of media play. We are the only transaction platform. In the US, first came the retail stores, followed by organized retail stores, catalogue and then e-commerce. It was a natural evolution. In India, there was no organized retail, no catalogue. To some extent, e-commerce is leapfrogging it. Almost 100% of the automobile business is unorganized. Online classifieds are present in over 150 categories, offering free listings. Discovery platforms are offering some content and lead generation. But the moment of truth in buying and selling used automobiles is again, trust and transparency in pricing. With Shopclues, I was a late entrant, being the 35th e-commerce company. In the first six months, we became the fourth largest. Here, we are No. 1. India is the third largest automobile market in the world, a $125 billion annual industry, and 0.3% of that is currently online. We own half of that. We almost created this category. The remaining half is enabled by the classifieds and discovery platforms. This industry will go from $125 billion to $250 billion by McKenzie estimates. Our estimate is that this 0.3% will become 8%. We are trying our best to own 50% if not 100% of that. Right now, we have no competition, and 3-4 years ahead of anyone in terms of technology and use of data science.

Q] What are the challenges for the category?

A lot of classifieds had advertised heavily and made a lot of misleading promises back in 2013-14. They had made promises which they were not capable of fulfilling. So we had to work hard when we started, but people started understanding our value proposition. Also, we need a lot of good talent which is not always easy to find. Thirdly, since we have grown very fast, we don’t have a lot of systems and processes in place and are always looking out for people who require little hand-holding and can start contributing from day one. We also want to build data which has been missing till now in the Indian eco-system. Currently, we are working on History which will give you the history of any vehicle. The problem is that currently all the data exists, but with different sources, and it is difficult to bring all of that under one roof. The government has a lot of data at its disposal. Had such data been available to us, it would be so much simpler to help buyers because they could have the complete history of the vehicle.

Q] Did a lot of learning from creating Shopclues go into creating Droom?

It’s almost like Darwin’s Theory of Evolution. When I started Shopclues, I hadn’t lived in the country for more than 15 years. Then, a lot of firsts happened to me - living in India after 15 years, becoming an entrepreneur, un-learning Silicon Valley and learning India’s ways. During Droom, I did not have to go through any of these. I already have a big network. When I started Shopclues, I gave Rs 5 lakh in cash to someone who ran away with the money without building my office. Hopefully, I will not make such mistakes again. When I created Shopclues, it was three years ahead of its time. When I started Droom, it was five years ahead of its time, and I could do that because I created Shopclues before. There is a higher use of data sciences and technology now. At Rs 1200 crore, we only have 176 people. When Shopclues was worth Rs 1200 crore, it had 900 people.

Q] What will your marketing strategy be for the next few years?

Our biggest marketing strategy is to increase the sense of pride and joy of owning a pre-owned vehicle because people are uncomfortable about using such vehicles. There is an anxiety about the vehicle’s condition too. Secondly, we have built Full Circle Test score and Eco and we will also be working on two other products that will be launched later in the year. Our marketing strategy is to increase awareness about these tools available both on and off Droom.

The hot sellers
Droom sale: Audi priced Rs 8 lakh, Royal Enfield Rs 71,200, Hyundai i10 at Rs 1,40,000; Celebrate Diwali, here’s how

If you have a prolonged plan for a long drive in an Audi with your loved ones or you want to bring Royal Enfield classic to home this Diwali, this is the best time to fulfill your dream.

If you have a prolonged plan for a long drive in an Audi with your loved ones or you want to bring Royal Enfield classic to home this Diwali, this is the best time to fulfill your dream. (Website)

If you have a prolonged plan for a long drive in an Audi with your loved ones or you want to bring Royal Enfield classic to home this Diwali, this is the best time to fulfill your dream. Online automobile transactional marketplace Droom is out with promotions such as Diwali Wheel of Fortune, Karva Chauth Special and Bhaiya Dooj to woo customers with massive discounts. The buyers will get Audi at Rs 8,00,000, Royal Enfield classic at Rs 71, 200, Bajaj Pulsar at Rs 13,000, Honda Activa at Rs 12, 000, Hyundai i10 at Rs 1,40,000.

