While the automobile market is desperately trying to rally and recover pre-Covid numbers, one category that has shown resilience in these troubled times is that of pre-owned vehicles. Growing at 6.2 per cent during FY16-20, it too was buffeted by the headwinds of the pandemic, but since then has witnessed a steady uptick in demand. Leading this segment are digital platforms that buy and sell second-hand cars and two-wheelers, which have logged manifold increase in online engagement and annual sales over the past several months.

One such company is Droom, a digital motorplace that claims to have captured 80 per cent market share of the automobile transactions happening online in India. The portal has clocked a massive 260 per cent surge in sales in the aftermath of Covid, along with a 175 per cent jump in traffic for new and pre-owned automobiles. Indiantelevision.com spoke to Krishna Veer Singh, president – marketplace, Droom to decode the recent upheaval in the used car business, how the platform is faring and what the road ahead looks like.

Singh started off by clarifying that while Droom is seeing unprecedented numbers now, it hasn’t all been smooth sailing.

“When Covid happened, we witnessed 90 per cent drop in orders within two months of lockdown. In June, we started seeing recovery even though we were far away from full recovery. Around August 2020, indicators like growth in traffic, leads and listings went up with huge numbers and we again achieved pre-Covid number of orders driven by two-wheeler demand. Also, we have achieved around 75 per cent of pre-Covid GMV by November 20,” he detailed.

As Singh pointed out, the resurgence of the automobile sector is led by two-wheelers and pre-owned cars. This is mainly due to a massive shift in consumer mindset: in the aftermath of the highly-contagious Coronavirus, public transport and ridesharing are no longer considered safe. However, the upswing in the desire for personal mobility has been compounded by the problem of limited means.

“With economic activity slowing down, people are more inclined towards lower-priced or smaller vehicles in personal mobility space which in turn has boosted sales of used vehicles. As a result, there is an increase in the demand for budget-friendly options like Swift, WagonR, Dzire, Honda City, i10, Scorpio and Santro, among others and two-wheelers,” he said, adding that these make up 70 per cent of total orders.

FY21 auto sales are estimated to be decadal lows, and the industry has yet to recover to monthly sales levels of new vehicles seen before the pandemic. But it’s a fact that the automobile sector had undergone considerable slowdown over the last 12-18 months, labouring as it was under the GST regime change, stiff competition from ride-hailing apps, general liquidity issues, and several other factors.

By contrast, the used car market is 1.3 times of the new car market, with the organised segment expected to register a CAGR of 22.79 per cent during 2020-25. Majority of the OEMs such as Maruti Suzuki, Mahindra, Hyundai and Toyota, and luxury car manufacturers like BMW, Audi, and JLR, have their own used car network. Online used car sellers have also reported good sales over the last few years. Government policies, for instance the reduction of GST rate on used cars from 28 per cent to 12-18 per cent, are also favourable – a key growth driver for the sector. Does all this portend that India is on the road to becoming a second-hand car market? Singh appeared to think so.

“Demand for used cars has increased manifold in the last few years. The economic slowdown caused by the pandemic has resulted in financial restraints which leads to an increase in demand for budget-friendly options of Rs 2-5 lakh and middle budget of Rs 5-10 lakh. Overall, 25,000 cars were sold this year,” he highlighted.

Post pandemic, the surge in sales has been powered, in main, by the top five to six metros in the country – Delhi, Mumbai, Bangalore, Hyderabad and Ahmedabad – and prospective customers are most interested in vehicles, germ shield and auto services, shared Singh. The site has clocked a 550 per cent jump in leads and an average MAU of six million over the last few months. An impressive feat, considering that 60 per cent of the traffic on Droom is organic.

The reason may be that apart from catering to vehicles, the platform has branched out into several complimentary ventures in the wake of Covid. These new endeavours were initiated after careful consideration of consumer needs and the rising hygiene consciousness among people. Droom now offers Contactless Commerce, an end-to-end contactless experience including online vehicle research, doorstep test drive and delivery, online documentation, and digital payments. The Jumpstart service was introduced in May to provide vehicle service at your doorstep.

Another big revenue driver this fiscal has proved to be Droom’s Germ Shield business. Not just limited to vehicles, the service has been extended to cover residences, offices and commercial spaces.

“Germ Shield is a separate P&L and currently driven by our proprietary tool, ECO, and its network. The technology is relevant to all kinds of surfaces and expanding to other categories like homes, schools, and commercial gave us an opportunity to bring more business, along with more awareness and adoption of the product utilising the same network of ECO services and without any additional capex,” said Singh.

All this doesn’t discount the fact that the used car market is a competitive space, with several players jostling for buyers’ attention. Curiously, despite commanding 80 per cent of the market share, Droom doesn’t really stand out. Its rivals, on the other hand, have greater brand recall on the back of their ATL campaigns. When asked about this dichotomy, Singh asserted that the brand doesn't believe in burning huge budgets on marketing. Instead, it has invested in building better solutions using technology and data science.

“We are trying to bring transparency, convenience, and trust by building the whole ecosystem around automobile buying and selling by building and enhancing proprietary tools such as OBV, ECO, History, Quick Sell, etc. Also, Droom is the only pure-play internet company while others offer offline services. We work simultaneously with dealers and sellers instead of holding inventory. Droom has built an entire ecosystem around used automobiles for the digital economy,” he elaborated.

The consumer uptake has been significant, particularly during the Dussehra-Diwali period this year. As families and friends met after a long time, and people thronged malls and markets for festive shopping, Droom registered a fivefold increase in bookings for germ shield sanitation services which offers antimicrobial surface protection service.

“This festive season, we have witnessed over 60 per cent peak in sales. In new vehicles, sales of cars have witnessed 60 per cent surge and premium cars accounted for 100 per cent growth. Two-wheelers also witnessed growth over 240 per cent and 25 per cent jump in GMV,” added Singh.

While the used car market, valued at $24.24 billion in 2019, is on an upward trajectory, it’s not without its own share of problems and shortcomings. Unorganised and semi-organised players take up most of the market share, leading to a highly supply-constrained market. Consumer-to-consumer deals still make up 32 per cent of the segment – not a good sign in terms of regulation and accountability. Financing and other value-added services aren't readily available in the used car business, which acts as a roadblock in customer engagement. However, recent growth through organised modes has been somewhat driven by cannibalisation of the consumer-to-consumer and unorganised channels – a trend that should bode well for companies like Droom.

“The biggest challenge is to maintain the organic traffic and eventually make growth sustainable. Going forward we will keep practicing our customer-centric approach and build the latest technological solutions to make the buying and selling experience of automobiles better and better,” he concluded.

I choose a corner table on the first floor of the restaurant that has a raw feel to it with its décor of unpolished woodwork and broken flooring. Nearby is a basket of body ...

The internet is rife with stories of failures from the lives of Bill Gates to Jack Ma, yet their legacy lives on. This is because the path to entrepreneurial success is not easy. So, what is that makes the aura of these people so vast, much beyond the scope of the products they helped create? The answer lies in something elusive called the ‘startup spirit.’

Companies that have recently made senior-level hires in this space include upGrad, BharatPe, MoneyTap, and those looking to strengthen their teams include Dunzo, NoBroker, Droom, Hiver, PhonePe and Cashfree.

“Companies are investing in digital, product, automation and technology to keep pace with the massive changes in the way business is done over the last 8-9 months,” said Gaurav Chattur, managing director-APAC of global talent search and consulting firm Catenon. The firm currently has more than 15 mandates across senior technology and product roles, he said.

One crucial quality startups are looking for in candidates is the ability to manage an ambiguous environment in the post-pandemic world, experts said. Compensation for these roles starts at ₹80-90 lakh and can go up to almost ₹2 crore plus employee stock ownership plans (Esops), they said.

Hiring for technology professionals has seen an almost 70% increase since last year, and much of this demand is being driven by the e-learning, gaming and IoT (internet of things) space, said Francis Padamadan, senior director, Asia Pacific region – RPO (recruitment process outsourcing) and BPS (business process services) practice, at KellyOCG.

“We are also seeing demand for senior-level talent from companies as more work is now done virtually than before, including business and consumer transactions,” Padamadan said. KellyOCG has closed more than a hundred senior leadership roles in 2020, he said.

There is also interest from ecommerce and its enabling sectors like logistics and payments, as well as healthcare and gaming startups, for senior-level talent, said Anuj Roy, managing partner at Fidius Advisory. “We currently have about seven mandates for such roles.”

Bengaluru-based real estate search portal NoBroker has hired three senior leaders in the last few months to strengthen its technology and product teams, which have grown from 100 to 150 since the beginning of the pandemic, its cofounder Amit Agarwal said. The company is looking to hire more senior-level talent to lead innovation.

Ecommerce, digital, and consumer technology companies are preferred hunting grounds for such talent because of their prior experience with cutting-edge technology and quick scaling up, said Catenon’s Chattur.

Hiver has four leadership positions open in its technology and product teams, said its cofounder Niraj Ranjan Rout. The email-based collaboration software firm has various SaaS-based productivity products in the pipeline and wants to double down on talent that can scale these up and drive revenue, he said.

In the last three months, delivery app Dunzo has onboarded Flipkart’s Manu Manjunath as principal architect and Bounce’s Anshul Gupta as director of engineering.

“We look at the IoT landscape as well as companies in our segment to discover talent with the relevant skill set and experience,” Sharmita Roy, lead of talent acquisition at Dunzo, said.

Droom, an online marketplace for used vehicles, is looking to hire 4-5 experts to accelerate innovation and support business expansion. The company has recently added over 40 mid to senior-level employees to its product and technology teams, its founder Sandeep Aggarwal said.

The tightening of purse strings means that consumers are prioritising affordability more than anything else, which has created an opportunity for players in India’s used car market to grow. “In terms of pre-owned vehicles, overall the segment has shown great resilience as demand has surged by 133%, while supply has surged by 112% in the recent months vis-a-vis the pre-COVID period. Owing to constrained budgets people have gravitated towards pre-owned cars,” noted Amit Kumar, CEO, OLX Autos India.

The fortunes of used car start-ups like Cars24 changed as it became a unicorn after a $200 million Series E funding round led by DST Global. The used car market is pegged at $ 24.24 billion, with plenty of competitors like Carwale, CarTrade, Droom, CarDekho, Spinny, and OLX Auto.

However, the bigger trend is the shift of consumer preference away from a brand new luxury car and shedding the stigma attached with ‘used cars’, especially in the luxury segments. Abhishek Patodia, Senior Vice President (Used Cars) at CarWale, said, “As per the demand figures on our consumer platforms – CarWale and CarTrade – and sales numbers from our dealer partners, the sales for pre-owned luxury cars have grown by 20-30% in the last 3 months, when compared to the previous quarter. This growth rate is due to the dual effect of lockdown pent up demand and the festive season. Moreover, sales for luxury cars have been at similar levels this festive season, as compared to last year's festive season.”

The bestselling pre-owned luxury vehicle brands were Mercedes Benz, BMW, Audi, Bentley, Rolls Royce, Land Rover and Lamborghini. Krishna Veer Singh, President & Head, Marketplace, Droom, observed, “The best-selling luxury cars are Mercedes-Benz E-Class, BMW 5 series, Mercedes-Benz C-Class, Audi A6, Audi A4 and the top bestselling luxury bikes are Yamaha YZF-R1M Triumph and BeneliTNT 600i.”

Digitalisation of purchase pathway means that these players can offer online vehicle research, door-step test drive, door-step delivery, online documentation, and digital payments. Consumers are making these big ticket purchases without stepping into the showroom even once, claimed Jatin Ahuja, Founder & MD/ CEO, Big Boy Toyz. He further said, “We launched our BBT Mobile app recently, which has itself seen more than 1 lakh downloads, we have introduced 360 degree virtual tour of our headquarters via the BBT website, which gives the consumer the feeling of being in the HQ to at least 80% accurately. Post covid it was a very surprising trend to see that almost 70% of the consumers made their purchase by visiting the website and not the showroom.”

Why are consumers gravitating to pre-owned luxury vehicles? OLX Auto’s Kumar explained, “On OLX you can find a pre-owned luxury car for 10%-30% cheaper than it’s the new version. Every pre-owned luxury car is unique, hence interested buyers could stumble upon a well maintained barely driven pre-owned luxury car at a great price. This value is what drives people to purchase a pre-owned luxury car on OLX. Demand for pre-owned luxury cars is up by 33% in the recently concluded festive season, compared to the same time period last year. This indicates a huge pent up demand for the same and we may see the trend continue well until December.”

Droom attracted customers during the festive period with exciting festive offers. Singh said, “In this festive season, we have witnessed over 60% peak in sales. This year, in new vehicles sales of cars has witnessed 60% surge and premium cars accounted for 100% growth. Two-wheelers also saw a huge demand as more people are opting for personal mobility in the times of COVID-19 and witnessed growth over 240%.”

The pent up demand for luxury vehicles was such that players like BBT who only deal in pre-owned luxury vehicles saw an overall growth during the pandemic YoY. “Due to the global crisis we were initially afraid to achieve the set target, but due to our excellent strategy and far sightedness we have been able to sell a total of 140 luxury cars since the pandemic and the cars within the price range from Rs 50 lakh to Rs 1.50 crore has seen the maximum off take in terms of consumer preference. We are looking at clocking in an overall growth and not just a festive season spike,” signed off Ahuja.

The corporate world is filled with its own set of baddies in the garb of business problems and the importance of a diversified yet well-balanced team to tackle such circumstances with sufficient expertise cannot be stressed enough. Investors and entrepreneurs are actively fishing to acquire the most hard-to-find resource — talented individuals. But in today’s business world, filling your ranks with only talented individuals is not enough to create an efficient team.

The popular models which are in demand are Rolls-Royce, Mercedes-Benz E-Class, S-Class and above, Audi A6, Audi Q3, Audi A4 and BMW 5 Series.

According to Droom — an online automobile transactional marketplace — the total sale of luxury cars in the northern region was over 1,500 units in the past six months of the current fiscal. The gross merchandise value (GMV) i.e the total value of merchandise sold over a given period of time through a customer-to-customer (C2C) exchange site was around Rs 493 crore. The average selling price of the car was Rs 33 lakh.

Further, in order to assist the customers, Droom has leveraged technological innovations powered by augmented reality and virtual reality in addition to tools using artificial intelligence, machine learning and big data to offer new products and solutions for automobile commerce. Recently, it has acquired a company to provide a live virtual tour of vehicles to customers who can experience it in the 3D format.

Big Boy Toyz — another player which sells pre-owned luxury cars such as Mercedes-Benz, Aston Martin, Lamborghini and Rolls-Royce — has sold around 140 cars in the first half of the current fiscal across metros and tier-II and tier-III cities, including Ludhiana.

“The past six months have been pretty good. It’s very difficult to predict the industry figure but we have grown by nearly 50%. Our clients include industrialists, cricketers and celebrities,” said Jatin Ahuja, founder and MD of Big Boy Toyz.

Festival cleaning is the mood in almost every household. Amid the pandemic, Delhiites are opting for not just cleaning but going a step ahead and enthusiastically booking for sanitisation services, as the festival of Diwali nears. And service providers in Delhi-NCR have registered a noticeable spike in demand from denizens.

“Earlier we were sanitising 6-8 homes per day, but in the festive season we have been sanitising 25-30 homes per day,” says Krishna Veer Singh, from Droom – an online car marketplace that offers antimicrobial surface protection services. Sharing that they have registered a five fold increase in bookings made for their germ shield sanitation services, Singh adds, “The festive season has definitely made people conscious of safety, since many expect guests in these weeks. Which is why we even came out with special offers to cater to a growing demand.”

“’We want people to celebrate Diwali with safety... We have seen more requests in the last few weeks, and have sanitised and cleaned over 400 houses in the last one month.”

– Aamir Ayyub, founder, Right to Safety Foundation

“As the pandemic continues, people want to be safe and not run into the risk of having infections. Many who have been planning on get-togethers or functions in their homes, and wish to celebrate the festival safely, are opting for our home cleaning services,” says Alok Pant, from Hytech Expert, a company that provides sanitisation services. He adds, “In the time of pandemic, people know it’s better to get a professional to not just clean the house, but also sanitise the exposed surfaces. In the last 40 days, in the run up to the festive season, we have serviced over 350 houses, which is 50% more than what we did in the previous months!”

Workers wear PPE kits while undertaking cleaning and disinfection tasks as per the safety protocol.

Those employees who provide cleaning services, are equipped with a full body protective suit to ensure the safety of customers as well as their own. Aamir Ayyub, founder of Delhi-based Right to Safety Foundation, which has been providing sanitisation services at a nominal cost of ₹1 per square foot, says, “We want people to celebrate Diwali with safety, and hence provide subsidised services in north and south Delhi. We have seen more requests in the last few weeks, and have sanitised and cleaned over 400 houses in the last one month. As Covid-19 cases are rising in the city, we are also continuing to offer sanitisation services to police and fire stations, for free.”

Mayank Sharma, a Kalkaji-based engineer, who recently got his house professionally cleaned and sanitised, says, “I’m planning to finally host a get-together of my cousins and have a card party. It was only necessary then to ensure that my surroundings were absolutely safe for everyone coming.” And for Noida resident Sheel Agarwal, sanitisation services were God sent! “I got our home sanitised because I knew if they wouldn’t have done it, my mother would have made me clean the entire house, and I absolutely detest that,” she chuckles, adding, “I anyway wouldn’t have done a good job of it, and my mother would have had to do it again, so I saved us both some time and arguments!”

Of course, the festive sprint is visible in used cars and sales have been picking up month on month. “Used car sales have been good in October and our numbers are up 10% over last October and 15% compared to September 20,” said Ashutosh Pandey, CEO, Mahindra First Choice Wheels. Part of the problem is supply. “There is not too much inventory with dealers and some of the cars that are coming to the used car pool are not retail worthy,” he added. Despite doing better than new cars during lockdown, the used market has not hit last October levels. Droom did business worth $61 million in September and $72 million in October but it is still down 20% from the $90 million of October 2019. The M-o-M increase though is clear. “The seller and buyer intent on our platform have been increased to roughly 3X compared to pre-lockdown. In October we saw more than 10% rise in sellers over September 20,” said Gajendra Jangid, co-founder & CMO, Cars24 said.

So what’s selling best in used cars? With around 60% of first time buyers are opting for used cars, the “affordable hatchback has been the best performing category,” said Amit Kumar, head OLX Autos India. According to a just conducted survey by online platform OLX, 56% of those surveyed said they would want to buy a hatch (Alto, Kwid, Santro, Swift, Polo etc) while 44% said they wanted a bigger car and only 11% said they would buy an SUV. The reason: 63% of the respondents had a budget of just Rs 3 lakh to buy a car. As per industry data, the pre-owned car market outnumbers the new car market by 30% in volume. In FY19, the used car market crossed 4 million units.

MakeMyTrip Group restored the compensation for all frontline and mid-level employees effective July and for the senior executives from the month of September across its three entities: MakeMyTrip, GoIbibo and Redbus. "Pay adjustments were driven by volunteering in the firm where several employees had offered to take salary cuts. It was an overwhelming experience for us, so when we felt things are improving and we have a line of sight on the business, we reverted back to original salaries," says Yuvaraj Srivastava, Group Chief Human Resource Officer at MakeMyTrip.

"My estimate is almost 70 per cent of the companies have reinstated the original compensation of their employees," says Aditya Narayan Mishra, CEO, CIEL HR Services. Restoring the salary cuts is a big trend but many firms would be tight lipped about it, he says. Many companies did it from October and many more have announced to implement it from November onwards, says Mishra.