Droom is also offering an Android phone and shopping coupons from ShopClues on select purchases, while all vehicles bought under this offer will also come with an offer of 50% off on Roadside Services Assistance. Second big offer, the Diwali Wheel of Fortune, also promises a plethora of great deals, discounts and offers between October 26 and October 31, with customers availing discounts of up to INR 50,000 off on Cars, INR 20,000 off on Bikes, and INR 8000 off on scooters. Customers can also spin the Online Wheel of Fortune and get a chance to win spectacular gifts such as a Thailand trip, OnePlus 3 phone, an Air Safari (paragliding) package, branded 2 gm gold coin, helmets, car perfumes and a flat 50% off on Zoomcar rentals. All these promotions are available on pan-India basis in around 180 cities, with the best-selling models from the most renowned automobile houses in the world available during the month-long carnival of great discounts and attractive deals.

Carrying on the festive fervor further, Droom is offering a Karva Chauth Special under its Delhi Auto Fest between October 17 and October 19. Available in locations across North India, buyers can easily avail discounts of up to INR 40,000 on cars, INR 20,000 on bikes, and INR 8,000 on scooters. Furthermore, a romantic evening at a fine-dining restaurant is up for grabs with a GroupOn dining coupon worth INR 3000. One can also avail chopper rides during this day with best rentals listed on the website.

The offers however, do not end here. Following the conclusion of the Diwali Sale is the Bhaiya Dooj offer on November 1. A discount of maximum INR 11,000 is available pan-India on some of the best scooters from the most famous brands across the world.

Droom to spend Rs 10 crore on marketing; launches a month-long auto festival

New Delhi: With the festive season just around the corner, Droom, online automobile transactional marketplace, is taking the celebrations up a few notches by allocating Rs 10 crore as its marketing budget. The move is aimed at driving 30-35 percent growth during the festive season and coincides with the launch of its Auto Festival, which showcases the latest cars, bikes, scooters, super bikes and premium cars at unbelievably affordable prices, a company press release said.

Commenting on the announcement, Rishab Malik, Co-founder & VP – Business Development, said, "Droom is currently receiving 5,000 orders a month, which includes vehicle purchase and automobile-related services. With Dhanteras and other auspicious occasions just around the corner, we expect to drive consumer demand by 30-35 percent this month.

"We are spending Rs 100 crore on marketing this year, out which Rs 10 crore has been allocated for festive promotions," said Malik.

Droom Auto Sale kicks off with promotions such as Grand Auto Sale, Diwali Wheel of Fortune, Karva Chauth Special and Bhaiya Dooj launched to lure its customers with discounts. Grand Auto Sale will be live between 6 October and 11 October with discounts of up to Rs 50,000 on cars, Rs 20,000 on bikes and a maximum of Rs 8,000 on scooters.

Buy new or old, Droom has your back!

Snapshot: With its latest entry in the new car selling space, Droom has been gaining a strong hold in the used car market. Tools such as Orange Book Value and easy loan facilitation will further enhance the growth of this online buy/sell portal.

Buying a used vehicle in India is a complex affair as the variables to be considered are considerably upgrading. You cannot just read basic facts about your next purchase, like kilometre mileage, year of purchase and service history, and jump to a conclusion of buying your next car. As we progress on to better systems of judging used items, cars too need to undergo immaculate observations to be passed as genuine and worthwhile purchases. Until now most companies that deal with chalking out vehicle history and its health have been somewhat vague with information. Enter Droom’s Orange Book Value.

Before you know about Droom and their hocus pocus Orange Book, you need to know a bit about Droom in case you don’t already know it. In the spring of 2014, Droom established itself as one of the largest marketplace to buy and sell automobiles and related services. You can purchase both old and now even new autos from Droom as their latest initiative. Its presence on both iOS and Android platforms on mobile gives it a very wide spread reach to a lot of audience. In fact their success is reflected by the fact that they have accumulated 74K+ B2C sellers displaying 25K+ products. Droom has scaled its Facebook likes to 2.5 Mil+ Likes which is commendable for a recent entrant. They were able to sell 30K used vehicles in a span of just 18 months growing by 700% year on year generating a swelling revenue of Rs 1200 crores.