Organisations had cut salaries from 20 per cent all the way to 60 per cent. Sonal Agrawal, managing partner at executive search firm Accord India, says reinstatement of salaries has started happening but it is not across the board. "It is not a sectoral trend but a mixed bag. Companies with visibility on revenues and profitability are taking appropriate decisions."

She adds, "Everyone is in the same storm but not in the same boat. So, while some auto or consumer companies have reinstated employees compensation, many have not." Some firms are also reinstating in phases, usually starting with junior employees and gradually moving to senior executives.

Industry sources say BookMyShow also has rolled back salary cuts to a large extent as their online initiatives on virtual live entertainment has started generating revenue.

Online automobile marketplace Droom reinstated original salaries effective from October 1. "Towards the end of July we had announced to the employees that unless there is further recession and things go awry, we will end the paycuts which we had announced in April," says Sandeep Aggarwal, Founder and CEO, Droom.

He adds, "Giving an end date was important because it gives the feeling to employees that it is not permanent but a temporary phenomenon which helps to settle the anxiety might employees have."

In addition to restoring salaries, companies are also doing appraisals now as many had deferred the year-end appraisals that happen around March/April.

"Companies are now lifting the moratorium and doing their annual appraisals at the end of this calendar year. Usually, if appraisals are done later, arrears are effective from April but it isn't the case this year. Many are saying the new compensation will be effective from October/November due to Diwali," says Mishra of CIEL HR Services.

He says this trend is seen in largely the big firms and the growing companies, such as in grocery and ed-tech space that need to recruit people and keep their employees motivated. "In the environment with high unemployment and layoffs, companies need to keep the mood positive. Also, if employees see new hiring is done by the firm but hikes are not given to the existing employees, it induces a feeling of lack of equity and fairness in the organisation," says Mishra.

Droom has begun the process of mid-year appraisals which will be done in November "People will get arrears of their new salary from October," says Aggarwal. He says their business is at 80 per cent of the pre-COVID levels and they are already at Rs 6,500 crore of annualised run rate in annual transactions on their platform.

MakeMyTrip has declared to conduct its appraisals and give salary increments in the month of January.

In addition to restoring salaries, MakeMyTrip has announced a flat 50 per cent of variable pay to be given to all their employees. "This year, the business has been affected and still awaiting recovery so people wouldn't have earned variable pay at all. But understanding the financial pressures and the needs of the upcoming festive season, the organisation, has declared a flat 50 per cent pay out of the variable pay for Q2 and Q3 to all up to mid level," says Srivastava.

He adds, "It is a competitive environment for talent and while we continue to attract the best people due to the promise the travel sector offers, we recognise that we operate in a competitive ecosystem and have to match the market to retain our best employees."

"Pre-owned premium cars, Germ Shield, loans, insurance, certification, and car care" are also on offer. Droom is giving away one pre-owned bike/scooter every week at Rs 999, one pre-owned car at Rs 9,999, a scheme that says buy any pre-owned scooter for Rs 19,999 and any pre owned bike for Rs 29,999.

Also, all pre-owned cars available at Rs 299,999 plus free RSA and Germ Shield with every vehicle purchased. Moreover, customers who opt for EMI will get to avail of an exclusive offer of ‘No EMI for the first three months’.

Further, a processing fee will be paid back in Droom Miles to customers who take a loan or insurance; ie, the Droom Miles will be credited to their account during the buying season.

Krishna Veer Singh, president & head, marketplace, Droom, said, “Over the last few years, we have observed that the exciting offers we roll out during this time usually propel our business performance, with Q4 GMV sales at Rs 410 crore in 2016, Rs 883 crore in 2017, Rs 1,741 crore in 2018, and Rs 1,883 crore in 2019. We have typically witnessed 25%-30% growth during the festive season as compared to other times. Therefore, with the array of attractive deals that we have allocated a larger budget for this year, we are confident about 40-60% growth even in volatile market conditions. "

Well, some will claim that he was a born genius, some will say his relentless training is the most significant factor for his success, some will assume his passion and determination brought the eventual result, and yet others will also point to luck and destiny and claim that he was at the right place at the right time to emerge as the legendary cricketer he finally became. A success, perhaps, cannot be credited to a single reason as there are a multitude of factors that are at constant play. Undoubtedly, he had abilities, he received good training, he was passionate and determined, and moreover, he received a good opportunity.

The same can be said for a successful start-up that goes on to become a unicorn, i.e., being valued at a billion dollars. Addressing all the important factors mentioned in the checklist above becomes inevitable for the success of an individual as well as for a business entity. Let us throw some light on the important points required to make a company a unicorn:

Curation of an idea

A successful business venture requires thought establishment based on well-researched and incisive knowledge of a particular need the business will cater to. It is not possible to establish a business venture by mere curation of ideas and failing to acknowledge basic ground realities.

Thus, acquiring an in-depth understanding of your field of operation and interconnection of your industry with the factors that are directly and indirectly linked to your industry assumes primary importance. If left unnoticed, these factors can hamper the growth of a business venture, thus causing hindrance in reaching its true potential, and subsequently, can also result in its failure.

Analyse your target audience

India is a land of diversity. From age to ethnicity, from financial background to specific hobbies, there are a plethora of individual identities, tastes, preferences, and opinions. In order to become a successful business, it is necessary to develop a deep understanding about your target audience and consumer demand in order to make your business venture successful. A generic approach often leads to lapses in strategy of a company as the demand for your product is subjective to the variable needs and wants of the target audience.

For example, suppose an individual sensed massive opportunity in a market of over 1.27 billion people for a clothing line. Analysing the general needs and demands of the country will not be sufficient. Here, the sub-category of the clothing line (say women’s fashion, men’s apparel, kids wear), the target audience (upper class, middle class, upper-middle class, etc.), and identification of prominent players catering to this market will be critical factors that will affect the success of the business venture. Also, its characteristic differentiator, the USP of the company, is also a matter of concern in this field.

Leverage the benefits of technology

Establishing a business venture in the day and age of digital technology is a boon in itself. Today, businesses are leveraging the massive prospects offered to it by automation, data integration, cloud computing, analytics, mobile solutions, social media marketing, etc. for brand building, improving customer service, increasing productivity and efficiency, identifying trends, product development, and promoting growth.

Tapping the benefits of the desired technology efficiently can play a vital role in determining the growth of your startup. Also, one should be careful in selecting the proper technological tools which are ideal for the purpose and relevant to the case specific business application.

Thought leadership

Another critical aspect of a business is its thought leadership. The complexity of decision-making process requires a top-down approach regarding ideation in an organisation. The constant flow of information from the uppermost hierarchy ensures there is no confusion in the collective thought process of the company.

A successful entrepreneur should always share his/her vision with the employees to ensure that individual efforts are made towards achieving a common goal. Also, it inculcates operational coherence, increases employee engagement, and assists in smoother workflow of an organisation, thus increasing the overall efficiency.

Mentoring

It is advisable for upcoming entrepreneurs to develop a strong rapport with established business leaders for their guidance and mentorship to assist in an entrepreneurial journey. A mentor will provide you essential business skill that otherwise you will have to develop after a lot of trial and errors.

Apart from the skill polishing and guidance to achieve success in the market, mentors also prove to be vital for acquaintances with critical business partners, prospective clients or providing key business insights.

Financial constraints

Many examples can be cited of recent startups that began with a lot of promise but fizzled out fairly quickly. After back-to-back rounds of fundraising, such business ventures also received positive reception from consumers. But the only problem that caused their eventual failure was an alarming rate of cash burn.

It is critical to seize consumer market, but not at the expense of financial instability of the company. Pay heed to the financial constraints of your company and rein in the spending at an appropriate time, in order to ensure the survival, sustenance and success of the business in the long run.

Think big

A unicorn company, or any big achievement for that matter, needs to begin with a panoramic vision. Every realistic or short-term goal needs to be constantly fed with the hope of a huge dream that inspires every component of the organisation to push itself harder.

An entrepreneur should always have the next milestone and the end goal in mind and should try and share both these ideas with the employees to make optimum use of the collective efforts.

Addressable opportunity

The phrase ‘carrying coals to Newcastle’ probably evolved from a failed business idea. Any product or service that your business tries to sell needs to have ample and long-term demand. Utilising an existing necessity, or creating one successfully, is the hallmarks of a business on the verge of being a unicorn.

As markets get clogged with a rise in the number of new entrants while the established players continue to keep a lion’s share of the returns, the purse just gets lighter for everybody. In such a scenario, it is only the business’s marketing plans and disruptive strategies, along with their immaculate execution, which can save the day and guarantee a greater portion of the profit pie. An entrepreneur needs to have a futuristic vision and should be able to predict the changes in business variables beforehand to keep the business prepared to handle all kinds of topsy-turvy conditions.

Regulatory environment

Sometimes, there are businesses which might have a high degree of engagement with the government. In these cases, either a business can start generating quick profits, or it can go bust trying to negotiate with the bureaucratic red tape. A careful evaluation needs to be undertaken before any entrepreneur ventures into such businesses which are directly controlled by the state or central government.

t would suffice to say that any entrepreneur who believes in her/his idea should not give up until the vision is realised. While luck also plays a significant part, a pro-active entrepreneur combined with a hungry team with immense growth possibilities is bound to find success in today’s environment.

It’s a well-known fact that most serial entrepreneurs of today were once struggling to make ends meet at their bootstrapped ventures. They know exactly what it takes to turn a vision into reality. But unlike a new entrepreneur, those seasoned in taking ventures from a mere idea to a big business do not get overwhelmed by the constant rhetoric of naysayers stating how business is ‘no child’s play’ and how it requires ‘big money’ to survive.

Their mantra for the new kids on the block is always this, if you have an idea that you believe in, jump into realizing it wholeheartedly. But first, keep in mind the tips mentioned below so that the risk you take is actually worth it-

The Bare Necessities

With an idea in mind and a coffee in hand, you look at the office space in front of you and imagine it full of the choicest furniture, swanky laptops, soda vending machines and whatnot. Your reverie, however, is interrupted by a message on your phone, which reminds you to take care of the more immediate concerns, such as paying the electricity bill for your office. That text is probably just the reality check you needed.

Dreaming is good. Necessary even. But to remain in that world without addressing the present concerns is the sign of a person who does not have a sense of priority. With less money, bootstrapped entrepreneurs should always look for the most ideal returns on even the smallest of investments. A business which is able to inculcate such habits early on develops great operational efficiency and good unit economics later on.

Minimize Credit

Given the way they operate, bootstrapping startups need to keep their debt at a minimum. Loans taken to meet business expenses can put enormous pressure on your venture as they become a recurring expense. EMIs, therefore, must be avoided wherever possible. Any business needs a gestation period to achieve profitability, and the task becomes much more difficult with EMIs looming large every month.

Letting Go Of Ego

During the initial phase of a startup’s journey, every bit of business is important. Therefore, as an entrepreneur at the helm of a bootstrapping venture, do as much work you can and never refuse a client that you can turn into a loyal, profitable customer later on. Acquire as much business as you can, even if it means sometimes working on break-even points. Just make sure you don’t do deals that could end up in a loss.

Grab All The Freebies You Can

Used laptops from friends, an unoccupied garage or basement, equipment, transportation, grab whatever you can if you are getting it for free or at a negligible rate. At the inception, these assembled resources are extremely handy and can contribute significantly to cutting down on costs. Remember, however, to not take these resources for granted and acknowledge the efforts of all your collaborators whenever you have the means to do so.

Bootstrap Some More

You have been living like a glorified pauper. In such a situation, when you suddenly land a big client loaded with money, you might feel like taking it easy for a bit and celebrating your growth with a party or two. This is exactly the kind of thing you should avoid doing. Even if your company’s revenues increase, the discipline of running it like a bootstrapped organization helps in minimizing insignificant expenses. That said, however, employees and personnel should be provided with financial and non-financial compensation that keeps them at the peak of motivation.

Keep A Lean Workforce

Overstaffing is one of the worst things that can happen to a bootstrapping firm. With funds in paucity, optimal recruitment is one of the most significant aspects of a startup. Also, recruiting people with multiple skills should be given prominence. Performance-based incentives and bonuses act as great motivators for improving employee productivity.

Use Free Media For Getting The Word Out

Social media is a boon for bootstrapped organizations as it helps to achieve that much-needed visibility for free or with minimal expenditure. Furthermore, social media provides a great scope to connect to a vast consumer base and get instant feedback about their tastes and preferences as well as your services. Hiring social media analysts is essential for a bootstrapped firm to quickly achieve business spotlight.

Devote Time To Test Viability

Before you put your idea into motion, it is very essential for every bootstrapping entrepreneur to extensively evaluate the viability of their business idea. Carry out surveys, conduct detailed discussions, and study past industry estimates on a personal level. Remember, once you involve other people, your degree of responsibility and answerability assumes bigger proportions and you might just not have the desired amount of freedom anymore. A half-baked idea can only go so far before being drowned in the sea of anonymity.

Data Analytics

These are the fundamental steps for keeping the overall business transactions in control, and data analytics will help you immensely in this task. From drawing up cost estimates to preparing a consumer preference analysis, these tools can help provide a microscopic view of the business as a whole. They can also help identify specific points of concern and to ensure smooth functioning in the long run.

Internet startups are vastly cost-effective when compared to conventional business setups that have been around for more than 300 years. Thus, a bootstrapping startup has more chances of surviving, and flourishing, than ever before. A bootstrapping entrepreneur must be proud of his passion and caliber, but at the same time should not be complacent or get used to it.

By Sandeep Aggarwal
“What makes Sachin Tendulkar, Sachin Tendulkar?” Well, some will claim that he was a born genius, some will say his relentless training is the most significant factor for his success, some will assume his passion and determination brought the eventual result, and yet others will also point to luck and destiny and claim that he was at the right place at the right time to emerge as the legendary cricketer he finally became. A success, perhaps, cannot be credited to a single reason as there is a multitude of factors that are at constant play. Undoubtedly, he had abilities, he received good training, he was passionate and determined, and moreover, he received a good opportunity. The same can be said for a successful start-up that goes on to become a unicorn i.e. being valued at a billion dollars. Addressing all the important factors mentioned in the checklist above becomes inevitable for the success of an individual as well as for a business entity. Let us throw some light on the important points required to make a company a unicorn:

The book, touted to be an intimate and moving autobiography of one of India's most successful start-up entrepreneurs, will hit the stands on October 10.

"The story of my life studded with stars and eclipses alike. It has been a humbling experience to recollect, relish and rewrite moments of my life that have shaped my journey to the present. I hope it can inspire a few courageous souls to think big, fight the odds, live through failures, and celebrate the victories.

"'Fall Again, Rise Again' is the story of my life encapsulated in the bindings of a book and it gives me an immense pleasure to share my story with the world on the completion of a decade of my entrepreneurship journey," Aggarwal told .

Aggarwal, a former top-ranked Wall Street analyst, co-founded e-commerce company ShopClues in 2011 and started online automobile marketplace Droom in 2014. With 80 per cent market share of the automobile transactions online, Droom presently claims to be India's largest pure play online automobile platform.

But then the success came with its own share of ups and downs.

Sued by the United States Department of Justice (DOJ) and Securities Exchange Commission (SEC) in July 2013 for allegedly being involved in insider trading, he had to step down as the CEO of ShopClues in 2015. One of the most-promising start-up, ShopClues, after a series of controversies, including the fall-out between its co-founder and now estranged couple Radhika and Sandeep, was sold to Singapore's e-commerce firm Qoo10 last year.

In February, the US government dropped all criminal charges, and the SEC settled all civil charges against Aggarwal.

According to Rupa Publications, Aggarwal's story is of a middle-class boy who dreamt to make it big someday and saw his dreams crushed by charges of insider trading in the US but rose like a phoenix to create yet another company.

"This is unlike any autobiography, especially among those written by people from the business world. Sandeep's emotional strength and searing honesty will inspire and impact you in a way that is very, very rare," they added.

The book, touted to be an intimate and moving autobiography of one of India's most successful start-up entrepreneurs, will hit the stands on October 10.

The story of my life studded with stars and eclipses alike. It has been a humbling experience to recollect, relish and rewrite moments of my life that have shaped my journey to the present. I hope it can inspire a few courageous souls to think big, fight the odds, live through failures, and celebrate the victories.

Fall Again, Rise Again is the story of my life encapsulated in the bindings of a book and it gives me an immense pleasure to share my story with the world on the completion of a decade of my entrepreneurship journey," said Aggarwal.

Aggarwal, a former top-ranked Wall Street analyst, co-founded e-commerce company ShopClues in 2011 and started online automobile marketplace Droom in 2014. With 80 per cent market share of the automobile transactions online, Droom presently claims to be India's largest pure play online automobile platform. But then the success came with its own share of ups and downs.

Sued by the United States Department of Justice (DOJ) and Securities Exchange Commission (SEC) in July 2013 for allegedly being involved in insider trading, he had to step down as the CEO of ShopClues in 2015. One of the most-promising startup, ShopClues, after a series of controversies, including the fall-out between its co-founder and now estranged couple Radhika and Sandeep, was sold to Singapore's e-commerce firm Qoo10 last year.

In February, the US government dropped all criminal charges, and the SEC settled all civil charges against Aggarwal. According to Rupa Publications, Aggarwal's story is of a middle-class boy who dreamt to make it big someday and saw his dreams crushed by charges of insider trading in the US but rose like a phoenix to create yet another company.

"This is unlike any autobiography, especially among those written by people from the business world. Sandeep's emotional strength and searing honesty will inspire and impact you in a way that is very, very rare," they added. The book is available for pre-order on Amazon.

The book, touted to be an intimate and moving autobiography of one of India''s most successful start-up entrepreneurs, will hit the stands on October 10.

"The story of my life studded with stars and eclipses alike. It has been a humbling experience to recollect, relish and rewrite moments of my life that have shaped my journey to the present. I hope it can inspire a few courageous souls to think big, fight the odds, live through failures, and celebrate the victories.

"''Fall Again, Rise Again'' is the story of my life encapsulated in the bindings of a book and it gives me an immense pleasure to share my story with the world on the completion of a decade of my entrepreneurship journey," Aggarwal told PTI.

Aggarwal, a former top-ranked Wall Street analyst, co-founded e-commerce company ShopClues in 2011 and started online automobile marketplace Droom in 2014. With 80 per cent market share of the automobile transactions online, Droom presently claims to be India''s largest pure play online automobile platform.

But then the success came with its own share of ups and downs.

Sued by the United States Department of Justice (DOJ) and Securities Exchange Commission (SEC) in July 2013 for allegedly being involved in insider trading, he had to step down as the CEO of ShopClues in 2015. One of the most-promising start-up, ShopClues, after a series of controversies, including the fall-out between its co-founder and now estranged couple Radhika and Sandeep, was sold to Singapore''s e-commerce firm Qoo10 last year.

In February, the US government dropped all criminal charges, and the SEC settled all civil charges against Aggarwal.

According to Rupa Publications, Aggarwal''s story is of a middle-class boy who dreamt to make it big someday and saw his dreams crushed by charges of insider trading in the US but rose like a phoenix to create yet another company.

"This is unlike any autobiography, especially among those written by people from the business world. Sandeep''s emotional strength and searing honesty will inspire and impact you in a way that is very, very rare," they added.

The book is available for pre-order on Amazon. PTI MG MAH MAH

The book, touted to be an intimate and moving autobiography of one of India's most successful start-up entrepreneurs, will hit the stands on October 10.