Why buy new cars from Droom?

After you have made yourself a visible face in the market, it is time to venture into new horizons. Droom got popularity for used vehicle purchases, but now they facilitate new purchases as well. But then many others are doing it, what do you gain with Droom? The company has created a new category that will include a bank loan 50% of vehicle value pre-approved with door-step test drive. Onboard brands associated with Droom include Nissan, Chevrolet, Skoda, Mahindra and e-vehicles from Hero Electric. The leading light at Droom, Sandeep Aggarwal, who is the Founder and CEO expresses his joy and excitement on entering new car selling space and is hoping to bring order to an uncluttered segment of buying vehicles.

And yes, to keep it simple for you and not piling you up with a million papers to sign, the loan approval process has been streamlined and shortened by the company. In a bid to ensure buyers are not discouraged by loads of paperwork, Droom has tried to keep the loan approval process short. Application requisite for loan needs proof of Indian citizenship, birth/age proof for verification as an adult, 18 months of professional experience and a government recognised photo-id.

What is Orange Book Value?

The word fair is still in short supply in the Indian used car market. Droom has come up with a state-of-the-art algorithm based pricing engine to gauge fair market value of used cars, which is called Orange Book Value (OBV) in their terms. Sounds technical, and it is. This OBV a tool built based on Droom’s data and algorithm development that still has its patent pending. For the lay man, OBV is a pricing engine that checks the price of a vehicle based on smart algorithms and historic data which you may download and compare before a purchase. Using it is fairly simple too, simply select if you want to buy or sell, select category and narrow it down based on relevant parameters and generate an OBV report. This tool enhances and streamlines judging vehicle values in an uncluttered market. At least you get a valid datum point to begin with.

Droom is empowering customers to clearly observe minute details about their next used purchase, and also ease them buying a brand new one. The OBV database will start swelling up with time to provide even more concise data as more models and partners join in. It is a bold move by Droom and an applaud is in order for them to stack a chaotic shelf. With a bucket of nearly 50%of user traffic handled by Droom things look bright for the company.

Droom set to invest Rs. 10 crore on its latest marketing campaign :Launches a month-long auto festival

With the festive season just around the corner, Droom, an online automobile transactional marketplace, is taking the celebrations up a few notches by allocating Rs. 10 crore on its marketing budget. The move is aimed at driving 30-35% growth for Droom during the festive season and coincides with the launch of its auto festival, which showcases the latest cars, bikes, scooters, super bikes and premium cars at unbelievably affordable prices.

Commenting on the announcement, Rishab Malik, co-founder and VP – business development, Droom, said, "Droom is currently receiving 5000 orders a month, which includes vehicle purchase and automobile-related services. With Dhanteras and other auspicious occasions just around the corner, we expect to drive consumer demand by 30-35% this month. We are spending Rs. 100 crore on marketing this year, out which Rs. 10 crore has been allocated for festive promotions. Our Droom assist team has been receiving about 1500 queries on a daily basis even before the sale kicked off, underlining the excitement Indian consumers have during the festive season and their trust in Droom’s diverse offerings."

He further added, "It is the season of festivals and we, at Droom, hope to make it as grand as possible for our users. With some outstanding deals and discounts, this month-long sale is aimed at contributing to the festive cheer all around. With the rise in disposable income, we have seen the demand for vehicles in every household is increasing. Consumers want more for less and increasingly prefer pre-owned vehicles over new vehicles, as it allows them to purchase a premium vehicle within the same price range. This is why we’ve launched our latest marketing campaign. With massive discounts and exciting deals, we are looking make this festive season extra special for Indian consumers by allowing them to purchase their preferred vehicles at the most affordable rates."