"The story of my life studded with stars and eclipses alike. It has been a humbling experience to recollect, relish and rewrite moments of my life that have shaped my journey to the present. I hope it can inspire a few courageous souls to think big, fight the odds, live through failures, and celebrate the victories.

"'Fall Again, Rise Again' is the story of my life encapsulated in the bindings of a book and it gives me an immense pleasure to share my story with the world on the completion of a decade of my entrepreneurship journey," Aggarwal told PTI.

Aggarwal, a former top-ranked Wall Street analyst, co-founded e-commerce company ShopClues in 2011 and started online automobile marketplace Droom in 2014. With 80 per cent market share of the automobile transactions online, Droom presently claims to be India's largest pure play online automobile platform.

But then the success came with its own share of ups and downs.

Sued by the United States Department of Justice (DOJ) and Securities Exchange Commission (SEC) in July 2013 for allegedly being involved in insider trading, he had to step down as the CEO of ShopClues in 2015. One of the most-promising start-up, ShopClues, after a series of controversies, including the fall-out between its co-founder and now estranged couple Radhika and Sandeep, was sold to Singapore's e-commerce firm Qoo10 last year.

In February, the US government dropped all criminal charges, and the SEC settled all civil charges against Aggarwal.

According to Rupa Publications, Aggarwal's story is of a middle-class boy who dreamt to make it big someday and saw his dreams crushed by charges of insider trading in the US but rose like a phoenix to create yet another company.

"This is unlike any autobiography, especially among those written by people from the business world. Sandeep's emotional strength and searing honesty will inspire and impact you in a way that is very, very rare," they added.

The book is available for pre-order on Amazon. PTI MG MAH MAH

With the acquisition, the company will leverage augmented and virtual reality in addition to tools using artificial intelligence, to offer new products and solutions for automobile commerce, Droom said in a statement. Droom will provide a live virtual tour of vehicles to customers who can experience it in 3D, it added.

Both co-founders of Visiolab Ideas will join the Droom team, the company said. "This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience," Droom Chief Strategy Officer Akshay Singh said.

Droom introduces an AR-VR lab with this acquisition to enhance the customer experience in their vehicle buying research. Under the acquisition, both co-founders of the company will join the Droom team.

Droom will leverage technological innovations powered by Augmented Reality, Virtual Reality in addition to tools using Artificial Intelligence, Machine Learning, and Big Data to offer new products and solutions for automobile commerce.

With this acquisition, Droom will provide a live virtual tour of vehicles to its customers in 3D. Droom allocated Rs 50 crore last year towards building new and innovative products using AI, AR, and VR.

Commenting on the development, Akshay Singh, chief strategy officer, Droom said, "We are excited to welcome the Visiolab Ideas team to become a part of Droom. At Droom we have built Industry-leading technology-focused products like OBV, Eco, Droom History, Droom Discovery, and Droom Credit for bridging the gap in buying and selling vehicles online. This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience."

"Augmented Reality is the future, not just in the automotive sector, but for education, healthcare, and almost all of the major fields in the market. That is what got us in this field and gave us the motivation to develop the technology that could bring the showroom experience to your doorstep, in the comfort of your homes. We are delighted that Droom gave us a platform to contribute towards India’s online auto marketplace," affirmed Navdeep Singh, founder, and CEO, Visiolab Ideas.

The venture claims it is the largest hyperlocal market and the fourth-largest e-commerce company in India in terms of GMV at present. The acquisition of Visiolabs Idea and the establishment of its AR Lab aims to further strengthen Droom’s position as one of the most innovative automotive and e-commerce organizations in India and across the globe.

Droom has four marketplace formats - B2C, C2C, C2B, and B2B, and three pricing formats - Fixed Price, Best Offer, and Auction. The platform offers a wide range of categories from bicycle to plane and all automobile services such as Warranty, RSA, Insurance, and Auto Loan.

With 80 percent market share of the automobile transactions online, Droom has a presence in 1031+ cities across India, 350K+ auto dealers, 45 million+ monthly visitors, nearly 12 million+ app downloads, and 6.5 million+ Facebook followers.

Headquartered in India with subsidiaries in the US, Droom has so far raised close to $125 million over six rounds of funding. Some of its prominent investors are Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management.​

As per the company, Droom will leverage technological innovations powered by augmented reality, virtual reality in addition to tools using artificial intelligence, machine learning, and big data to offer new products and solutions for automobile commerce. With this acquisition, Droom will provide a live virtual tour of vehicles to customers who can experience it in 3D. Droom allocated Rs 50 crores last year towards building new and innovative products using AI, AR, and VR.

At Droom we have built Industry-leading technology focused products like OBV, Eco, Droom History, Droom Discovery, and Droom Credit for bridging the gap in buying and selling vehicles online, Akshay Singh, chief strategy officer, Droom said. “This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience,” he added.

According to Navdeep Singh, founder and CEO, Visiolab Ideas, augmented reality is the future, not just in the automotive sector, but for education, healthcare, and almost all of the major fields in the market. “That is what got us in this field and gave us the motivation to develop the technology that could bring the showroom experience to your doorstep, in the comfort of your homes. Droom gave us a platform to contribute towards India’s online auto marketplace” he stated.

The acquisition of Visiolabs Idea and establishment of its AR Lab is further expected to strengthen Droom’s position as one of the most innovative automotive and e-commerce organisations in India and across the globe.

Droom introduces an augmented reality (AR) - virtual reality (VR) lab with this acquisition to enhance the customer experience in their vehicle buying research. Under the acquisition, both co-founders of the company will join the Droom team.

Droom will leverage technological innovations powered by AR/ VR in addition to tools using artificial intelligence, machine learning, and Big Data to offer new products and solutions for automobile commerce, the company said.

With this acquisition, Droom will provide a live virtual tour of vehicles to customers who can experience it in 3D. Droom allocated ₹50 crore last year towards building new and innovative products using AI, AR, and VR.​

“At Droom, we have built industry-leading technology-focussed products like OBV, Eco, Droom History, Droom Discovery, and Droom Credit for bridging the gap in buying and selling vehicles online. This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience," Akshay Singh, Chief Strategy Officer, Droom said.​

In addition to this acquisition, Droom has introduced an AR-VR lab to enhance the customer experience in their vehicle buying research. It will be offering a live virtual tour of vehicles for customers to experience it in 3D.

As part of the acquisition, Visiolab co-founders will join the Droom team, said a statement from the company.

A technology and innovation-driven company, Visiolab Ideas operates on industry verticals such as automobile technology, education technology, entertainment, SaaS, and retail. The company mainly focuses on innovations and develops products and services which are able to solve big problems with the use of technology.

Commenting on the acquisition, Akshay Singh, Chief Strategy Officer, Droom, said, “We are excited to welcome Visiolab Ideas team to become a part of Droom. At Droom, we have built industry-leading technology focussed products like OBV, Eco, Droom History, Droom Discovery, and Droom Credit for bridging the gap in buying and selling vehicles online. This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience.” 

Droom will be leveraging technological innovations powered by Virtual Reality, Augmented Reality in addition to tools using Machine Learning, Artificial Intelligence, and big data to offer new products and solutions for automobile commerce.

Last year, Droom allocated Rs 50 crore towards building new and innovative products using AI, AR, and VR. In 2019, Droom launched Internet of Things (IoT) enabled Eco Lab to bring innovations for Eco Inspection, as well as had announced the acquisition of Xeraphin Finvest Pvt. Ltd.

Navdeep Singh, Founder and CEO of Visiolab Ideas, added, "Augmented Reality is the future, not just in the automotive sector, but for education, healthcare, and almost all of the major fields in the market. That is what got us in this field and gave us the motivation to develop the technology that could bring the showroom experience to your doorstep, in the comfort of your homes. We are delighted that Droom gave us a platform to contribute towards India’s online auto marketplace."

Indian online automobile marketplace Droom, on Thursday (October 1), announced that it has acquired Delhi-NCR based augmented reality (AR) startup Visiolab Ideas for an undisclosed amount.

With the acquisition, Droom will look to leverage technologies such as artificial intelligence (AI), AR, virtual reality (VR), machine learning and big data to offer a better customer experience on its automobile commerce platform. One of the ways this will be done by introducing a live virtual tour of vehicles for customers, who will be able to experience the same in 3D as well. With the Visiolab acquisition, Droom will launch an AR/VR lab to enhance the customer experience. Visiolab founders Navdeep Singh (CEO), Sahil Sethi (CTO), will join the Droom team.

“At Droom we have built Industry-leading technology-focused products like OBV, Eco, Droom History, Droom Discovery, and Droom Credit for bridging the gap in buying and selling vehicles online. This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience,” said Akshay Singh, chief strategy officer, Droom.

Droom is an AI and data science-driven online transactional platform for used automobiles, ranging from bicycles to aeroplanes. It has four marketplace formats — B2C, C2C, C2B, and B2B — and three pricing formats — Fixed Price, Best Offer, and Auction. Droom also offers other automobile-related services such as insurance, loan and warranty.

Droom claims to have a presence in more than a thousand Indian cities, with more than 45 Mn monthly visitors, 12 Mn app downloads, and 6.5 Mn Facebook followers.

Droom is headquartered in India with subsidiaries in the US. The company has so far raised close to $125 Mn over six rounds of funding. Some of its prominent investors are Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management.

“Augmented Reality is the future, not just in the automotive sector, but for education, healthcare, and almost all of the major fields in the market. That is what got us in this field and gave us the motivation to develop the technology that could bring the showroom experience to your doorstep, in the comfort of your homes,” said Navdeep Singh, founder and CEO, Visiolab.

Visiolab Ideas is a technology and an innovation-oriented company which looks to leverage augmented reality (AR) and related technologies in various sectors such as education, healthcare and ecommerce, among others. The company competes with SmartVizX, Rizort and Scapic, among other Indian startups in the AR segment.

AR uses tech to overlay the real physical world with visual elements, sound, and other sensory stimuli.

Gurugram-based Droom said the acquisition will help it enhance customer experience. As part of this move, both of Visiolab’s co-founders will join Droom.

While it did not disclose the financial details of the transaction, the company said it allocated Rs 50 crore last year for the development of AR, virtual reality, and artificial intelligence-based products.

Along with the acquisition of Visiolab, Droom is also introducing an AR-VR lab, allowing customers to take live virtual tours of vehicles in 3D.

“This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience,” chief strategy officer Akshay Singh said.

Visiolab, set up in 2018 by Navdeep Singh and Sahil Sethi, focusses on industries including automobile technology, ed-tech, entertainment, software-as-a-service, and retail.

The acquisition comes nearly a year after Droom acquired a non-banking financial company to strengthen its consumer and dealer lending arm, Droom Credit.

At the time, company founder Sandeep Aggarwal said the acquisition of Xeraphin Finvest Pvt. Ltd would help bolster loan-offering capabilities.

Aggarwal, who also co-founded e-commerce portal ShopClues, set up Droom in 2014. The company says it has built out an entire ecosystem around used automobiles.

In October 2018, Droom raised $30 million (around Rs 220 crore) in its Series E funding round, with the company saying it would use the capital to develop Droom Credit.

The Series E investment was led by the family office of Japanese investor Joe Hirao, who is the founder of ZIGExN.

In the same year in May, the company raised another $30 million (around Rs 204 crore) in its Series D round, which was led by Toyota Tsusho Corporation and existing investor Digital Garage of Japan. Toyota Tsusho is the trading arm of the Toyota Group.

ऑटो डेस्क : यूथ में इस समय बाइक्स का ट्रेंड काफी तेजी से बढ़ रहा है। ब्यॉज की चाह होती है कि वह सबसे स्टाइलिश बाइक चलाए लेकिन बाइक्स खरीदना आजकल कार खरीदने के बराबर महंगा हो गया है। ऐसे में बाइक लेना युवाओं के लिए मुश्किल है पर अगर आप शॉपिंग वेबसाइट Droom से बाइक लेते हैं तो बेहद ही कम कीमत में आप सेकेंड हैंड स्पोर्ट्स बाइक खरीद सकते हैं। इस समय कंपनी की आधिकारिक वेबसाइट पर Bajaj Pulsar और TVS Apache जैसी स्पोर्ट बाइक्स सिर्फ13 हजार रुपए में मिल रही है। तो आइये जानते हैं इन बाइक्स के बारे में

Our panelists today, Siddhartha Butalia from Air Asia, Sandeep Aggarwal from Droom and Praval Singh from Zoho.com, probe the layers in the realm of responsible marketing and how effective marketers deal with it. While personalized service and message is important, it needs to address equally well data privacy, brand safety and social responsibility.

Rao also posted a video on Instagram while providing awareness of sanitizers. In his video, he asked for the wellbeing of everyone in this strange time. He also quoted that he knows the situation of COVID-19 in India and the World is going worse with the rising number of cases.

Especially, now the people are moving out for their work. It’s even more important to take care of ourselves in this pandemic COVID-19.

It important to remain hygiene in this situation but it’s more important to sanitize our surrounding and essential things, said Rajkumar. The essential like our home, car, bike, office, and so on.

Rajkumar told via video that for the sanitization of my essential things like my house, car, office, and bike. He only relies on Droom’s Germ Shield which is India’s most trusted, scientific, and technology-driven anti-microbial treatment.

Droom Germ shield is anti-microbial coating; it’s not a cleaning service, said, Rao. He further said that Droom Germ Shield will provide every surface 99.9% germ-free for at least 3 months.

Rajkumar has sanitized his home, car from Droom Germ Shield. By adding, he also stated that “I hope you also go and book your germ-free shield from Droom germ shield services and stay safe from germs.”

On Instagram, he also posted the code “RAJ15” through which you avail 15% off on your first order.

Rajkumar Rao also gives hit movies to Bollywood and list as follows Stree (2018), Queen (2014), and many more movies like Shaadi Mein Zaroor Aana (2017), Shimla Mirchi (2020), Bareilly ki Barfi (2017) and so on.

"Hiring the right people at the right time is harder than it looks", "Funding is exhausting", "The market seems to stall my products" - In the entrepreneurship world, this feels more like nostalgia. Everybody has been there with over a million questions to ask; none to answer.

Startup Summit scheduled on the 24th of the month over three days looks to make use of the digital platform to bring acclaimed speakers and esteemed guests to part their knowledge on entrepreneurship.

The event focuses on helping understand what it takes to make it out in the rigorous competing world outside. With plenty of lessons from billionaires, multi-millionaires, startup professionals, and expert executives in their field, Startup Summit Live brings a lot to the table.

Discussions on trending topics, debates, Q&A rounds, and an exclusive Fireside Chat with accomplished and noteworthy individuals interacting with the Founder Pranav Bhatia himself.

Posing several questions and working towards finding solutions to the same, the event functions around trending, fiery titles such as the rise of Shepreneurs, positioning, and timing while entering the market, startup models, talking business, and what tomorrow has to offer.

The talks also include topics such as funding, incubation, the fitness industry, business continuity, digitization, and a lot more. "Funnelling out the best of the best", "a blueprint to approaching Angels and VCs", "understanding how to maintain a stable cash flow", "building a market-pull product" and so much more.

The gathering doesn't just pose questions but throws out endless possibilities and opportunities for startup enthusiasts to work with.

In experiencing a startup summit of such significance, one also falls for the perks it has to offer. Speakers include Tim Draper, a billionaire investor with successful successive investments in technology and media-driven startups of Tesla, SpaceX, Skype, Hotmail, Focus Media, Robinhood, Twitter, and several others.

Tim is also known for the value education he provides budding entrepreneurs with, and instilling an idea to nurture and grow it into something bigger; Sir Martin Sorrell, an established spokesperson and billionaire investor with 33 plus years of experience in the media and digital marketing field and founder/ CEO of WPP - now a USD 16 billion company is also giving an exclusive interview.

Fabrice Grinda, a successful angel investor with USD 300 plus million in exits and founder of OLX shall be giving a keynote. The summit features live talks from recognized and experienced Indian entrepreneurs including Alok Kejriwal (Games2Win), Ritesh Malik (Innov8), Sandeep Aggarwal (Shopclues, Droom) Shanti Mohan (Lets Venture), Mabel Chacko (Open Financial Technologies ) Vivek Wadhwa (Columnist-Forbes, Author-Driver in the Driverless Car), Sairee Chahal (Sheroes), Sagar Daryani (Wow! Momos), Aloke Bajpai (Ixigo), Pranay Gupta (91Springboard), Surabhi Dewra (CareerGuide) and whopping 100 others!

Startup Summit Live is giving free passes to viewers to join a Livestream of the world's leading entrepreneurs as they give pointers on how to build your dreams right from the ground up. Apart from the free pass, the summit also offers paid passes at nominal rates. The Complete Event pass gives access to Q&A Sessions and Networking Sessions.

Entrepreneur's pass is the limelight of the event giving access to Flagship Keynotes and webinars and video sessions recorded post the event a participation certificate as well. A deal too expensive to miss out on.

The summit is organized by Stirring Minds, an incubator, and an entrepreneurship support system. "COVID confined people to their homes, startup activity had slowed down and the need for learning and networking is prime in early stages, so I realized people would appreciate a platform to convene together in this virtual era. And from there we got Investors, Founders and Dreamers all on a single screen," said Pranav Bhatia, under whose expert guidance Stirring Minds helps entrepreneurs turn their dream startups into a reality with extensive assistance in all presets.

It is an initiative to support, help grow, and nurture the entrepreneurial mind, 'The Stirred One' as they like to call it. Stirring Minds helps provide startup courses, investments, networks, and co-working spaces.

When asked, entrepreneurs are posed with several commanding questions that make decision making a tedious task. And mostly they aren't able to receive all these answers within a single place despite a lot of effort and trial. Stirring Minds refrains from beating around the bush.

"Hiring the right people at the right time is harder than it looks", "Funding is exhausting", "The market seems to stall my products" - In the entrepreneurship world, this feels more like nostalgia. Everybody has been there with over a million questions to ask; none to answer.

Startup Summit scheduled on the 24th of the month over three days looks to make use of the digital platform to bring acclaimed speakers and esteemed guests to part their knowledge on entrepreneurship.

The event focuses on helping understand what it takes to make it out in the rigorous competing world outside. With plenty of lessons from billionaires, multi-millionaires, startup professionals, and expert executives in their field, Startup Summit Live brings a lot to the table.

Discussions on trending topics, debates, Q&A rounds, and an exclusive Fireside Chat with accomplished and noteworthy individuals interacting with the Founder Pranav Bhatia himself.

Posing several questions and working towards finding solutions to the same, the event functions around trending, fiery titles such as the rise of Shepreneurs, positioning, and timing while entering the market, startup models, talking business, and what tomorrow has to offer.

The talks also include topics such as funding, incubation, the fitness industry, business continuity, digitization, and a lot more. "Funnelling out the best of the best", "a blueprint to approaching Angels and VCs", "understanding how to maintain a stable cash flow", "building a market-pull product" and so much more.

The gathering doesn't just pose questions but throws out endless possibilities and opportunities for startup enthusiasts to work with.

In experiencing a startup summit of such significance, one also falls for the perks it has to offer. Speakers include Tim Draper , a billionaire investor with successful successive investments in technology and media-driven startups of Tesla, SpaceX, , Skype, Hotmail, Focus Media, Robinhood, Twitter, and several others.

Tim is also known for the value education he provides budding entrepreneurs with, and instilling an idea to nurture and grow it into something bigger; Sir Martin Sorrell, an established spokesperson and billionaire investor with 33 plus years of experience in the media and digital marketing field and founder/ CEO of WPP - now a USD 16 billion company is also giving an exclusive interview.

Fabrice Grinda , a successful angel investor with USD 300 plus million in exits and founder of OLX shall be giving a keynote. The summit features live talks from recognized and experienced Indian entrepreneurs including Alok Kejriwal (Games2Win), Ritesh Malik (Innov8), Sandeep Aggarwal (Shopclues, Droom) Shanti Mohan (Lets Venture), Mabel Chacko (Open Financial Technologies), Vivek Wadhwa (Columnist-Forbes, Author-Driver in the Driverless Car), Sairee Chahal (Sheroes), Sagar Daryani (Wow! Momos), Aloke Bajpai (Ixigo), Pranay Gupta (91Springboard), Surabhi Dewra (CareerGuide) and whopping 100 others!

Startup Summit Live is giving free passes to viewers to join a Livestream of the world's leading entrepreneurs as they give pointers on how to build your dreams right from the ground up. Apart from the free pass, the summit also offers paid passes at nominal rates. The Complete Event pass gives access to Q&A Sessions and Networking Sessions.

Entrepreneur's pass is the limelight of the event giving access to Flagship Keynotes and webinars and video sessions recorded post the event a participation certificate as well. A deal too expensive to miss out on.

The summit is organized by Stirring Minds, an incubator, and an entrepreneurship support system. "COVID confined people to their homes, startup activity had slowed down and the need for learning and networking is prime in early stages, so I realized people would appreciate a platform to convene together in this virtual era. And from there we got Investors, Founders and Dreamers all on a single screen," said Pranav Bhatia, under whose expert guidance Stirring Minds helps entrepreneurs turn their dream startups into a reality with extensive assistance in all presets.

It is an initiative to support, help grow, and nurture the entrepreneurial mind, 'The Stirred One' as they like to call it. Stirring Minds helps provide startup courses, investments, networks, and co-working spaces.

Startup Summit LIVE: startupsummit.live

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

Covered in PPE kits and armed with gloves and disinfection equipment, volunteers from Delhi-based Right to Safety Foundation are going around south Delhi, offering sanitisation services at minimal prices. For the last two months, the organisation has had their hands full. “Government has tried their best to sanitise outdoor areas but the problem goes beyond that. So we decided to help people out with indoor sanitisation,” says Aamir Ayyub, who founded the organisation to be able to give back to the society.

The group volunteers to disinfect homes, offices and shops at a nominal cost. “We charge ₹100 per room in which bathroom, kitchen, and balcony are also covered, and so far people have been very welcoming of the subsidised services. We also educate people on different sanitisation measures,’’ adds Ayyub. His foundation has so far covered around 500 houses. They have even disinfected a few places of worship, police stations and even fire stations, for free.

But safety doesn’t end at one’s house or workplace. People are also investing in sanitisation of their vehicles as they resume commuting on the roads. A mobile vehicle disinfection stand established by Rajesh Kumar in south Delhi’s Lado Sarai, is one such example. A former graphic designer, Kumar says he thought of helping people stay safe during the pandemic via on-road sanitisation services. “We are slowly expanding to different parts of the Capital via mobile stands. Our prices are subsidised and we ensure that we comply with all safety measures,” adds Kumar, sharing that the footfall has been slow but steady.

“Hopefully more people will understand the need of disinfecting exposed surfaces in the coming days,” says Kumar. And Sweety Asthana, a resident of RK Puram, emphasises on the idea of mobile disinfection services, saying, “Indoor and on-road sanitisation are great ideas. I was informed of these services by a relative in south Delhi, who got her car sanitised while travelling to work. I’ve elderly parents, and the disinfection process ensures that they are protected from getting the virus.’’

There are also some private players who have expanded their basic services to cover the needs that arose during the pandemic. Once such service provider even used its germ-shield technology to sanitise the Gurugram Police control room. Sandeep Aggarwal, head of the online motorplace, says, “We have extended our servicing beyond automobiles to societies and offices as well; wherein they require us to sanitise high footfall places like elevators and ATMs. The demand with individuals has also risen exponentially and we will be expanding, as preventing surface to surface transmission is the primary way to counter coronavirus.”

Droom currently has a network of 82 Germ Shield Stores in 26 different cities. The Germ Shield store network would be of 250 in 50+ cities by end of July 2020.

Droom has created Germ Shield for any type of surfaces or material. This is India’s most scientific way of protecting any surface from all types of microbes. The material used for coating is approved by EPA of the USA and has been proven effective against most viruses, germs, bacteria, molds, fungus, and algae including all droplet-based viruses. Germ Shield technology is also ISO - 9001-2015 & ISO-14001-2015 certified.

Germ Shield not only kills 99.9% germs but also inhibits regrowth of microbes for 90-120 days. This is because Germ Shield is a coating and not cleaning. Germ Shield creates an invisible coating with spikes that ruptures the cell membrane of any microorganism. This coating is odorless and leaves no spot. It creates an equally effective coating on all surfaces including porous surfaces such as fabric, leather, etc.. With each Germ Shield coating treatment, a rapid test for contamination level is generated using the Relative Light Unit (RLU) swab test, which is conclusive, objective, and unbiased. For every treatment, Droom issues a 90-day validity certificate and issues post-treatment RLU levels. Droom also offers a 100% money-back guarantee for Germ Shield for 90 days.

Sandeep Aggarwal, Founder & CEO, Droom said, “This Pandemic has disrupted life as we know it, and the frontline heroes who work outside the safety of their homes are the most vulnerable in this situation. In this fight against the pandemic, our aim is to protect these individuals through our state-of-the-art services. We will continue to extend all possible help to our heroes until the pandemic comes to a close.”

The Germ-Shield technology is quite versatile and can be used not only for vehicles, but also for elevators, ATM, and other facilities such as residential complexes, hospitals, schools, and offices, among others. The treatment can be delivered at Doorstep or fixed location with a national level Germ Shield Store network.

As the country limps out of a lockdown that started on March 25, experts believe Indians are likely to avoid public transport or shared vehicles, which may boost sales of automobiles. The used car market, in particular, is likely to benefit disproportionately as Indians will try to spend less given the uncertain economic environment and the current state of jobs.

“Covid-19 has taken a toll on people’s personal finances as well as businesses in general. In the wake of such events, not a lot of people will prefer spending money on new ones and instead opt for used vehicles to address their personal mobility needs,” credit agency Crisil said in a note on May 29.

Some pre-owned car sellers have already started seeing an uptick in demand, while others are preparing for good times.

Early trends

Even as some parts of India remain under lockdown, potential shoppers in places that have reopened are scouting for used car deals.

“In the third and fourth phase of lockdown, demand and supply for pre-owned cars have started to gain traction especially across the green and orange zones (where cases of Covid-19 are fewer and shops are allowed to open),” said Amit Kumar, business head of OLX Cash My Car, a trading platform for pre-owned cars.

Sales in the segment will rise at least 20% in the coming months as two-wheeler users look to upgrade to cars, which are seen as a safer option given the need for social distancing, said Sandeep Aggarwal, founder and CEO, Droom, an online marketplace to buy and sell automobiles.

Already, the used car market in India is over 1.5 times bigger than the new car market, according to experts. In the financial year ending March 2019, India’s used car sector was valued at $90 billion, selling 4.8 million units.

India’s largest carmaker, Maruti Suzuki, which operates in the pre-owned segment through its True Value brand, also believes that the economic slump and tepid customer sentiment will have a positive rub off on the used-car sector.

“Till the month of February, we registered a growth (in sales) of 4% in True Value,” Shashank Srivastava, executive director of marketing and sales at Maruti Suzuki India, told Quartz. “We are confident that the organised pre-owned car market with its better reach, reliability, transparent pricing, and finance availability will attract customers.”

The popular models in the segment range from Maruti’s affordable hatchbacks such as WagonR and Alto, to Toyota’s sports utility vehicle Fortuner, and Honda’s sedan Accord, according to Droom. There are also several takers for second-hand luxury brands such as BMW and Mercedes.

Most popular cars in pre-owned market in India

But these initial trends do not guarantee a smooth drive to the future.

Speed bumps

Second-hand car sellers may face tough competition from self-driven car rental companies, experts said.

Already, Zoomcar, a leading car rental firm, is positioning itself as a more affordable and convenient option for users who may be looking for personal vehicles to avoid public transport amid Covid-19.

“We are preparing for a four to five-fold increase in demand in the coming months,” said Greg Moran, CEO and co-founder of Zoomcar. “Especially considering the current recession, car subscriptions can prove to be a better option as a more affordable and quicker way of acquiring a car, delivering a safe mobility replacement.”

Besides, pre-owned car sellers may struggle to source sufficient supply in the near future, said Kumar of Cash My Car. A major chunk of the supply in the second-hand car market comes from the exchange schemes on new cars. With new car sales in India dropping to abysmal levels in the past few months, re-sellers might struggle to fill up inventories.

“If the supply continues to be constrained, we will see a slight increase in prices of used cars and the consumers bereft of choice will purchase granny cars (older than five years),” Kumar said.

इस नई पहल के तहत, ड्रूम को पहले ही विभिन्न शहरों और हज़ारों डीलरों और व्यक्तिगत विक्रेताओं से लिस्टेड जीएमवी में 10,000 करोड़ रुपये कीमत की 1.25 लाख से ज़्यादा नई लिस्टिंग मिल चुकी है।3.5 लाख+ ऑटो डीलरों के साथ ड्रूम भारत के 1000+ शहरों में मौजूद है (भारत का सबसे बड़ा हाइपर-लोकल मार्केटप्लेस)। ड्रूम के वर्तमान में 45 मिलियन+ मासिक विज़िटर्स हैं।

ड्रूम के संस्थापक और मुख्य कार्यकारी अधिकारी, संदीप अग्रवाल ने कहा, “ड्रूम ने 6 साल और हजारों करोड़ों रुपये का निवेश करके 100 साल पुराने यूज़्ड ऑटोमोबाइल क्लासीफाइड श्रेणी को संपूर्ण ऑनलाइन ई-कॉमर्स लेन—देन वर्ग में बदला है। इस बीच, हमने न केवल कई तरह के प्लेटफ़ॉर्म, प्रौद्योगिकियों और उपभोक्ता अनुभवों का निर्माण किया, बल्कि 5 लाख से ज़्यादा वाहनों और लगभग इतनी ही संख्या में ऋण, बीमा, मरम्मत, निरीक्षण, आदि की बिक्री की है और यह 100% ऑनलाइन तरीके से किया गया है। कोविड-19 महामारी की वजह से उपभोक्ता भावनाओं में अटल परिवर्तन आया है। हमारी हाई-क्वालिटी और पूरी तरह से ऑनलाइन और कॉन्टेक्टलेस सेवाओं से हमें उपभोक्ता की ज़रूरतों को पूरा करते हुए इस प्रतिमान बदलाव को भुनाने की सुविधा मिलेगी।”

हाल ही में ड्रूम ने संक्रमण फैलने से रोकने और अपने ग्राहकों को सुरक्षित रखने के लिए कई नवीन सेवाएं शुरू की हैं। इसने हाल ही में उपयोगी रोगाणुरोधी कोटिंग से वाहन की सतहों को रोगाणुरहित बनाने के उद्देश्य से जर्म शील्ड सेवा शुरू की, जो 3 महीने के लिए प्रभावी है और 99.99% रोगाणु खत्म कर सकती है। इसने शहर के अग्रिम पंक्ति के योद्धाओं को सुरक्षित रखने के लिए गुरुग्राम पुलिस के लिए एक फ्लीट सेनिटेशन मुहिम शुरू की है। ड्रूम ने जम्पस्टार्ट भी लॉन्च किया, जो लॉकडाउन के बाद की इसके इको प्लेटफार्म का लाभ उठाने वाली एक टेक-सक्षम डोरस्टेप वाहन सेवा है।

नई दिल्ली
कोविड-19 के प्रकोप का मुकाबला करने के लिए अब Online प्लेटफार्म के जरिये नए और पुराने मोटर वाहन बेचने वाली कंपनी ड्रूम ने नई सी-कॉमर्स सेवाओंं को शुरू करने की घोषणा की है। कोरोनावायरस से बचाव के लिए कंपनी इस सेवा को देश भर में लांच किया है। कंपनी को उम्मीद है कि ये सेवाएं सामाजिक दूरी के दिशा निर्देशों को बनाए रखते हुए ग्राहकों को कांटेक्टलेस रहने में मदद करेंगी।

सभी सेवाएं आनलाइन या डोरस्टेप
कंपनी से मिली जानकारी के अनुसार इस कोशिश में, ड्रूम ग्राहकों को अपने व्यापक उपकरण ड्रूम डिस्कवरी, ओबीवी, ड्रूम हिस्ट्री और इको निरीक्षण के ज़रिये ऑनलाइन ही वाहन पर गहन रिसर्च करने की सुविधा देता है। इसके बाद डोरस्टेप टेस्ट ड्राइव और होम डिलीवरी या फ़िर डोरस्टेप पर वाहन सर्टिफ़िकेशन सहित घर या ऑफ़िस की सहूलियत से बिक्री की जा सकती है। इसके अलावा, ड्रूम पूर्ण ऑनलाइन भुगतान विधियों और स्वचालित आरसी पंजीकरण, आरसी हस्तांतरण और लेन-देन करने की भी तैयारी कर रहा है।

1.25 लाख से ज्यादा नई लिस्टिंग
इस नई पहल के तहत, ड्रूम को पहले ही विभिन्न शहरों और हज़ारों डीलरों और व्यक्तिगत विक्रेताओं से लिस्टेड जीएमवी में 10,000 करोड़ रुपये कीमत की 1.25 लाख से ज़्यादा नई लिस्टिंग मिल चुकी है। 3.5 लाख+ ऑटो डीलरों के साथ ड्रूम भारत के 1000+ शहरों में मौजूद है (भारत का सबसे बड़ा हाइपर-लोकल मार्केटप्लेस)। ड्रूम प्लेटफार्म पर इस समय हर महीने 4.5 करोड़ से भी ज्यादा विज़िटर्स हैं।

ग्राहकों के हिसाब से हो रहा है बदलाव
ड्रूम के संस्थापक और मुख्य कार्यकारी अधिकारी, संदीप अग्रवाल का कहना है कि ड्रूम ने बीते 6 साल के दौरान हजारों करोड़ों रुपये का निवेश करके 100 साल पुराने यूज़्ड ऑटोमोबाइल क्लासीफाइड श्रेणी को संपूर्ण ऑनलाइन ई-कॉमर्स लेन—देन वर्ग में बदला है। इस बीच, कंपनी ने न केवल कई तरह के प्लेटफ़ॉर्म, तकनीक और ग्राहकों के अनुभवों को बदला है बल्कि 5 लाख से ज़्यादा वाहनों और लगभग इतनी ही संख्या में ऋण, बीमा, मरम्मत, निरीक्षण, आदि प्रोडक्ट की बिक्री की है। यह सब बिक्री 100% ऑनलाइन तरीके से किया गया है। इस समय कोविड-19 महामारी की वजह से ग्राहकों के सेंटिमेंट में उल्लेखनीय बदलाव हुआ है। इसे देखते हुए ड्रूम ने भी अपनी रणनीति में बदलाव किया है।

संक्रमण नहीं फैले, इसके लिए कई नई सेवाएं
ड्रूम ने संक्रमण फैलने से रोकने और अपने ग्राहकों को सुरक्षित रखने के लिए हाल ही में कई नई सेवाएं शुरू की हैं। इनमें रोगाणुरोधी कोटिंग से वाहन की सतहों को रोगाणुरहित बनाने के उद्देश्य से जर्म शील्ड सेवा शुरू शामिल है, जिससे वाहन 3 महीने के लिए रोगाणुओं से 99.99% सुरक्षित हो जाता है। इसने शहर के अग्रिम पंक्ति के योद्धाओं को सुरक्षित रखने के लिए गुरुग्राम पुलिस के लिए एक फ्लीट सेनिटेशन मुहिम शुरू की भी शुरूआत की है। ड्रूम ने जम्पस्टार्ट भी लॉन्च किया, जो लॉकडाउन के बाद की इसके इको प्लेटफार्म का लाभ उठाने वाली एक टेक-सक्षम डोरस्टेप वाहन सेवा है।

The company is also deploying full online payment methods and automated registration of the registration certificate (RC), RC transfer, and transaction closure.

Under this new initiative, The company said it has already received over 1.25 Lacs new listings worth Rs. 10,000 crores in listed GMV from different cities and more than thousands of dealers and Individual sellers.

Speaking on the development, Sandeep Aggarwal, Founder & CEO, Droom said, “Droom has invested the last 6 years and thousands of crores rupees to transform a 100-year-old pre-owned automobile classifieds category to an online end to end E-Commerce transactional category. During this time, we not only built a whole plethora of platforms, technologies, and consumer experiences but also have sold over 500k vehicles and equal number of loans, insurance, repair, inspection, etc and that to 100% pure-play online environment. The COVID-19 pandemic has led to an irrevocable transformation in consumer sentiments. Our high-quality fully online and contactless services will allow us to capitalize on this paradigm shift while catering to consumer needs efficiently.”

Under this new initiative, Droom has already received over 1.25 Lacs new listings worth Rs. 10,000 crores in listed GMV from different cities and more than thousands dealers and Individual sellers.

Droom has a presence in 1000+cities across India (India’s largest hyper-local marketplace) with 350K+ auto dealers. Droom currently has 45 Million+ monthly visitors on its platform.

Speaking on the development, Sandeep Aggarwal, Founder & CEO, Droom said, “Droom has invested last 6 years and thousands of crores rupees to transform a 100 year old pre owned automobile classifieds category to an online end to end E-Commerce transactional category. During this time, we not only built whole plethora of platform, technologies and consumer experiences but also have sold over 500k vehicles and equal number of loans, insurance, repair, inspection, etc and that to 100% pure play online environment. The COVID-19 pandemic has led to an irrevocable transformation in consumer sentiments. Our high-quality fully online and contactless services will allow us to capitalize on this paradigm shift while catering to consumer needs efficiently.”

Recently Droom has introduced several innovative services to contain the spread and protect its customers. It recently launched the Germ Shield service, aimed at decontaminating vehicle surfaces with a proven antimicrobial coating which is effective for 3 months and can 99.99% Germs. It also extended a fleet sanitization drive for Gurugram Police to ensure the safety of the city’s frontline warriors.

This service includes jump start of a vehicle along with tire maintenance, inspection of critical functions and oil and lube top-up. Besides the main jump start device packages user can avail many more add-on services including towing, gas fill, flat tyre repair, pressure water cleaning and full top-up of oil, lubricant, coolant etc. It is a doorstep service designed for two-wheelers and four-wheelers.

इसी को देखते हुए ऑनलाइन ऑटोमोबाइल लेन-देन मार्केटप्लेस ड्रूम ने एक अनूठी सर्विस ‘जम्पस्टार्ट-ऑटोकेयर’ शुरू की है. इस सर्विस के जरिए आप लॉकडाउन खुलने के बाद अपने घर पर अपने व्हीकल के मेंटीनेंस से जुड़ी सर्विस पा सकते हैं. जम्पस्टार्ट की डोरस्टेप सर्विस 499 रुपये से शुरू है और टूव्हीलर व फोरव्हीलर, दोनों तरह के वाहनों के लिए डिजाइन की गई है. फ्लीट कंपनियां, आरडब्ल्यूए, अस्पताल, लॉजिस्टिक्स प्रदाता, निजी और सार्वजनिक बस मालिक, कम्यूट देने वाले होटल, गैरेज आदि सभी इस सर्विस का लाभ उठा सकते हैं.