Droom accelerates Rs 100 crore monthly GMV in 19 months

One of the fastest growing web-based companies, Droom has already registered over Rs 1,200 crore in annualized GMV, with plans to achieve Rs 3,000 crore by March 2017 and estimating a colossal growth to the tune of Rs 5,000 crore by December 2017.

NEW DELHI: Country's pioneering online automobile transactional marketplace Droom continues to ride the wave of success with its disruptive innovations and strategic approaches.

In a massive business achievement, the online automobile portal has been able to successfully clock a monthly gross merchandise value (GMV) of Rs 104 crore in a short span of 19 months.

One of the fastest growing web-based companies, Droom has already registered over Rs 1,200 crore in annualized GMV, with plans to achieve Rs 3,000 crore by March 2017 and estimating a colossal growth to the tune of Rs 5,000 crore by December 2017.

The achievement has become all more impressive as Droom has spent only 3.75 percent of the entire GMV value to run the entire organization including marketing. With their innovation engine running on an overdrive mode, Droom is expected to crunch some big numbers again within a span of five to six months.

"It feels extremely satisfying to achieve, and exceed the numerical goals we had set for ourselves. At a time when the auto industry has witnessed new vehicle sales improve by nine percent Y-O-Y and used-vehicle segment pick up by 15 percent Y-O-Y while the e-commerce companies register a growth rate of 35 percent Y-O-Y, Droom has been able to 700 percent Y-O-Y growth," said Founder and CEO Droom, Sandeep Aggarwal.

Droom first crossed the 100 crore barrier by generating a Rs 104 crore GMV, or USD 17.3 million, at a constant currency exchange rate of Rs 60/USD. Reporting a 30 percent month-on-month growth, it has also set a precedent of incurring low marketing costs by spending a mere 4.5 percent of the total allocation and yet achieving such enormous expansion figures.

Will you drive in a new car this festive season?

With offers and discounts galore on new cars at this time, buyers can be spoilt for choice, but don’t rush in without knowing the pros and cons of buying at this time

The festive season is upon us and many of you would be planing to make big-ticket purchases, such as a house or a car. In fact, car sales usually jump up during this time, with almost a third of the year’s sales coming in the three-month period between September and November. Many buyers wait for this time of the year, in part due to the deals and offers that manufacturers usually offer.

"Buyers have an extensive range of special offers and discounts waiting for them. Since it is considered auspicious to buy metal around Dhanteras and Diwali, a lot of users opt for four-wheelers," said Rishab Malik, co-founder and vice-president, business development, Droom, an online marketplace for automobiles.

This time around demand is expected to be higher, as the monsoon has been generous and government employees have also got additional liquidity with the 7th Pay Commission payouts. "We have had a good season this year and the sale of four-wheelers has picked up from Ganesh Chathurthi onwards. The same movement will gain further momentum as the festivities continue," Malik added.

Is this a good time to buy?

You might be someone who is looking to buy your first car, or looking to upgrade to a better car, or planning a second car. For all of you, here’s a look at the deals and discounts this season, and some tips on buying your dream car.

Brands roll out some of their best offers at this time. "But there are also two other times of the year when consumers can get equally good offers: end of the calendar year and the period around April-May," said Dhruv Chopra, chief marketing officer, CarWale.com, an online marketplace for cars.

Many buyers tend to hold off buying towards the beginning of the calendar year, so as to get a better price when they sell it. In April and May, demand tends to dip as it is just after the financial year has closed and many buyers also feel they should not buy a car just before the monsoon. "In both the above seasons as well, brands roll out aggressive offers to entice buyers," Chopra said

What should you look out for

While discounts on many cars are high in the market, it is not right to expect a discount on best-selling new models. Another simple parameter is the waiting period for a car. If the car you are looking to buy has a waiting time of more than 4 weeks, it is unlikely to have a discount. Cars such as Maruti Suzuki’s Baleno, Tata’s Tiago and Renault’s Kwid are much in demand and customers have to wait for weeks to get deliveries. So, no discounts here (see table).

While discounts on many cars are high in the market, it is not right to expect a discount on best-selling new models. Another simple parameter is the waiting period for a car. If the car you are looking to buy has a waiting time of more than 4 weeks, it is unlikely to have a discount. Cars such as Maruti Suzuki’s Baleno, Tata’s Tiago and Renault’s Kwid are much in demand and customers have to wait for weeks to get deliveries. So, no discounts here (see table).

Apart from simple cash discounts, you can expect a host of other benefits. "Buyers should openly ask dealers for additional discounts in the form of insurance premium reduction, lower interest rates on loans, special financing schemes, exchange bonuses, loyalty bonuses and discounts on accessories," Chopra said. More schemes are likely to be introduced by manufacturers as the festive season progresses.

According to CarDekho.com, exchange bonus is currently available on 68% of the cars being sold in the market while loyalty discount is available on 8% of the models.

"Buyers can get the loyalty discount if a same-manufacturer car is available with any of their blood relatives,"said Umang Kumar, president, CarDekho.com. If you don’t qualify for loyalty discount, you can also negotiate with dealer to convert this discount to a cash discount.

Beware

While the auspiciousness factor is taken care of when you buy a car during this season, there is a possibility of having to pay a small premium for that. "As a car is purchased towards the end of the year, its resale value will be less, compared to one purchased in January (next year)," Kumar said. Moreover, as a large number of buyers opt for specific delivery dates, it could have an impact on the delivery experience as well.

So, study the market and make the most out of the deals available this season.

Unicorn Decodes 2 Unique Ventures - Droom and Kraftly

Unicorn puts the spotlight on two startups: Droom is an online automobiles marketplace that comes from the founder of another Unicorn startup, Shopclues. So we investigate if Droom too will taste the same success. And our second startup, Kraftly, aims to be the Paytm for home entrepreneurs. Kraftly is a marketplace for all things unique, where customers can bargain directly with shopkeepers.

Read More
Small time e-tailers drawing up big plans

Undaunted by their bigger counterparts, Voonik, ShopClues and their ilk are trying every trick of the trade to cash in on big festival spends

The e-commerce space is bristling with action. Not just the biggies. Even small players are chalking out their own strategies for their share of the pie of the big bang festival sale. Discounts, better product portfolios, media campaigns, free services and even finance offers—smaller or vertical players are leaving no stone unturned to woo as many customers as possible this festival season. Interestingly, they have quietly timed their sale to avoid a clash with their bigger counterparts Flipkart and Amazon, which have gone for high decibel mass-media campaigns and huge discount offers. In fact some of the vertical players have already started their sale season.

Shopclues is going for 10-day festive sales which will go on even after the biggies have closed theirs. ShopClues hopes to grow its festive season revenue by 100 per cent over Rs 1,500 crore it made during the season last year. ‘Almost 15-20 per cent of total market spend on Diwali is allocated for sellers’ initiatives like Big Business Boom, AdZone etc. We target to get Rs 200 crore of loan disbursed to our sellers during the season. We have tied up with over 40 logistics partners to give us four times per day load capacity. We have done 100 per cent end-to-end technology integration and automation with all partners whereby real-time tracking is available from the pickup to final delivery. Real-time load allocation to logistics partners basis algorithm data analysis of last three years trends around turnaround time, service levels and capacity of logistics partners,’ said Nitin Agarwal, AVP & Head of Marketing at ShopClues.

Droom, the automobile marketplace has day-specific offers. "We have offers in place for Gandhi Jayanti, promotional offers on scooters during Karva Chauth, and exciting deals on two-wheelers and four-wheelers around Dussehra and Diwali," said Rishab Malik, Co-founder and VP, business development, Droom.

Instead of one big sale, Craftsvilla will have two grand sales - ‘Craftsvilla Grand Festive Sale’ scheduled between October 1 and October 5, 2016 and the ‘Craftsvilla Grand Diwali Sale’ scheduled between October 12 and October 16.

As far as Myntra is concerned, it is participating in Flipkart’s Big Billion Day Sales. After being acquired by Flipkart, this is the second year in a row that it is becoming part of BBD and expects five times sales during the period. It will have discounts of up to 70 per cent on 2.5 lakh styles and designs, shoppers can prep up for the season’s biggest ever fashion sale.