जम्पस्टार्ट सर्विस की लागत
– स्कूटर/बाइक- 499 रु
– सुपरबाइक- 699 रु
– हैचबैक कार- 999 रु
– सेडान कार- 1299 रु
– SUV- 1599 रु

सर्विस में क्या-क्या शामिल जम्पस्टार्ट सर्विस में टायरों का रखरखाव, महत्वपूर्ण कार्यों की जांच और ऑयल व ल्यूब्रिकंट टॉप-अप के साथ-साथ लंबे वक्त से बंद पड़े व्हीकल को स्टार्ट करना आदि शामिल है. मुख्य जंप स्टार्ट डिवाइस पैकेज के अलावा यूजर टोइंग, गैस फिल, फ्लैट टायर की मरम्मत, प्रेशर वॉटर क्लीनिंग और ऑयल, ल्यूब्रिकेंट, कूलंट आदि की टॉप-अप सेवाओं का लाभ उठा सकते हैं.

कैसे लें फायदा?
जम्पस्टार्ट सर्विस का फायदा लेने के लिए droom.in/jumpstart या ड्रूम ऐप का इस्तेमाल करना होगा. यूजर्स वाहन, लोकेशन, मेन सर्विस और इस प्रक्रिया में किसी भी एड-ऑन सेवाओं को चुन सकते हैं. वे अपनी सुविधा के अनुसार टाइम स्लॉट चुन सकते हैं और भुगतान की पुष्टि कर सकते हैं या बाद में भुगतान कर सकते हैं. इसके बाद ड्रूम इस काम को करने के लिए एक इको-निंजा या तकनीशियन नियुक्त करता है, जो सर्विसिंग प्रक्रिया पूरी होने के बाद संबंधित ग्राहक को इको जम्प स्टार्ट रिपोर्ट देता है. ग्राहक तकनीशियन को मौके पर अपने मौजूदा पैकेज में जोड़कर किसी भी अतिरिक्त सेवा को करने को भी कह सकता है. वर्तमान में ड्रूम के पास हजारों इको तकनीशियन हैं, जो भारत के अधिकांश टॉप शहरों में यह सेवा प्रदान करते हैं.

मुख्य जंप स्टार्ट डिवाइस पैकेज के अलावा यूजर टोइंग, गैस फिल, फ्लैट टायर की मरम्मत, प्रेशर वॉटर क्लीनिंग और ऑयल, ल्यूब्रिक्रंट, कूलंट आदि की टॉप-अप सेवाओं का लाभ उठा सकते हैं।

यूजर्स वाहन, लोकेशन, मेन सर्विस और इस प्रक्रिया में किसी भी एड-ऑन सेवाओं को चुन सकते हैं। वे अपनी सुविधा के अनुसार टाइम स्लॉट चुन सकते हैं और भुगतान की पुष्टि कर सकते हैं या बाद में भुगतान कर सकते हैं। इसके बाद ड्रूम इस काम को करने एक 'इको-निंजा' या तकनीशियन नियुक्त करता है, जो सर्विसिंग प्रक्रिया पूरी होने के बाद संबंधित ग्राहक को इको जम्प स्टार्ट रिपोर्ट देता है। ग्राहक तकनीशियन को मौके पर अपने मौजूदा पैकेज में जोड़कर किसी भी अतिरिक्त सेवाओं को करने को भी कह सकता है।

इस लॉन्च पर टिप्पणी करते हुए ड्रूम के संस्थापक और सीईओ संदीप अग्रवाल ने कहा, “लॉकडाउन की अवधि बढ़ने के मद्देनजर एक अनुमान के मुताबिक भारत में करीब 5 से 25 मिलियन वाहन शुरू होने में या मूव करेन में दिक्कत दे सकते हैं। इको ने 2016 के बाद से वाहनों के प्रमाणन, बड़ी संख्या में ऑटोमोबाइल वाहनों के स्वास्थ्य और सुरक्षा को सुनिश्चित करने के लिए जांचों के साथ ही हाल ही में पेश स्पेशल जर्म शील्ड सेवा के जरिये एंटीमाइक्रोबियल ट्रीटमेंट पेश करने तक लंबा सफर तय किया है।"

निसान मोटर इंडिया 
निसान मोटर इंडियाने आपल्या सर्व ग्राहकांच्या सुरक्षिततेसाठी आणि उत्तम आरोग्यासाठी सूक्ष्मजीवविरोधी निर्जंतुकीकरण मोहीम सुरू केली आहे. 
या उपक्रमांतर्गत ग्राहकांचा सतत संपर्क येईल, असा गाडीचा बाह्यभाग आणि अंतर्भाग, जसे की गाडीच्या दरवाजांचे हॅंडल्स, स्टीअरिंग व्हील, गीअर नॉब्ज अशा सर्व भागांचे सूक्ष्मजीव निर्जंतुकीकरण निसानच्या सर्व डीलर्सच्या माध्यमातून विनामूल्य केले जाणार आहे. या व्यतिरिक्त एसी डक्‍ट सिस्टिम, कार्पेट आदी भाग निर्जंतुक करणाऱ्या इंटिरिअर फॉगिंग ट्रीटमेंटचा वापर करून वाहनाचे संपूर्ण निर्जंतुकीकरण, तसेच स्प्रेइंगच्या माध्यमातून बाह्य भागाचे निर्जंतुकीकरण करणारी सेवाही किफायतशीर दरात उपलब्ध करून दिली जाणार आहे. 15 मे ते 30 जून या कालावधीत होणाऱ्या वी सॅनिटाइज टु प्रोटेक्‍ट यू या शिबिरांतर्गत निसान आणि डॅट्‌सनच्या ग्राहकांना डीलरकडून फोन, ई-मेल आणि एसएसएस आदी माध्यमातून निमंत्रण प्राप्त होईल. ग्राहकांना या शिबिराच्या माध्यमातून विशेष सूक्ष्मजीवविरोधी निर्जंतुकीकरण सेवेचा लाभ घेता येईल. लॉकडाउनच्या काळात गाडीची देखभाल करण्यासंदर्भात निसान आपल्या सर्व ग्राहकांना वेबसाइट, सोशल मीडिया आणि ईमेलच्या माध्यमातूनही मार्गदर्शन करत आहे. 

वॉल्वो कार इंडिया 
सुरक्षेत अग्रेसर आणि लोकांना सुरक्षित ठेवण्याचे आपले वचन जपत वॉल्वो कार इंडियाच्या वतीने #SafestPlaceToBeया अभिनव ग्राहककेंद्री पद्धतीचा अंगीकार करण्यात आला आहे. या उपक्रमाचा भाग म्हणून सर्व वॉल्वो विक्रेता सुविधा केंद्रे निर्जंतुक करण्यात आली आहेत. संपूर्ण देशात कार्यरत असणाऱ्या अधिकाऱ्यांना पीपीई आणि सनिटायरर्सचा देण्यात आली आहेत. विक्रेत्यांकडे असणाऱ्या गाड्या आणि नमुना म्हणून ग्राहकांना उपलब्ध करून देण्यात येणाऱ्या डेमॉन्स्ट्रेशन कार्स 3 एम सोबत निर्जंतुक करण्यात येणार आहेत. या टाळेबंदीच्या कालावधीत ग्राहकांना सुरक्षित ठेवण्यासाठी खालील एक्‍स्पर्ट सोल्यूशन्स देऊ करण्यात येत आहेत: 

व्हील्सआय 
लॉकडाउनच्या पार्श्वभूमीवर ट्रक मालकांच्या सक्षमीकरणावर लक्ष केंद्रित असलेल्या व्हील्सआय या हायपर ग्रोथ स्टार्सअपने ट्रक मालिक सहाय्यता केंद्राची सुरुवात केली आहे. या ऑनलाइन पोर्टलद्वारे ट्रकचालकांना महत्त्वाच्या बातम्या तसेच ट्रान्सपोर्टेशन इंडस्ट्रीसंबंधी धोरणात्मक घोषणांची माहिती देण्याचा कंपनीचा हेतू आहे. या क्षेत्रातील लोकांना येणाऱ्या ईएमआयविषयक अडचणी, अन्न व निवा-याच्या समस्या, अफवांवर आळा घालणे, उद्योगपूरक धोरणांबद्दल जागरुकता निर्माण करणे यासारख्या अडचणी सोडवून या उद्योगाला आधार देणे, ही यामागील संकल्पना आहे. महामार्गांवर अडकलेल्या ट्रक मालक आणि चालकांना ऑनलाइन पोर्टलवरून भारतभरातील जवळपासच्या शासकीय अधिकृत व खाजगी अन्न व निवारा केंद्रांचाही शोध घेता येईल. ब्रॅंडने देशभरातील हजारांपेक्षा जास्त केंद्रांवर ट्रक चालकांना अन्न व निवासाची व्यवस्था पुरवली आहे. अनिवार्य लॉकडाउनच्या पार्श्वभूमीवर सरकार अधिकृत जवळचे मेंटेनन्स वर्कशॉप व दुरूस्ती केंद्रही या पोर्टलवरून शोधता येईल. मुख्य जम्पस्टार्ट डिव्हाइस पॅकेजसह यूझर टोइंग, गॅस फिल, फ्लॅट टायरची दुरूस्ती, प्रेशर वॉटर क्‍लीनिंग आणि ऑइल, ल्यूब्रिकंट, कूलंट इत्यादीसाठी टॉप अप सेवांचा लाभ घेता येईल. 

ड्रूमद्वारे घरपोच वाहन दुरुस्ती सेवा 
लॉकडाऊन संपल्यावर आपले वाहन सुरु करताना मालकांना अनेक आव्हानांचा सामना करावा लागू शकतो. ही समस्या सोडवण्यासाठी भारतातील सर्वात मोठा आणि अग्रेसर ऑनलाइन ऑटोमोबाइल ट्रान्सपोर्ट मार्केटप्लेस असलेल्या ड्रूमने संपूर्ण भारतातील ग्राहकांसाठी जम्पस्टार्ट-ऑटोकेअर नावाची एक अनोखी घरपोच सेवा सुरू केली आहे. या सेवेत टायर्सची देखभाल, महत्त्वाच्या भागांची तपासणी, ऑइल व लुब्रिकंट टॉप अपसह वाहनांच्या जम्पस्टार्टचा समावेश आहे. यात मुख्य जम्पस्टार्ट डिव्हाइस पॅकेजसह यूझर टोइंग, गॅस फिल, फ्लॅट टायरची दुरूस्ती, प्रेशर वॉटर क्‍लीनिंग आणि ऑइल, ल्यूब्रिकंट, कूलंट इत्यादीसाठी टॉप अप सेवांचा लाभ घेता येईल. ग्राहक आपल्या सोयीनुसार, टाइम स्लॉट निवडू शकतात आणि पेमेंटची हमी देऊन नंतरही पेमेंट करू शकतकात. त्यानंतर ड्रूम हे काम करण्यासाठी एक इको-निंजा किंवा तंत्रज्ञ नियुक्त करते. हा तंत्रज्ञ सर्व्हिसिंग प्रक्रिया पूर्ण झाल्यानंतर संबंधित ग्राहकाला इको जम्प स्टार्ट रिपोर्ट देतो. ग्राहक ऐनवेळी तंत्रज्ञाला निश्‍चित केलेल्या पॅकेजमध्ये आणखी अतिरिक्त सेवा देण्यासही सांगू शकतो. 

दरअसल में ज्यादा लंबे समय तक Car बाइक अगर बिना चले घर पर पार्क रहे तो उस में दिक्कत आना जाहिर सी बात है। ऐसे में आप अगर चाहे तो ऑनलाइन वेबसाइट ड्रूम पर जंपस्टार्ट ऑटो केयर सर्विस का फायदा ले सकते हैं। हालांकि यह सर्विस लॉक डाउन खुलने के बाद शुरू होगी।

इस सर्विस में आप महज ₹499 से बुकिंग कर सकते हैं और अपने टू व्हीलर और फोर व्हीलर की सर्विसिंग करवा सकते हैं। इस नई सेवा के तहत आप अपने घर पर फ्लीट कंपनियां, आरडब्लूए, अस्पताल, लॉजिस्टिक, सार्वजनिक बस मालिक, कंप्यूट देने वाले होटल और गैरेज आदि सभी सर्विस का फायदा ले सकते हैं। ( Droom Door Step Servicing )

इस सर्विस में स्कूटर या बाइक की सर्विसिंग के लिए आपको ₹499, सुपर बाइक की सर्विसिंग के लिए ₹699, हैचबैक कार के लिए ₹999, सेडान कार के लिए 1299 रुपए और एसयूवी कार के लिए 1599 रुपए चुकाने पड़ेगे और घर बैठे आपके वाहन की सर्विसिंग हो जाएगी।

Besides the main Jump Start device packages user can avail many more add-on services including towing, gas fill, flat tire repair, pressure water cleaning, and full top-up of oil, lubricant, coolant, etc.

Users can select vehicle, location, main service, and any add-on services they require in the process. They can choose a time slot as per their convenience and confirm the payment or choose to pay later. Droom then assigns an ‘eco-ninja’ or technician to perform the job, who also issues an ECO jump start report to the respective customer once the servicing process is completed. A customer can also ask the technician to perform any of the additional services by adding them to their existing package on the spot.

Commenting on the launch, Sandeep Aggarwal, Founder & CEO, Droom said, “In the wake of an extended lockdown, anywhere between 5 to 25 million vehicles in India might not start or move. Eco has come long way from offering any vehicle’s inspection anywhere since 2016 to complete vehicle certification, large automobile fleet health and safety to recent launch of Germ Shield, an antimicrobial treatment for automobiles and facilities. We leverage IOT, AI, cloud infrastructure, mapping technologies for field operations to fully mobile technology driven work flow management for standard service delivery. To serve our customers better, we launched Germ Shield in March and will continues to launch more such unique services in the times to come.”

Jumpstart costing would be as follows:
Scooter/Bike – INR 499
Superbike – INR 699
Hatchback – INR 999
Sedan – INR 1299
SUV – INR 1599

Besides the jumpstart, the service will also include tyre maintenance, inspection of critical functions and oil and lube top-up. Users can select vehicle, location, main service and any add-on services they require in the process. They can choose a time slot as per their convenience and confirm the payment or choose to pay later.

A technician or ‘eco-ninja’ is assigned to perform the job, who also issues an ECO jump start report to the respective customer once the servicing process is completed. A customer can also ask the technician to perform any of the additional services by adding them to their existing package on the spot.

“We leverage IoT, AI, cloud infrastructure, mapping technologies for field operations to fully mobile technology-driven workflow management for standard service delivery. To serve our customers better, we launched Germ Shield in March and will continue to launch more such unique services in the times to come,” Sandeep Aggarwal, Founder & CEO, Droom said.

Jumpstart service cost varies depending upon the vehicle tye. The prices are as follows:
Scooter/Bike – Rs 499
Superbike – Rs 699
Hatchback – Rs 999
Sedan – Rs 1299
SUV – Rs 1599
Fleet companies, RWAs, hospitals, logistics providers, private and public bus owners, hotels that offer commute, garages, dealerships, can all avail of this service. There are currently thousands of technicians who provide this service in most of the top cities across India. Head to Droom’s official website or download the app to book a service.

During the event, Sandeep Aggarwal - Founder & CEO, Droom addressed the sellers via a video message. "The entire business community is feeling the effects of the pandemic. In these difficult times, I hope you and your families are safe and exercising all precautions and safety measures. Droom is fully committed to the sellers and would take all possible steps to serve you better. We are coming up with some unique offerings and suggestions for you and would need your inputs. Please use this platform to share your thoughts or suggestions which are very important for us. Together we will overcome this too,"

At the event, the decision of service extension for the sellers was announced with the aim of providing an uninterrupted selling experience to the dealers amid the strangulated demand landscape. The extended services of the Pro-Seller Subscription will now be applicable from 15th April to 15th July 2020. Another announcement involved the initiative of becoming a reseller of the brand’s most innovative sanitization service Germ Shield.

Speaking about the first Digital Seller Meet, Aggarwal added, “At Droom, we are dedicated to extending our wholehearted support towards the empowerment of the country’s thriving dealer community. Droom is accelerating at speed and making auto dealer community more digital-ready with the recent launch of Dealership Management System in addition to the online showroom and whole suite of app or site enabled self-service tools and technologies to run dealership.”

Germ-shield, a technology launched under Droom Health, is an antimicrobial surface protection shield. Proven to be effective against SARS and other droplet-based viruses for up to 3 months, it guards surfaces against harmful microbes by inhibiting the growth of microorganisms such as bacteria, algae, yeast, mold, and mildew. The technology polymerizes (bonds) to any surface resulting in a strong, durable, invisible and effective shield with a 99.99% microbial reduction rate.

As part of the initiative, Droom's Germ-Shield team will primarily conduct a Digital Swab test to check the contamination level of the facility. Based on the germ-risk threat perception, these areas will be divided into red 'high risk', orange 'medium risk', yellow 'low risk' and green 'no risk' zones. While the 'high risk' and 'medium risk' zones will be treated with the Germ-Shield technology, other low-risk areas will also be thoroughly sanitized using other effective cleaning solutions.

Commenting on the initiative, Sandeep Aggarwal, Founder & CEO, Droom said, "At Droom, we are striving to create tech and data driven solutions that can contain the spread of COVID-19 and help the country safely survive this pandemic. In line with this vision, we have expanded the reach of our Germ-Shield technology beyond the Automobile category. It is an effective solution to keep sensitive physical spaces deeply sanitized, clean and disinfected, thus ensuring utmost hygiene and protection against the fast-growing contagion."

Germ Shield costing would be as follows:

· Schools, hospitals - ranging from INR 8 to INR 15 per square feet area.

· Elevators - INR 799 for small, INR 999 for medium and INR 1499 for large elevators.

· ATM - INR 1499.

Droom has already delivered Germ Shield for facility for elevators, residential complexes, pharmacies and health care providers in NCR.

Beyond this Droom is offering Bi-annual and Annual subscriptions also thus enabling users to choose according to their needs. Currently, Germ Shield is available in NCR with the plan to expand into all meteors in near future.

Germ-shield, a technology launched under Droom Health, is an antimicrobial surface protection shield. Proven to be effective against SARS and other droplet-based viruses for up to 3 months, it guards surfaces against harmful microbes by inhibiting the growth of microorganisms such as bacteria, algae, yeast, mold, and mildew. The technology polymerizes (bonds) to any surface resulting in a strong, durable, invisible and effective shield with a 99.99% microbial reduction rate.

As part of the initiative, Droom’s Germ-Shield team will primarily conduct a Digital Swab test to check the contamination level of the facility. Based on the germ-risk threat perception, these areas will be divided into red ‘high risk’, orange ‘medium risk’, yellow ‘low risk’ and green ‘no risk’ zones. While the ‘high risk’ and ‘medium risk’ zones will be treated with the Germ-Shield technology, other low-risk areas will also be thoroughly sanitized using other effective cleaning solutions, said the company.

Commenting on the initiative, Sandeep Aggarwal, Founder & CEO, Droom said, “At Droom, we are striving to create tech and data driven solutions that can contain the spread of COVID-19 and help the country safely survive this pandemic. In line with this vision, we have expanded the reach of our Germ-Shield technology beyond the Automobile category. It is an effective solution to keep sensitive physical spaces deeply sanitized, clean and disinfected, thus ensuring utmost hygiene and protection against the fast-growing contagion.”

Germ Shield costing would be as follows:

Schools, hospitals - ranging from INR 8 to INR 15 per square feet area.

Elevators - INR 799 for small, INR 999 for medium and INR 1499 for large elevators.