ShopClues has partnered with CashCare Technology, a Mumbai-based fintech company for its zero cost EMI scheme that comes without any interest and processing fee. The zero cost EMI scheme will mean extra advantage and can be availed of on products priced at Rs 5,000 and above. The financing offer is valid on purchases made till November 15, with Rs 500 cashback on the 1st EMI payment. ShopClues also plans to run a pre-approved sale, where a consumer can get the loan approved instantly and schedule the purchase later as per his/her convenience during the festive season. With a credit limit of up to Rs 2 lakh, a customer can use CashCare to buy his/her favorite product from ShopClues and pay over the next few months instead of paying the full price upfront.

"We are going to deliver free services on certain products along with free accessories. For instance, we are giving away 250 helmets at Rs 9 each and are bundling auto loan and insurances with different types of promotions," said Rishab Malik of Droom.

eBay is highlighting the number of products it has in its shopping list. "When we found out that ebay has over 10 crore products, we knew it had to speak not just like a category leader, but as a conversation and thought leader. And eBay team really encouraged us and helped us find that voice. After an amazingly explorative and collaborative process we arrived at the idea - Things Don't Judge," said Hemant Shringy, executive creative director of the campaign.

Droom, CashCare tie-up to offer hassle-free buying process for customers

This association will provide zero percent APR introductory offer that makes buying new vehicles on EMI extremely attractive.

NEW DELHI: Second hand automobile transactional marketplace Droom has announced its partnership with CashCare, a consumer lending platform to make buying process completely hassle-free for customers.

This association will provide zero percent APR introductory offer that makes buying new vehicles on EMI extremely attractive.

To ease out the financial burden, Droom and CashCare have also decided to offer pre-approved loans to eligible buyers. Loans of up to 70 percent of the value of the vehicle are available with a loan period of three to 12 months.

"With the launch of the new vehicles category, we also decided to make the accessibility of the products greater. To this end we are pleased to associate with CashCare and help fulfill the dreams of many of our customers in a quicker and more efficient way," said Co-Founder and VP - Business Development Droom, Rishab Malik.

"Droom has emerged as a significant market innovator in the automobile buy/sell market. As a real-time finance provider, CashCare understands car buyers' needs for hassle-free and quick disbursal of loans," said CashCare Founder and CEO, Vikas Sekri.

Droom Partners With Real-Time Lending Platform CashCare

If you’ve been planning to purchase your dream car this festive season, your wishes have been granted. Droom, Indian online automobile transactional marketplace has entered into a partnership with CashCare, an innovative consumer lending platform where short-term loans are provided on a real-time basis. Coinciding with the availability of the latest range of four-wheelers and bikes from colossal names in the automobile industry such as Chevrolet, Skoda, Nissan, Datsun, Mahindra and Hero Electric on Droom, this association hopes to make the buying process completely hassle-free for customers. The most significant aspect of this association is the incredible 0% APR introductory offer that makes buying new vehicles on EMI extremely attractive.

To ease out the financial burden, Droom and CashCare have also decided to offer pre-approved loans to eligible buyers. Loans of up to 70% of the value of the vehicle are available with a loan period of 3-12 months. With these offerings, CashCare has provided a golden opportunity for buyers who are on the verge of purchasing their first vehicle but were being encumbered by financial constraints.

One of the biggest features of this collaboration and the introductory offer is a 0% Annualized Percentage Rate on the loan amount on the vehicles. This feature makes it all the more attractive for buyers who are apprehensive of interest charges while buying a car. A dealership that provides 0% APR is one of the most amazing deals customers can get this festive season.

Rishab Malik, Co-Founder and VP – Business Development, Droom said, "With the launch of the new vehicles category, we also decided to make the accessibility of the products greater. To this end we are pleased to associate with CashCare and help fulfill the dreams of many of our customers in a quicker and more efficient way. The introductory offer of 0% APR is truly incredible and will further enhance the affinity that vehicle buyers feel for this new service."

CashCare Founder and CEO, Vikas Sekri further added, "Droom has emerged as a significant market innovator in the automobile buy/sell market. As a real-time finance provider, CashCare understands car buyers’ needs for hassle-free and quick disbursal of loans. We hope to facilitate many customers through our association with Droom and help them drive their dream vehicles home this festive season."

Droom has further added to its unmatched reputation of being a complete service facilitator by ensuring procedures at the Regional Transport Office (RTO) are taken care of, with varying charges depending on the type of vehicle and location of RTO. Furthermore, there is a one-year manufacturer warranty available on every vehicle bought through it which is also delivered within 30 days of order placement. Droom buyers also benefit in terms of security as their vehicles are completely covered by the Droom buyer protection policy. With this wide gamut of services and its constant thrust on innovation, Droom has yet again proved its leadership position in the Indian automobile transactions market.

Droom is among the fastest growing consumer Internet companies in India with 74K+ B2C sellers, 25K+ products, 102K+ listings, Rs.5,330 Cr+ in listed GMV, 2.5 Mil+ FB Likes (highest for any automobile community in India) and over 3.2 Mil+ downloads for mobile apps.

Droom zooms into the 2016 Red Herring Top 100 Asia Winners’ list

New Delhi: Further bolstering its leadership stance as one of India’s most outstanding and innovative ventures, Droom, the country’s pioneering online automobile transactional marketplace has made it into the 2016 Red Herring Top 100 Asia award Winners’ list. The awards are declared in recognition of the leading private companies from the region, celebrating the innovations and technologies of start-ups in Asia across their respective industries. Droom has been recognized for its thrust on leveraging technology and data science that has helped it create a disruptive marketplace approach. It has brought in tremendous trust, transparency and convenience into the way Indians buy and sell pre-owned automobiles. After having proved its sustainability, the company has also recently ventured into the new vehicles’ segment to build on its stellar success.

Commenting on the achievement, Sandeep Aggarwal, Founder and CEO, Droom said, "It is a moment of great pride for all of us at Droom to have been named as one of the 2016 Red Herring Top 100 Asia award winners. Given the extensive evaluation criteria on the basis of which we have been selected, the news comes as a great boost to our motivation. It further validates our efforts across the denominators of business success and propels us to fulfill our vision of making Droom a global phenomenon."

"In 2016, selecting the top achievers was difficult as always," said Alex Vieux, publisher and CEO of Red Herring. "The variety, depth, disruption and traction we saw from the early stage companies to those with significant scale made 2016 a great vintage to judge. The Asia winners are representative of the amazing ecosystem that never ceases to astound, with new and experienced entrepreneurs continuing to push the barriers of innovation. As one of the winners, Droom should be proud of its accomplishment."

Each year, Red Herring Top 100 Asia Awards enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2,000 privately-financed companies each in the Asian region. Since 1996, Red Herring has kept tabs on the upcoming organizations and its editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.

Red Herring’s editorial staff evaluated companies on both quantitative and qualitative criteria, such as financial performance, technological innovation and intellectual property, DNA of the founders, business model, customer footprint and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the "buzz" and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.

Red Herring is a global media company, which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums, including print, online and exclusive events worldwide. Red Herring provides an insider’s view and access to the global innovation economy, identifying new and innovative technology companies and entrepreneurs.

Publication - The Economic Times, ET Panache
Droom forays into new vehicles segment.

Pre-owned vehicles transactional marketplace Droom announced its foray into the new vehicles' segment.

Droom is bringing unique innovations to the new category that will include a bank loan with 50% of vehicle value pre-approved, door-step test drive and gift vouchers.

The company has tied up with major brands such as Nissan, Chevrolet, Skoda, Mahindra and the innovation powerhouse of e-vehicles Hero Electric.

Presently, automobiles from all the other brands except Mahindra are available in Delhi-NCR region while Droom facilitates buy/sell of Mahindra vehicles on a pan-India basis.