ATM - INR 1499.

Droom has already delivered Germ Shield for a facility for elevators, residential complexes, pharmacies and health care providers in NCR.

Beyond this Droom is offering Bi-annual and Annual subscriptions also thus enabling users to choose according to their needs. Currently, Germ Shield is available in NCR with the plan to expand into all metros in the near future.

देश भर में बढ़ रहे कोरोना के मामलों में इस जंग से प्राइवेट कंपनियां भी मदद के लिए आगे आई हैं। ऑनलाइन ऑटो मोबाइल कंपनी ड्रूम ने पुलिस के वाहनों को आधुनिक तकनीक से सैनिटाइजेशन कराया। इसके तहत पुलिस की पीसीआर, राइडर व अन्य वाहनों की गहराई से सफाई की जाएगी। ड्रूम हेल्थ के तहत जर्म-शील्ड टेक्नॉलजी लॉन्च की गई थी। यह कारों और दुपहिया वाहनों के लिए एक एंटी-माइक्रोबियल सरफेस प्रॉटेक्शन शील्ड के तौर पर काम करती है। कंपनी के सीईओ संदीप अग्रवाल ने इस पहल पर कहा कि स्वास्थ्यकर्मियों की तरह देश का पुलिस बल भी कोरोनोवायरस के खिलाफ लड़ाई में फ्रंटलाइन योद्धा के तौर पर जंग लड़ रहा है। अभियान पर डीसीपी हेडक्वॉर्टर नितिका गहलौत ने कहा कंपनी की ओर से शुरू किया गया ड्राइव बेहतर कदम है। कंपनी की ओर से पहले दिन दर्जनों वाहनों को सैनिटाइज किया गया।

The company said it is extending its Germ-Shield technology to sanitize the fleet of cars and bikes currently used by Gurugram Police.

Germ-shield, a technology launched under Droom Health, is an antimicrobial surface protection shield for cars and two-wheelers. Droom claims the technology to be effective against SARS and other droplet-based viruses for up to 3 months.

Speaking on the initiative, Sandeep Aggarwal, Founder & CEO, Droom, said, “This fleet sanitization drive for Gurugram Police is a part of Droom’s contribution towards the protection of these brave warriors and real heroes of our society. While our technology provides safety from viruses for 3 months, keeping in mind the challenge that Gurugram police faces while dealing with the Pandemic, we will be sanitizing their several vehicles on a daily basis until the nation achieves victory over COVID-19.”

Commenting on the sanitization drive, Nitika Gahlaut, IPS DCP Headquarters, Gurugram, said, “We are grateful to Droom for launching this service and protecting us against the highly-contagious Coronavirus. A major element of containing the Coronavirus contagion is inhibiting surface-to-surface transmission, and Droom’s Germ-Shield technology is a big step towards this goal.”

ड्रूम हेल्थ के तहत जर्म-शील्ड टेक्नोलॉजी लॉन्च की गई थी। यह कारों और दुपहिया वाहनों के लिए एक एंटी-माइक्रोबियल सरफेस प्रोटेक्शन शील्ड के तौर पर काम करती है। यह शील्ड सार्स और अन्य ड्रॉपलेट- बेस्ड वायरस के खिलाफ तीन महीने तक प्रभावी रहती है और बैक्टीरिया, अल्गी, यीस्ट, मोल्ड और फफूंद जैसे माइक्रो ऑर्गेनिज्म को पनपने नहीं देती। हानिकारक रोगाणुओं से वाहनों की सतह को सुरक्षित रखती है। यह टेक्नोलॉजी किसी भी सरफेस को 99.99% माइक्रोबियल रिडक्शन रेट के साथ मजबूत, टिकाऊ, अदृश्य और प्रभावी तौर पर पॉलीमराइज़ करती है।

ड्रूम के संस्थापक और सीईओ संदीप अग्रवाल ने इस पहल पर कहा, “स्वास्थ्यकर्मियों की तरह देश का पुलिस बल भी कोरोनोवायरस के खिलाफ लड़ाई में फ्रंटलाइन योद्धा के तौर पर जंग लड़ रहा है। गुरुग्राम पुलिस के वाहनों के लिए यह सेनेटाइजेशन अभियान इन बहादुर योद्धाओं और हमारे समाज के वास्तविक नायकों की सुरक्षा में ड्रूम का योगदान है। उन्होनें कहा कि हम जानते हैं कि गुरुग्राम पुलिस को महामारी से निपटने के दौरान रोज ही चुनौतियों का सामना करना पड़ता है। इस वजह से हम उनके सभी वाहनों को रोज ही तब तक सेनेटाइज करेंगे जब तक कि हमारा देश कोविड-19 पर जीत हासिल नहीं कर लेता।”

Germ-shield, a technology launched under Droom Health, is an antimicrobial surface protection shield for cars and two-wheelers. Proven to be effective against SARS and other droplet-based viruses for up to three months, it guards surfaces against harmful microbes by inhibiting the growth of micro-organisms such as bacteria, algae, yeast, mold, and mildew, the company said.

The technology polymerizes (bonds) to any surface resulting in a strong, durable, invisible and effective barrier with a 99.99 per cent microbial reduction rate, it added.

“Just like the health workers, the country’s police force is also at the forefront of the fight against Coronavirus. This fleet sanitization drive for Gurugram Police is a part of Droom’s contribution towards the protection of these brave warriors and real heroes of our society. While our technology provides safety from viruses for three months, keeping in mind the challenge that Gurugram police faces while dealing with the pandemic, we will be sanitizing their several vehicles on a daily basis until the nation achieves victory over COVID-19,” said Sandeep Aggarwal, Founder & CEO – Droom.

Nitika Gahlaut, IPS DCP Headquarters, Gurugram, said, “We are grateful to Droom for launching this service and protecting us against the highly-contagious coronavirus. It is our duty to ensure the health and safety of citizens and staying protected from the virus ourselves is a big part of protecting others. A major element of containing the coronavirus contagion is inhibiting surface-to-surface transmission, and Droom’s germ-shield technology is a big step towards this goal.”

Germ-shield, a technology launched under Droom Health, is an antimicrobial surface protection shield for cars and two-wheelers. Proven to be effective against SARS and other droplet-based viruses for up to 3 months, it guards surfaces against harmful microbes by inhibiting the growth of microorganisms such as bacteria, algae, yeast, mold, and mildew. The technology polymerizes (bonds) to any surface resulting in a strong, durable, invisible and effective barrier with a 99.99% microbial reduction rate.

Speaking on the initiative, Sandeep Aggarwal, Founder & CEO – Droom, said, “This fleet sanitization drive for Gurugram Police is a part of Droom’s contribution towards the protection of these brave warriors and real heroes of our society. Our Germ-Shield solution will inhibit the accumulation of on automobile surfaces, ensuring utmost hygiene and protection against the fast-growing virus spread. While our technology provides safety from viruses for 3 months, keeping in mind the challenge that Gurugram police faces while dealing with the Pandemic, we will be sanitizing their several vehicles on a daily basis until the nation achieves victory over COVID-19"

Commenting on the sanitization drive, Nitika Gahlaut, IPS DCP Headquarters, Gurugram, said, “We are grateful to Droom for launching this service and protecting us against the highly-contagious Coronavirus. It is our duty to ensure the health and safety of citizens and staying protected from the virus ourselves is a big part of protecting others. A major element of containing the Coronavirus contagion is inhibiting surface-to-surface transmission, and Droom’s Germ-Shield technology is a big step towards this goal.”

The United States Department of Justice (DOJ) has dropped all charges against him, he said in a statement.

Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst. Aggarwal founded Droom in April 2014.

“Those times were tough for me, my family and my team members. However, I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision to permanently change how automobiles are bought and sold in the 21st century,” said Aggarwal.

According to Droom CEO Sandeep Aggarwal, this will be the company's sixth funding round, for which Credit Suisse and "two more advisers" have been mandated to find investors. Droom is planning an IPO listing in end-2021 and the funding will be wrapped up "in the next 4-5 months", Aggarwal said.

Currently valued at just under $1 billion, Droom has so far raised around $125 million from investors including Lightbox, Singapore-based global fund Beenext, Japanese firm Beenos, Tokyo-based VC firm Digital Garage, Toyota Tsusho Corporation, and Hong Kong based multi-billion family office Integrated Assets Management.

"Many of our current investors will participate but a new one will lead the round," said Aggarwal. Earlier, several investors in the company had participated in multiple rounds.

According to Droom CEO Sandeep Aggarwal, this will be the company's sixth funding round, for which Credit Suisse and "two more advisers" have been mandated to find investors. Droom is planning an IPO listing in end-2021 and the funding will be wrapped up "in the next 4-5 months", Aggarwal said.

Currently valued at just under $1 billion, Droom has so far raised around $125 million from investors including Lightbox, Singapore-based global fund Beenext, Japanese firm Beenos, Tokyo-based VC firm Digital Garage, Toyota Tsusho Corporation, and Hong Kong based multi-billion family office Integrated Assets Management."Many of our current investors will participate but a new one will lead the round," said Aggarwal. Earlier, several investors in the company had participated in multiple rounds.

In 2019, the company saw its net revenue double to $32 million from $16 million in 2018. It estimates that the net revenue in 2020 will increase to $63 million.

It also expects its orders to increase from 6.11 lakh in 2019 to 15.95 lakh in 2020. Besides that, Droom estimates the total number of listings on its platform to increase from 18.51 lakh in 2019 to 24.14 lakh this year.

Droom’s IPO dreams
The startup has confirmed to AutoStory that while its focus will be on the American stock exchange, the high level of compliances required to be met for Nasdaq will prepare them equally for listing at the other three exchanges.

Speaking to AutoStory, Sandeep Aggarwal, CEO and Founder of Droom, said, “By the time we file for our IPO, if we get more comparable assets in Hong Kong and we see a business rationale, we may consider Hong Kong. The same is the case for other listings.”

When asked about why Nasdaq, Sandeep said that he wants to see Droom competing with the global technology stocks which are in essence true competitors for a global business like his.

This strategy was also used by the online travel company MakeMyTrip when it listed on Nasdaq in 2010. To make the listing compliant with regulatory norms, Indian companies externalise its structure by commencing a new parent company in the country where it is aiming to be listed.

However, the Indian government is working to this end by bringing changes in the Company’s Act as confirmed by the Finance Minister Nirmala Sitharaman during her budget speech on February 1, 2020. Sources close to the development suggest that the government wants these tech companies to be registered in India.

Speaking about the long delay in Droom’s listing plans, Sandeep said, “2019 was a very tumultuous year due to the US-China trade tariffs and Hong Kong protests. The threat from coronavirus has added further strain in the market. We also set a new target for us, as we do not want to be listed once and then fall flat.”

He added, “So, the delay has been largely due to the market risks combined with the evolution of our strategy. We believe a three billion GMV and $120 million in revenue, both of which we can deliver in the calendar year 2021.”

Unperturbed by WeWork debacle
Last year, SoftBank-backed WeWork’s valuation of $47 billion was cut by 70 percent, crushing the then CEO Adam Neumann’s dream of raising $4 billion from the IPO. However, Sandeep is unperturbed by the WeWork’s failed IPO gloom.

Unlike several technology startups, Droom did not receive any large investor, adding to its valuation and funding.

“Our valuation is a function of the scale we have achieved and the fundamentals we have delivered. Valuation is always a function of growth, innovation, and the profit margin expansion.” Sandeep said adding that if a large investor comes and gives a company valuation more than it can support, it is detrimental to it, be it in the short or long term.

Droom believes that it is an under-priced asset. “We are a very large scale company, unlike most startups, be it automobile, ecommerce, or food delivery. Hence, we stand a chance to lose the least amount of capital, and have a clear roadmap to profitability,” Sandeep added.

He believes that Droom’s valuation is supportive of the scale of business of the startup. That’s not all, he also sees more headroom for a further increase in valuation.

It is also working on its final round of funding. As per Sandeep, certain market developments led to delays, but it will be closed soon. The company aims to raise $150 million in the pre-IPO round, which will make them a unicorn startup.

Mission 2020 and beyond
Droom is also focussing on used vehicle finance opportunities. Introduced in April 2017, Droom Credit today boasts of a 100 percent paperless approval of loans in just 30 seconds. With the industry being rattled by the NBFC crisis in 2018, Droom Credit completed 250 loans. The numbers, though, grew in 2019 with 12,000 loans.

The startup expects to cross the 40,000 mark by the end of 2020 with Droom Credit. In November 2019, it acquired Xeraphin, a Delhi-based NBFC firm, in an all-cash deal for an estimated $3-3.5 million.

It has also increased the number of onboarded lenders from three in 2018 to over 12 in 2019. Besides that, Droom has also increased its team size at Droom Capital from under 10 in 2018 to over 40 by December 2019.

India is the third-largest automobile market in the world, and for the last decade, its growth pattern has been the envy of many international markets. However, last year was one of the worst years for the Indian automotive market in three decades.

Passenger vehicle sales declined by over 16 percent in April-December 2019 compared to the same period last year. Further, two-wheeler sales registered de-growth of 15.80 percent in April-December 2019 from the previous year.

However, the scope of opportunity is still very high, and this is where Droom stands to gain the most.

Sandeep added, “India is 67th in the world in terms per capita vehicle availability. Only four percent of Indian households have a car and 24 percent of households have a two-wheeler. With income and education levels going up, it signifies an unprecedented demand for transportation in the near future.”

He points out that ecommerce accounted for 0.2 percent of total retail in India eight years back, and today, it has grown to become 2.5 percent. Similarly, back in 2014, the year when Droom was founded, the online marketplace for automobiles accounted for 0.1 percent and has now grown to one percent. While the used vehicle market saw players register between high single-digit and low double-digit growth, Droom grew 10 times faster the used vehicle market.

Speaking on the long-term plans for the startup, Sandeep said, “Five years from now, 35 percent of Droom will be a fintech company, while 50 percent will be our core transitional business.” He added that at least 15 percent will be advertising and subscription business.

Droom aims to sell the AI solution to vehicle insurance companies and banks in addition to buyers and sellers on its platform.

In a recent interview with TechCircle, Droom founder Sandeep Aggarwal spoke about how the company is using AI, its upcoming pre-IPO round and the Lightbox-backed company’s overall operations.

The company claims an annualised GMV (gross merchandise value) of $1.2 billion and a growth rate of 100% year-on-year. It aims to clock $2 billion in GMV by the end of 2020 and list on Nasdaq next year.

In November 2019, the company acquired an NBFC Xeraphin to make used car loans available to buyers on its platform.

The company, which aims to touch USD 120 million (about Rs 862 crore) in net revenue by 2021, is also looking at expanding its international operations to six new markets including Indonesia, Vietnam and the UAE this year.

"We have earmarked a capex (capital expenditure) of about USD 100 million this year. Of this, about USD 50 million will be towards marketing and promotion, USD 30 million for headcount and technology and roughly USD 20 million for new initiatives," Aggarwal told PTI.

He added that the company has been working on keeping its cash burn low and is hopeful of also hitting profits by the end of the year.

Aggarwal said the company has already established presence in three international markets and is looking at growing that further this year.

Droom is looking at Indonesia, Philippines and Vietnam in Southeast Asia and the UAE, Oman and Saudi Arabia in the Middle East.

"While we are aggressively expanding our international presence, we are also deepening our presence within the India market as we believe this will continue to be the mainstay of our business. Less than 10 per cent of our revenues will come from international operations," he said.

The company also plans to raise about USD 150 million before it launches an initial public offering (IPO) in 2021.

It has so far raised close to USD 125 million in six rounds of funding from investors like Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management.

Droom had clocked a gross merchandise value of USD 1.2 billion on its platform with a net revenue of USD 32 million in 2019. Its platform processed over 6.1 lakh orders last year.

The company, which aims to touch USD 120 million (about Rs 862 crore) in net revenue by 2021, is also looking at expanding its international operations to six new markets including Indonesia, Vietnam and the UAE this year.

"We have earmarked a capex (capital expenditure) of about USD 100 million this year. Of this, about USD 50 million will be towards marketing and promotion, USD 30 million for headcount and technology and roughly USD 20 million for new initiatives," Aggarwal told PTI.

He added that the company has been working on keeping its cash burn low and is hopeful of also hitting profits by the end of the year.

Aggarwal said the company has already established presence in three international markets and is looking at growing that further this year.

Droom is looking at Indonesia, Philippines and Vietnam in Southeast Asia and the UAE, Oman and Saudi Arabia in the Middle East.

"While we are aggressively expanding our international presence, we are also deepening our presence within the India market as we believe this will continue to be the mainstay of our business. Less than 10 per cent of our revenues will come from international operations," he said.

The company also plans to raise about USD 150 million before it launches an initial public offering (IPO) in 2021.

It has so far raised close to USD 125 million in six rounds of funding from investors like Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management.

Droom had clocked a gross merchandise value of USD 1.2 billion on its platform with a net revenue of USD 32 million in 2019. Its platform processed over 6.1 lakh orders last year.

The auto portal had gross merchandise value of $1.2 billion and revenue of $32 million in 2019. Its platform processed more than 6.1 lakh orders last year.

"The plan has always been to take the IPO route and we have considered four options, (Mumbai, U.S., Singapore and Hong Kong)—it will most probably be Nasdaq in U.S.,” Sandeep Aggarwal, Droom's founder and chief executive officer, told Press Trust of India. “We appointed KPMG and Grant Thornton as auditors and also roped in Credit Suisse that is likely to take us to IPO as well.”

The company will raise one more round of "pre-IPO" funding of about $150 million this year, Aggarwal said.

The U.S. Department of Justice has dropped all charges against him in an insider-trading case when was a Wall Street analyst. A civil settlement has been reached with the U.S. Securities and Exchange Commission in connection with the same matter.

Thus, there should be no issues with listing Droom in New York, he said.

Aggarwal, who founded Droom in April 2014, said the company is focussing on keeping its cash burn low and is confident of hitting profit by the end of the year.

"Our cash burn is low. Unless we make some big investments that have not already been baked into estimates, we should be profitable by November this year," he said.

He added that Droom expects to clock a gross merchandise value of about $3 billion and a net revenue of $120 million in 2021.

The company has so far raised close to $125 million over six rounds of funding from investors like Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management.

Also, the US Department of Justice (DOJ) has dropped all charges against him pertaining to the said case, Aggarwal said. Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of $32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis - which I quit long ago - continues," Aggarwal said.

Aggarwal founded Droom in April 2014. "I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision," he said.

Droom is currently generating $1.2 billion in annualised gross merchandise value (GMV) and has over 3.53 lakh auto dealers listed on its platform.

Also, the US Department of Justice (DOJ) has dropped all charges against him pertaining to the said case, Aggarwal said.

Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis - which I quit long ago - continues," Aggarwal said.

Aggarwal founded Droom in April 2014.

"I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision," he said.

Droom is currently generating USD 1.2 billion in annualised gross merchandise value (GMV) and has over 3.53 lakh auto dealers listed on its platform. SR DRRDRR

“I came back to India in August 2014, and was asked to come back for final decision in 2015, but due to delays this kept extending to 2016, then 2018 and the last was just few months back,” Aggarwal told Inc42.

Aggarwal, a former equity research analyst for a San Francisco-based financial services firm, was arrested in July 2013 by the US Federal Bureau of Investigation (FBI) in relation to insider trading San Jose.

Aggarwal added that that the DOJ has dropped all the charges which means that the case has been completely dismissed. He added that for the last six and a half years he had been waiting for conviction.

Aggarwal also said that he has settled the civil dispute with the securities and exchange commission (SEC) by paying a penalty of $32,428.95. He said that this was led to NAND, which means no acceptance, no denial. But he has been barred from being associated with any broker, dealer, investment adviser and offering of penny stock.

Aggarwal said, “Those times were tough for me, my family and my team members. However, I am very grateful that the US Justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us.”

What Was The FBI’s Case Against Sandeep Aggarwal?

In 2009, before he started up Shopclues in India, Sandeep Aggarwal was working as an analyst in Collins Stewart and was covering both Microsoft and Yahoo for a San Francisco-based research firm, he was receiving regular updates from his sources in Microsoft and passed on very specific information to Richard Lee, a portfolio manager at hedge fund SAC Capital over a phone call, after learning about a Microsoft-Yahoo deal, which was yet to be disclosed at the time.

Due to the fallout from the case, Aggarwal had to quit as Shopclues CEO by October 2013 and become a consultant for the company. He had later pleaded guilty for the same saying that he did this to improve his standing as an analyst and to increase revenue for his firm.

“I know what I did was wrong and I’m very sorry for my conduct,” he had said at the time.

In 2014, Aggarwal was banned by SEC from trading. According to the SEC order, he was barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent or nationally recognised statistical rating organisation. He was also barred from participating in any offering of a penny stock, including acting as a promoter, finder, consultant, agent or another person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock.

In September 2014, Aggarwal was back in India. He had asked a New York federal judge to allow him to visit his family in India in July earlier this year. A “revised bail package” permitted Aggarwal to get his passport and was allowed to travel to India for 6 months in exchange for a significant increase in his bail security amount $250k to $750k with further conditions.

Aggarwal said a civil settlement has been reached with the US Securities and Exchange Commission (SEC) in connection with the case.

He was charged by the DOJ and sued by the SEC following events that took place in July 2009, when he was a Wall Street analyst.

"Those times were tough for me, my family and my team members. However, I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision to permanently change how automobiles are bought and sold in the 21st century," added Aggarwal.

Aggarwal founded Droom in April 2014 and the startup claims to be the largest online automobile platform and the fourth-largest e-commerce company in India.

The company currently generates $1.2 billion in annualized gross merchandise value (GMV) and $32 million in net revenue. It aims to clock $2.1 billion in GMV and $63 million net revenue by end of 2020, Aggarwal said.

He also plans to list on the Nasdaq by mid 2021, when the company achieves $3 billion GMV.

The company has so far raised close to $125 million in over six rounds of funding. “Not only are we a pure play online marketplace platform for automobiles in India but also own critical ecosystem tools for pricing, inspection, history and credit," added Aggarwal.

Also, the US Department of Justice (DOJ) has dropped all charges against him pertaining to the said case, Aggarwal said. Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of $32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis - which I quit long ago - continues," Aggarwal said.

Aggarwal founded Droom in April 2014. "I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision," he said.

Droom is currently generating $1.2 billion in annualised gross merchandise value (GMV) and has over 3.53 lakh auto dealers listed on its platform.

Also, the US Department of Justice (DOJ) has dropped all charges against him pertaining to the said case, Aggarwal said.

Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis - which I quit long ago - continues," Aggarwal said.

Aggarwal founded Droom in April 2014.

"I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision," he said.

Droom is currently generating USD 1.2 billion in annualised gross merchandise value (GMV) and has over 3.53 lakh auto dealers listed on its platform.

Automobile marketplace Droom on Wednesday said the company is confident of hitting profit by the end of this year, and said it plans to raise about USD 150 million before it launches an initial public offering (IPO) in 2021.

Droom clocked a gross merchandise value of USD 1.2 billion on its platform with a net revenue of USD 32 million in 2019. Its platform processed over 6.1 lakh orders last year.

“The plan has always been to take the IPO route and we have considered four options (Mumbai, US, Singapore and Hong Kong) and it will most probably be NASDAQ in the US. We appointed KPMG and Grant Thornton as auditors and also roped in Credit Suisse that is likely to take us to IPO as well,” Droom founder and CEO Sandeep Aggarwal told PTI.

He added that the company will raise one more round of “pre-IPO” funding of about USD 150 million this year.

Aggarwal said given that the US Department of Justice (DoJ) has dropped all charges against him pertaining to a previous insider trading case, there should be no issues with listing Droom in the US.

The CEO said a civil settlement has been reached with the US Securities and Exchange Commission (SEC), while the US DoJ has dropped all charges against him pertaining to the case. He had been charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

“Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis — which I quit long ago — continues,” Aggarwal said.

Aggarwal, who founded Droom in April 2014, said the company is focussing on keeping its cash burn low and is confident of hitting profit by the end of the year.

“Our cash burn is low. Unless we make some big investments that have not already been baked into estimates, we should be profitable by November this year,” he said.

He added that Droom expects to clock a gross merchandise value of about USD 3 billion and a net revenue of USD 120 million in 2021.

The company has so far raised close to USD 125 million over six rounds of funding from investors like Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management.

“Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of $32,500 was levied by the SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis — which I quit long ago — continues,” Mr. Aggarwal said.

He was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Mr. Aggarwal was a Wall Street analyst.

Mr. Aggarwal added he was confident of Droom turning profitable by November this year and was aiming to list the company on Nasdaq by mid-2021, when the company achieves $3 billion GMV. While the company had set its eyes on a Nasdaq listing, Mr. Aggarwal said they could also look at Singapore stock exchange or the Hong Kong stock exchange for listing.

Additionally, the company is looking at raising about $150 million in a pre-IPO round.

“...I am very grateful that the U.S. justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision to permanently change how automobiles are bought and sold in the 21st century,” Mr. Aggarwal said.

Founded in April 2014, the company claims to be the largest online automobile platform and the fourth-largest e-commerce company in India.

lso, the US Department of Justice (DOJ) has dropped all charges against him pertaining to the said case, Aggarwal said.

Aggarwal was charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis - which I quit long ago - continues," Aggarwal said.

Aggarwal founded Droom in April 2014.

"I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result.

Now, we can put this permanently behind us and focus on implementing our long-term vision," he said.

Droom is currently generating USD 1.2 billion in annualised gross merchandise value (GMV) and has over 3.53 lakh auto dealers listed on its platform.

The SEC had sued the entrepreneur in July 2013 because of events that took place in July 2009 when he was a Wall Street Analyst.

Sandeep was working as an analyst at Collins Stewart when he was allegedly said to be passing non-public information regarding a possible deal between Microsoft and Yahoo.

Speaking about the Department of Justice’s dismissal of charges, Sandeep said, “I am very grateful that the US Justice system agreed that the dismissal of all charges against me was a right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision to change how automobiles are bought and sold in the 21st century.”

Sandeep began his entrepreneurial journey in 2011 when he founded Shopclues. Founded in 2014, Gurugram-based automobile marketplace Droom is preparing for an IPO (Initial Public Offering) on Nasdaq, and is expected to go public in 2021.

At present, it is working towards securing its pre-IPO funding, which is expected to be in tune of $150 million. Droom claims to have an 85 percent market share in the used automobile business in India.

With its latest round of pre-IPO funding, the startup is all set to achieve the revered unicorn status. It also aims to turn profitable by November 2020 (on a monthly basis).

It is now aiming to expand its presence to Indonesia, Vietnam, and Philippines along with three nations in the Middle East in the next 15 months.

Droom clocked a gross merchandise value of USD 1.2 billion on its platform with a net revenue of USD 32 million in 2019. Its platform processed over 6.1 lakh orders last year.

"The plan has always been to take the IPO route and we have considered four options (Mumbai, US, Singapore and Hong Kong) and it will most probably be NASDAQ in the US. We appointed KPMG and Grant Thornton as auditors and also roped in Credit Suisse that is likely to take us to IPO as well," Droom founder and CEO Sandeep Aggarwal told .

He added that the company will raise one more round of "pre-IPO" funding of about USD 150 million this year.

Aggarwal said given that the US Department of Justice (DoJ) has dropped all charges against him pertaining to a previous insider trading case, there should be no issues with listing Droom in the US.

The CEO said a civil settlement has been reached with the US Securities and Exchange Commission (SEC), while the US DoJ has dropped all charges against him pertaining to the case. He had been charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis -- which I quit long ago -- continues," Aggarwal said.

Aggarwal, who founded Droom in April 2014, said the company is focussing on keeping its cash burn low and is confident of hitting profit by the end of the year.

"Our cash burn is low. Unless we make some big investments that have not already been baked into estimates, we should be profitable by November this year," he said. He added that Droom expects to clock a gross merchandise value of about USD 3 billion and a net revenue of USD 120 million in 2021.

Aggarwal was charged by the Department of Justice (DOJ) and sued by the US Securities and Exchange Commision (SEC) in July 2013 against a set of events that took place in July 2009, when Aggarwal was an capital markets analyst at Wall Street.

“Those times were tough for me, my family and my team members. However, I am very grateful that the US justice system agreed that the dismissal of all charges against me was the right and just result. Now, we can put this permanently behind us and focus on implementing our long-term vision to permanently change how automobiles are bought and sold in the 21st century,” Aggarwal said.

Founded in 2014, Droom offers four marketplace formats i.e. B2C, C2C, C2B, and B2B, and three pricing formats - fixed price, best offer and auction. The platform offers a wide range of categories from bicycles to aeroplanes and all automobile services such as warranty, insurance and loans.

The company claims to generate $1.2 billion in annualised GMV (gross merchandise value) and a growth rate of 100% year-on-year. The company has so far raised close to $125 million over six rounds of funding. Some of the prominent investors in the company are Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management.

The company last raised funds in October 2018 when it closed a Series E round worth $30 million led by the family office of Japanese investor Joe Hirao.

“As an investor in Droom and a friend of Sandeep’s I am relieved this chapter in his life is over. We look forward to continuing to work with Sandeep in building Droom to its full potential,” Siddharth Talwar, Droom board member and partner at Lightbox said.

In November 2019, Droom acquired a non-banking financial company (NBFC) Xeraphin to strengthen its lending arm.

एसईसी ने 32,500 डॉलर का जुर्माना लगाया था, जिसे अग्रवाल ने चुका दिया। एसईसी ने उन्हें प्रतिभूति बाजार के विश्लेषक या स्वतंत्र सलाहकार के तौर पर काम करने से रोक दिया था, जो अब शुरू हो जाएगा। साल 2015 में संदीप अग्रवाल को शॉपक्लूज का सीईओ पद तब छोड़ना पड़ा था जब उन पर अमेरिका में भेदिया कारोबार के आरोप लगे थे। उन पर न्याय विभाग ने आरोप लगाए और जुलाई 2013 में एसईसी ने मुकदमा ठोक दिया, जो जुलाई 2009 के घटनाक्रम से जुड़ा है। उन्होंने साल 2014 में ड्रूम का गठन किया।

शॉपक्लूज के सह-संस्थापक बनने से पहले वह अपनी पत्नी राधिका अग्रवाल के साथ साल 2011 में वॉल स्ट्रीट के विश्लेषक थे। उन्होंंने कहा, जब मैं शॉपक्लूज का परिचालन कर रहा था तब यह कानूनी मामला सामने आया। चूंकि मुझे अमेरिका में रहना पड़ा क्योंकि मैंने सरकार की अन्य जांच में सहयोग करना स्वीकार किया था, ऐसे में मुझे पद छोडऩा पड़ा। अब उनका ध्यान ड्रूम पर है और अगले दो साल में वह इसका आरंभिक सार्वजनिक निर्गम लाने में जुटे हैं। अग्रवाल के मुताबिक, ड्रूम का जीएमवी कैलेंडर वर्ष 2019 में 1.2 अरब डॉलर रहा, जो एक साल पहले के मुकाबले 65 फीसदी ज्यादा है। पिछले साल ड्रूम का राजस्व 3.2 करोड़ डॉलर रहा और इस साल 6.3 करोड़ शुद्ध राजस्व व 2.1 अरब डॉलर जीएमवी की उम्मीद है।

Droom clocked a gross merchandise value of USD 1.2 billion on its platform with a net revenue of $32 million in 2019. Its platform processed over 6.1 lakh orders last year.

"The plan has always been to take the IPO route and we have considered four options (Mumbai, US, Singapore and Hong Kong) and it will most probably be NASDAQ in the US. We appointed KPMG and Grant Thornton as auditors and also roped in Credit Suisse that is likely to take us to IPO as well," Droom founder and CEO Sandeep Aggarwal told PTI.

He added that the company will raise one more round of "pre-IPO" funding of about $150 million this year.

Aggarwal said given that the US Department of Justice (DoJ) has dropped all charges against him pertaining to a previous insider trading case, there should be no issues with listing Droom in the US.

The CEO said a civil settlement has been reached with the US Securities and Exchange Commission (SEC), while the US DoJ has dropped all charges against him pertaining to the case. He had been charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst.

"Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis -- which I quit long ago -- continues," Aggarwal said.

Aggarwal, who founded Droom in April 2014, said the company is focussing on keeping its cash burn low and is confident of hitting profit by the end of the year.

Aggarwal said a civil settlement has been reached with the US Securities and Exchange Commission (SEC) in connection with the case.

In an interview with Business Insider, Sandeep Aggarwal said that the company has clocked $1.2 billion in gross merchandise value (GMV) and $32 million in net revenue in 2019 calendar year.

“We feel this momentum will continue as the auto industry fares better. We hope to achieve $2 billion in GMV this year and $65 million in net revenue. By next year’s end, we hope to hit $3 billion in GMV,” he said.

But how is the company achieving these numbers even as Indian economy is in recovery mode? “Because online is only 1% of the total automobile industry. Other companies had a heavy exposure to ‘new’ and ‘cars’. We sell bicycles, scooters, buses, jeeps, tractors… everything and we sell 98% used,” said Aggarwal.

Speaking of competition like CarDekho, Cars24, he said that Droom is the only pure play internet company while others offer offline services as well.

A NASDAQ IPO
By 2021, when the company achieves its $3 billion GMV target, Aggarwal aims to list on NASDAQ. And, it has been a very calculated step from the very beginning. “We have taken a lot of measures. We are a Singapore incorporated company, we had a Big 4 auditor from the first day, the corporate governance and board structure has been done keeping IPO in mind,” he said.

Before they head for IPO, Droom which has been circling around the unicorn status has plans to cross the valuation mark. “This year, we will be raising our last round of capital which will be the pre-IPO round, with that we have a valuation of over $1 billion,” he said.

Massive expansion spree
As it switches on to the pre-IPO mode, Droom is also planning geographical expansion. It is already present in Singapore, Malaysia and Thailand along with an R&D centre in the US called Droom Lab Inc.

“In the next 18 months, we will expand to Indonesia, Vietnam and Philippines and then six countries in the Middle East. After that, we will plan our European expansion,” he said.

They will also be extending their offerings – by foraying into luxury cars, agricultural equipment and OEMs etc.

Lessons from the past
Aggarwal is not new to building billion dollar companies. He was also the founder of the e-commerce unicorn – Shopclues, a company from which he parted ways after a public spat with his co-founder and wife Radhika Aggarwal. Shopclues was recently sold to Singaporean e-commerce entity Qoo10.

“Since the end of 2015, I have not spent a single day in that company. It was a prime asset but it needed a lot of innovation, vision, world class management team and a differentiation factor in e-commerce,” he said.

Even before Shopclues, Aggarwal had 150 company ideas that he worked upon, till he finally built not just one unicorn but two successful startups. Ask him about the tricks of the trade and he recollects a time, when he was in college and got 40 rejections from companies only to get 7 job offers.

“First, you need to have a desire to build something. Having worked with Fortune 500 companies in the US, I saw a lot of scale and then maybe, I just got lucky,” he says with a laugh.

Sandeep Aggarwal said, "India’s startup ecosystem has come a long way in the last one decade, standing as the world’s third most robust ecosystem, after the US and China. We also rank third on the list of most number of unicorns, close to 25 at present as compared to only 2 in 2010. As India envisions to become a USD 5 trillion economy, the startup ecosystem can play a highly instrumental role in helping India reach thereby creating innovations, employment generation, and thus economic growth."

He adds, "To truly facilitate this, we expect the government’s proactive involvement during this budget. For instance, we expect them to provide startups with no capital-gain tax and no dividend, like how it is in Singapore, thus enabling companies funded by VCs to invest more in their R&D or founders to have great incentive. Secondly, we hope the government allows Indian companies to be listed directly in Foreign Stock Exchange without having to necessarily get listed in the country. Third, if we can have a single window for all the registrations like company incorporation, shop establishment, GST registration etc. along with the company registration, that will help save time, efforts, and money considerably. Fourth, while the government has made significant efforts in terms of winding down a company, we hope a shorter turnaround for this as well."

"Apart from these, repatriation of the money from our country to foreign investors should become easier."

"Further, it will be highly beneficial if the government can bring the 15 public sector banks and 5 financial institutions onboard the early-stage investment drive by facilitating a VC arm and allocating perhaps 200-500 million each to fund seed, pre-series A, or up to series A rounds for startups. The economic multiplier will be very large in terms of the returns it can generate, the employment opportunities that it can create, and the economic progress that it can deliver," concludes Aggarwal.

Combined with a focus on tier 2 and 3 cities for the next phase of growth, this omnichannel presence has become something that everyone wants a piece of. It’s a change from the time when startups talked about reaching customers using technology.

Having forged an identity as an automobile marketplace, Droom is keeping itself away from the omnichannel hype. Aggarwal is betting that creating an automobile ecosystem with low capital expenditure and fewer owned assets will be more sustainable in the long run, than scaling up in the offline channel and then cutting costs later on.

The Competition Moves Offline; Droom Stays Online

The Droom founder and CEO told Inc42 that the focus is on staying online and will always be on bringing the pieces of the offline ecosystem online.

Droom lets consumers and businesses buy and sell used and new automobiles. It follows four business models to achieve maximum penetration on both seller and buyer side i.e. B2B, B2C, C2C, C2B.

Its ecosystem around used automobiles involves services such as Orange Book Value (used vehicle pricing engine), Eco (vehicle inspection), History (track record of used vehicles), Discovery (dozens of pre-buying and selling tools) and Credit (used auto loan and dealer financing). This is Droom’s attempt to bring value across the used automobile buying journey and it has no offline stores, Aggarwal said.

On the other hand, competitors such as CarDekho, Cars24 and others continue to bet on building an offline presence and leverage omnichannel growth. In H1 FY20, GirnarSoft-owned CarDekho launched 28 new ‘Gaadi’ stores, bringing the total number of stores to 56 in 17 cities.

Further, Cars24 has more than 50 branches across 12 major cities in India and is backed by a team of more than 700 employees. However, last year the company faced issues and had to shut down multiple stores in Delhi-NCR.

With over 430 employees, Aggarwal told us that over half of this workforce is on the product and technology side. Over the last few years, Droom has been eyeing an initial public offering. While the IPO was first meant to be launched in 2019, and then 2020, the company is now looking at 2021 as a realistic target, given the company’s losses.

Droom reported a loss of INR 128.54 Cr in FY19, up from INR 73.97 Cr in FY18. The company’s expenses in FY19 were INR 274. 4 Cr with an operational revenue of INR 136.43 Cr.

But Aggarwal is optimistic. He said the gross merchandise volume (GMV) of $1.2 Bn for 2019 with net revenue of $35 Mn bodes well from a projection point of view. “Our operating loss as a percentage of GMV has gone from 9% in 2015 to 1.65% of GMV in 2019. We will further reduce it in 2020 and hope to be profitable by the end of 2020,” he added.