Commenting on the announcement, Sandeep Aggarwal - founder and CEO, Droom said, "After 18 months of successfully selling 30,000 used vehicles and generating a revenue of Rs 1,200 crore annualised GMV and growing 700% year-on-year, we are proud to finally be a part of the new vehicle market."

"Earlier, we wanted to focus on the used-vehicle segment and change the way it functions through the use of digital tools. In the same vein, we want to create a paradigm shift in the still conventionally-run new vehicle sector and bring about a positive disruption for the benefit of the end consumer," he said.

The pre-requisites for loan application involve proof of Indian citizenship, birth/age proof for verification as an adult, 18 months of service/profession/business history and a government photo-id.

Various offers such as an iPhone 7 and iPad are also being bundled in.

Droom launches new vehicles on its marketplace

The new automobiles will be sold at Droom with basic listing prices and will be equipped with services like instant auto loans and vehicle insurance.

Droom, recently announced its foray into new verticals sector.

Founder and CEO of Droom, Sandeep Aggarwal said in a statement, "After 18 months of selling 30,000 used vehicles and generating a revenue of Rs 1200 crores, we are now a part of the new vehicle market."

The new automobiles will be sold at Droom with basic listing prices and will be equipped with services like instant auto loans and vehicle insurance.

This will also include a bank loan 50% of vehicle value pre-approved and door-step test drive among other things. The startup has already tied up with Nissan, Chevrolet, Skoda, Mahindra and Hero Electric.

Droom starts selling new cars, targets Rs5,000 crore GMV by 2017

Droom offers new vehicles from auto makers such as Nissan, Skoda and Mahindra

Auto makers will get to have their own brand stores on Droom where they can put up videos, brochures and announcements.

Droom, an online marketplace for pre-owned automobiles, has started selling new vehicles as it targets a threefold increase in sales over the next 12 months, a top company executive said on Thursday.

"Earlier, we wanted to focus on the used-vehicle segment and change the way it functions through the use of digital tools. In the same vein, we want to now create a paradigm shift in the still conventionally-run new vehicle sector and bring about a positive disruption for the benefit of the end consumer," said Sandeep Aggarwal, founder and chief executive at Gurgaon-based Droom Technology Pvt. Ltd, which owns the marketplace.

Aggarwal left e-commerce marketplace ShopClues, which he founded in 2013, and founded Droom in 2014.

Droom will sell new vehicles from companies such as Nissan Motor India Pvt. Ltd, Skoda Auto India Pvt. Ltd, Hero Electric and Mahindra & Mahindra Ltd, Aggarwal said.

Droom currently does an annualized GMV (gross merchandise value or cost of goods sold) of Rs1,200 crore and aims to touch Rs3,000 crore by March 2017 and Rs 5,000 crore by December 2017.

Auto makers will get to have their own brand stores on Droom where they can put up videos, brochures and announcements.

Droom will offer test drives at customers’ doorstep.

The company operates with gross margins of 1.5-2.5% in the new vehicle segment and about 1-1.5% in the used vehicle segment.

According to Aggarwal, online sales of automobiles is an immense market opportunity. The online segment is currently a $400 million market and is expected to touch $20 billion by 2020, he claims.

In June, Droom raised an undisclosed amount in a round led by Singapore-based early-stage technology fund Beenext, Japan’s start-up investment and incubation firm Digital Garage and existing investors Lightbox and Beenos.

The company has raised over $40 million since its founding, Mint reported.

Droom claims to have more than 74,000 sellers, 25,000 products and 102,000 listings. It aims to expand to 200 cities by 2017.

The company also expects to launch its international operations in Indonesia, Malaysia, Thailand and the Philippines over the next 10-12 months.

The average ticket size in the scooters category is Rs40,000 and Rs68,000 in motorcycles category. In the cars segment, it is Rs3.5 lakh.

Droom currently gets 65% of its orders from the two-wheeler segment, 30% from cars and the rest from services.

The company expects the new automobiles segment to contribute about 10-15% by March 2017 and 20-25% of sales by 2017-end.

Identifying the right talent for each role
Magazines 4P's