Ambitious Targets And IPO Dreams

For Droom, GMV is the value of each transaction that takes place on the platform. In terms of category wise share of revenue, the company says that B2C is roughly 85% and C2C is roughly 5% and B2B will be roughly 10% of the income. Further, the company sees 96% of its revenue coming from used vehicles while 4% from the new vehicles business. “Our transactional business is roughly 70% and financial services is 15% and advertising, pricing and certification is another 15%,” Aggarwal added.

The company claims that it has over $16 Bn of listed GMV and claims to have over 28 Mn in monthly traffic. Aggarwal said the company monetisation is 2.75% of the GMV for 2019, which it plans to scale to 3.25% by 2020-end and 3.75% by the end of 2021.

The trouble here is that Droom has always had ambitious targets. Aggarwal told us earlier that Droom was projecting $2 Bn in GMV and $55 Mn in net revenue next year, and $3.5bn in GMV and $120 Mn in net revenue by December 2020, which it said is the level that it would like to be at before going for the IPO.

However, the plans have changed. This may be attributed to the worst auto slowdown in years, which hugely impacted the industry in 2019.

Aggarwal told us If the market was not bad, instead of $1.2 Bn in GMV, Droom would have done $1.6 Bn in GMV. He claimed the company suffered a $400 Mn in lost volume and decided to not chase revenue from the new vehicles category.

But beyond this, Aggarwal has roped in KPMG as an external auditor for the last five years and Grant Thornton as an internal auditor for the past year, in preparation for the IPO.

The long engagement with the auditors, Aggarwal said, is an essential step in the light of the recent plight of WeWork which has brought profitability of startups under the scanner.

WeWork had filed its draft papers for IPO in August 2019, but the prospectus made investors wary of the corporate governance and real estate management. After a lot of back and forth, the company’s founder and CEO Adam Neumann had to exit as SoftBank bailed out the company after value erosion.

The ripple effect of WeWork disaster is playing out now in the wave of layoffs on in SoftBank portfolio companies, which is being seen as a market correction.

What about Droom? It has raised over $125 Mn in funding and with the next round of funding, it’s on track to enter the unicorn club. Aggarwal said that Droom is looking to raise $150 Mn as its pre-IPO round, which would certainly take it to the unicorn club. Aggarwal said he feels the company is already near the unicorn club, but those losses must sting. How will the company cope with that and achieve growth quickly to get profitability and justify an IPO?

Whenever Droom does raise funding, Aggarwal indicated that the goal will not be to flood the market and buy growth. He said the culture at Droom is not to throw money at a problem but rather solve it fundamentally. “We don’t do capital expenditure, inventory risk or feet on the street, which has really helped us. ”

Aggarwal reiterated that the cost of going offline is high and real estate costs can be back-breaking. From tapping enterprise clients to dealership networks to broadening its fintech play and entering the luxury segment, Droom says it has big plans. But none of it involves entering the retail market.

As someone who grew a business to unicorn status with Shopclues, Aggarwal is keen to not repeat the things that went wrong with Shopclues, which was acquired last year by Qoo10. That means retaining board control, prioritising a low-cost approach and being measured in trying to achieve growth.

And of course, there’s the focus on solving problems with tech. “We try to solve every problem through technology. We have a bias. We think all of the world’s problems can be solved with technology.”

The second edition of Droom pre-owned automotive awards and conference was held at ITC Maurya on December 20, 2019. The event registered a notable footfall of over 500 delegates coming together. Over 50 OEM participants contended for 50 award categories.

CEO & Founder at Droom, Sandeep Aggarwal commenced the event with a welcome speech. This time, discerning knowledge-sharing sessions were held on theSandeep Aggarwal broader themes of tech innovations, ecosystem services, megatrends, and macro-economic factors creating shifts in the automobile industry. The panelists and speakers included names like Roopam Asthana—CEO and Director, Liberty General Insurance, Jeetender Sharma—Founder and MD, Okinawa Scooters, Sohinder Gill, Director-General of SMEV India, Hideaki Ishii—Managing Director, Pioneer India, Ramashankar Pandey—MD, Hella India Lighting, and industry expert Ranojoy Mukerji, among others.

The speakers spoke at length about how infrastructural shortcomings need to be addressed for the true proliferation of EVs in India, the need to lay more emphasis on customers, and how expanding to different avenues (more exports, for instance) and catering to the customer sentiment can help in industry revival.

Finally, on the future outlook, it was projected that safety, security, and convenience will be the primary drivers and resultantly, connectivity, leasing and subscriptions, autonomy, shared rides, and EVs will shape the industry’s future in India.

Droom Awards 2With four major categories – Pre-owned Vehicles, New Vehicles, Best of Droom, and Special Awards – further divided into sub-categories making it a total of whopping 50 different awards. Among pre-owned vehicles, Bajaj CT100 stood apart as the Commuter Bike of the year, while Jeep Compass won the SUV of the year. Among new vehicles, Okinawa Praise Pro put on a dazzling display, winning the Electric 2 Wheeler of the year, whereas Kia Seltos won the Connected Car of the year.

Overall, Honda Motorcycle & Scooter India Pvt Ltd bagged the most prizes across categories and was named the ‘OEM of the Year’ for two-wheelers while Hyundai Motor India Limited won the coveted title as the ‘OEM of the Year’ for four-wheelers. Taking the fervor several notches up, famous Indian-Punjabi singers Jassie Gill and Babbal Rai delivered breathtaking and adrenaline-boosting live performances. Dangal-famed actor Aparshakti Khurana and actress Gauhar Khan also ensured that the audiences remained captivated throughout by being the entertaining hosts of this fun-filled evening!

Droom Pre-Owned Automotive Awards 2019 was held with an aim to celebrate the automotive industry, and it succeeded in bringing together all the stakeholders of the ecosystem for a fun-filled day of knowledge-sharing, award distribution, networking opportunities, scintillating performances, a surprise launch, and so much more!

How has financial year 2019 been for Droom, and how do you see the current year panning out?

The financial year of 2019 has been fantastic for Droom! We have entered our fifth year of operations and have actually witnessed an acceleration in our growth. While we are fully aware of the macro slowdown in new vehicle sales, our category domination and how well we are doing versus the rest of the industry has resulted in this massive growth that we see today. We will continue to function in the investment and expansion mode for this financial year too. For instance, we have begun investing more into building technologies, creating new products, venturing into new categories, and expanding into new geographies.

Have you seen any slowdown in used vehicle sales in recent months?

No, we have not witnessed any slowdown in the sale of used vehicles. Our used vehicle sales continue to grow at a year-over-year rate of around 85-100 per cent, and this would perhaps be 8 times larger than the overall industry growth. When it comes to the overall growth of Droom, we may not see a magnified impact because we are already going much faster than everyone else.

You have raised significant funding in recent months. Where is this capital going into?

Yes, we have raised a significant amount of capital in the past few months. We diligently expend most of this into continually updating our technologies, building new products, opening new channels, and expanding our footprint on an international scale. These are the four departments where we channelize most of our funds into. If I have to pick the department where the highest percentage of funds go, I would say product development, engineering, and leveraging AI at present.

A lot of players in the segment have gone offline in recent times. Why so?

Honestly, to begin with, the segment that Droom belongs to has not really seen online players per se. To be more precise, those were more like media firms trying to compete with Saturday newspapers or magazines etc. for rich content, rather than being an online player in this segment.

But, if you look at Droom, it is truly an online player. We do not claim to be the only online player in the segment because it is the only channel we have, but because everything we have, including our technology portfolio, investments, pricing engine, certification courses, fintech product, and a lot of other services are inherently online.

Other companies could not establish themselves as market leaders and because of the rise of Droom, many of them are finding it very difficult and are thus going offline. The offline channel is cost-prohibitive, has inventory risks, and does not leave a lot of scope for true application of technology. Moreover, offline channels leverage capital, physical assets, capital expenditure, and inventory — this is something that we will never partake in.

The comprehensive online platform has now made its services available in four countries and plans to further extend its offerings in other nations, as part of its international expansion spree.

Thailand is the second largest automobile market in Southeast Asia and is among the top 15 automobile markets across the globe. With its rapidly evolving lifestyle, a major share of working middle class, changing consumer needs and aspirations, competitiveness and online & mobile adoption, Thailand is an ideal market for the segment of used vehicles to thrive in.

"Through its subdivision Droom International, the organisation aims to venture into and make its AI-driven ecosystem services such as OBV for used vehicle pricing, Droom Discovery for vehicle research, ECO for vehicle inspection, Droom Credit for auto financing, and Droom History for vehicle historical records available in this exciting and high potential-entailing automotive market of Thailand," said the company in a statement.

Sharing an insight into this strategic move, Sandeep Aggarwal, founder and CEO, Droom, said, “Our operations in Thailand are important not only because it is one of the largest and fastest-emerging markets but also because it has unlocked several new possibilities for Droom, like helping the organisation develop its abilities to launch the platform in several languages other than English. We are excited about this foray and are looking forward to establishing Droom as the online automobile marketplace leader in Thailand.”

Droom launched its platform in Malaysia in October 2018, Singapore in December 2018, and in India on November 21, 2014. The company has recently crossed a total of 48 million monthly traffic, with close to 12% of this traffic coming from international markets such as Malaysia and Singapore alone.

The company stated that the launch was part of a larger expansion strategy of entering into seven Southeast Asian markets. The Thailand launch marked its third entry.

Droom had earlier established its presence in Malaysia and Singapore in October and December last year, respectively.

Droom attributed a rapidly evolving lifestyle, a large working middle class, changing consumer needs and aspirations, competitiveness, and online and mobile adoption as the reasons behind its entry into Thailand.

“We are beyond ecstatic about beginning our operations in Thailand not only because it is one of the largest and fastest-emerging markets but also because it has unlocked several new possibilities for Droom, like helping the organisation develop its abilities to launch the platform in several languages other than English,” Sandeep Aggarwal, founder and chief executive of Droom stated.

In an interaction with TechCircle last year, Aggarwal said that the company also planned to expand to Indonesia, Vietnam, Cambodia, Myanmar, Laos and the Philippines.

The company, which commenced its operations in India in 2014, stated that it has recently crossed 48 million in monthly traffic, with close to 12% of this coming from international markets such as Malaysia and Singapore alone.

Droom’s international foray comes close on the heels of a $30-million (Rs 220 crore then) Series E round it raised in October last year.

In India, Droom aims to expand its operations to 100 cities across the country. The company had recently claimed it has 75% share of the online automobile market in India, generating close to $750 million in gross revenue and $20 million in net revenue.

It claims to have a presence in more than 735 cities and towns across India and to have more than 275,000 auto dealers on its network.

The Gurugram-based company also aims to double its gross merchandise value to $3.5 billion by 2019. The company plans to list on the stock exchanges by 2020.

Founded in 2014, Droom adopts a customer-to-customer approach but offers services that are close to taking full ownership. It conducts extensive verification to help buyers work with offline dealers as part of efforts to ensure standardisation, apart from providing services such as a fair value calculator, roadside assistance and auto loans.

Droom’s main source of revenue is the service fee it charges for every successful transaction. Besides, it has other revenue streams such as creating an ecosystem around used automobiles, including OBV (its pricing engine), Eco (its vehicle inspection offering), history (vehicle history records), discovery (pre-buying tools) and credit (marketplace for used vehicles’ loans).

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.

What is the greatest asset of an enterprise? Is it a great business idea, a team of experienced and veteran leaders or great infrastructure and resources?

While every aspect has a significant role to play, it is the employees of an organisation that bring all these elements together and turn ideas into reality. This, then makes employees arguably the most significant organisational resource, which demand focused attention and engagement.

In India, online automobile marketplace Droom has been giving great focus to employee engagement and care, organising fun activities. The company claims careful planning has gone in identifying the right kind of activities that result in holistic care of employees.

Recently, Droom tied up with one of the leading spa and massage service providers in Gurugram, which will frequently organise Zumba training sessions, rejuvenating massages, chair yoga sessions and meditation days at its office.

While Zumba, chair yoga and meditation sessions are to be held once in a week, the massage sessions will be available to Droom employees once in a month.

According to Founder and CEO Sandeep Aggarwal, it is the organisational constituents that determine its success. “Employee engagement and attention is an avenue that needs considerable attention and at Droom, we ensure every one of us feels constantly connected to the team, colleagues and the organisation and the bond grows stronger throughout the hierarchies.”

Droom was founded by Aggarwal, who is also Co-founder and former CEO of ShopClues, an e-commerce unicorn in India. Droom is an online marketplace for buying and selling new and used automobiles.

Droom is headquartered in Gurugram, with a team size of over 365. It has four marketplace formats — B2C, C2C, C2B and B2B. The platform offers a range of categories from bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan.

Droom boasts of having nearly 250,000 auto dealers in more than 500 cities across India on its platform and 27.3 million monthly visitors.

Droom is a Singapore holding company with subsidiaries in India and the United States. The company has so far raised close to US$125 million over six rounds of funding.

Some of the prominent investors are Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, Integrated Assets Management and family office of Japanese investor Joe Hirao, Founder ZIGExN.

Last May, Droom secured US$30 million in Series D funding, led by Toyota Tsusho Corporation, a member of automobile giant Toyota Group, and co-led by Japanese tech company Digital Garage.

Droom is hiring women technicians with a basic qualification of having completed their 10th standard and auto mechanic diploma from vocational colleges such as ITI, Polytechnic etc. The prospective candidates would also need to know how to ride a bike and be comfortable with using a smartphone. The company will give them further training as per the latest industry requirements on successful completion of the hiring process. An auto ninja technician can earn up to Rs.30K in a month which is 3X of a typical auto mechanic make in a month. This year in addition to having 6500+ auto technicians as a marketplace droom is bringing 400+ eco ninjas on its payroll with its own training uniform.

Commenting on the plans for the ECO Ninjas fleet, Sandeep Aggarwal, Founder and CEO, Droom said, “At Droom, we always believe in a workplace that offers equal opportunity for all. We have had a great journey so far, and our organisation has grown along with the employees. We are strong advocates of a gender neutral workforce, and have especially seen consistent growth in the number of women employees through our journey. Now, in our fourth year of operations, we wanted to put forward a very non-conventional option for women employees. This is where we thought up the idea to train and hire highly-driven women technicians for our ECO Ninjas fleet. This career choice will provide these employees with an array of new skills and opportunities in a domain conventionally dominated by male professionals. With the introduction of this fleet, we see a number of women joining the Droom family, and we are confident that this new path will, in turn, empower others to do the same.”

In the first year of being operational, Droom had around 10% of women work force, in second year this percentage went up to 20% and in third year it was around 30% of total strength of Droom. There is currently an open head-count for 100 vacancies in the management; wherein 60% of the total hires would be women employees.

Droom is India’s leading platform for buying and selling both new and pre-owned vehicles, and has seen steady growth in the industry. Through the ECO Ninjas fleet, the company aims to set up a combined capacity of 1000+ vehicle inspections per day. The fleet is owned and operated by Droom, and these ‘Ninjas’ will provide doorstep vehicle inspection services to its customers, making their experience hassle-free.

During a span of just four years, Droom has witnessed an exponential growth while establishing a strong foothold in India. Currently, Droom has its eyes set on launching full operations in 7 new countries of South Asia this year. Droom launched its Malaysia operations in October 2018 and Singapore operations in December 2018. In Singapore, Droom is almost touching 600K in monthly traffic and 50K+ Facebook community.

Commenting on the achievement, Sandeep Aggarwal, Founder and CEO, Droom remarked, “Crossing this milestone is a clear indication of global appeal of Droom brand, and the hard work put in by the entire Droom team. Since the beginning of our journey, we have received overwhelming response from buyers and sellers across India, where we expanded from having operations only in New Delhi to now being present in 735+ cities across India. We are now thrilled for hyper growth from our international expansion.”

With an aggressive business strategy and continued efforts to expand in international markets, Droom aims to create an innovative and disruptive marketplace approach for its users to help build trust, transparency and convenience of doing business in Southeast Asian countries.

ECO, Droom’s propriety vehicle inspection service, has paved its way to become one of India’s largest doorstep inspection services. With 1400+ certified inspectors on its platform, this initiative by Droom has an incredible geographic reach of over 500+ pin codes across the country.

The online automobile marketplace has allocated INR 25 crores of funds specifically to achieve its growth objectives pertaining to ECO inspection. Through these measures and dedicated efforts, Droom strives to establish the services provided by ECO as the industry standard benchmark for inspection and certification services.

Acknowledging the rapid success of the application,Sandeep Aggarwal, Founder and CEO, Droom remarked, “We see ECO as a key facilitator of establishing trust and transparency among our customers regarding the buying and selling condition of vehicles on our core marketplace and are looking to invest in the emerging technological advancements in this segment of Droom.”

With an aim to further strengthen its grip on quality control, SLA (Service Level Agreement) adherence and delivering world-class customer experience through its doorstep vehicle inspection services, Droom has setup an in-house team of ECO inspectors on owned and operated model.

ECO also developed a customized Enterprise solution for Banks for loans, Insurance companies for break-in Insurance renewals and large cab aggregators such as Uber and Ola.

Droom is also planning to venture into independent inspection services through ECO wherein people can purchase and avail the services and get their vehicles certified without listing them on Droom.

The hiring will be done across senior levels of management as well as middle level positions. Droom plans to aggressively expand its teams across multiple domains such as AI, Product, ECO and Droom Credit. Company has also planned to hire its owned and operated fleet of ECO Technicians named ECO Ninjas. These ECO ninjas will be providing vehicle inspection services at door step, with the help of this fleet droom is aiming to setting up a combined capacity of 1000+ inspections per day.

Commenting on the hiring spree, Sandeep Aggarwal, Founder and CEO, Droom said, “Droom is scripting a successful and unique growth story of its own and it always gives us great pleasure to onboard more individuals-Droomers-and make them a part of this story. We will be expanding our Product and Technology teams to build more revolutionary technologies to address every big and small issue playing as a hurdle in a transparent online automobile transaction.”

Droom will be proactively seeking talented candidates from some of the Top B Schools and Engineering colleges in the country, such as IIM Bangalore, IIM Calcutta, ISB Hyderabad, IIT Delhi, IIT Dhanbad, IIT Roorkee, MICA, IIM Shillong, NSIT and MNIT among with many other elite institutions. The key traits that the enterprise looks for among prospective employees are a hunger for success, accountability and ownership of responsibilities, energy, ambition, dedication, motivation and self-drive, focus, optimization ability, data and tech-driven perspective as well as a very high standard of work ethics.

The matches are scheduled on 6th, 8th and 10th February with the live telecast starting from 12.30 PM, 11.30 AM and 12. 30PM respectively (IST). Droom’s campaigns will be live on the following channels-

• Star sports 1
• Star sports 1 HD
• Star Sports 1 Hindi
• Star sports 1 Hindi HD
• Start Sports Tamil
• Star Sports Telegu
• Star Sports Kannada

Commenting on the development, Sandeep Aggarwal, Founder and CEO, Droom said, “We are very excited to be a part of the IND-NZ series. Cricket is a kind of religion in India that unites rather than divides. The way in which the Men in Blue have been performing has got the entire nation excited ahead of this year’s World Cup, and every match is being followed closely by millions. This gives us an opportunity to build a brand connect with our target audiences, specifically youngsters. With increased brand awareness and association with Indian cricket, we hope to reach out to audiences at a grand scale that only some of the bigger & established brands have. “

Droom, which has become the top online marketplace for pre-owned automobile transactions and evaluation, has consistently focused on carrying out significant brand-building activities. However, the current association will give them an unprecedented amount of visibility with millions of consumers, making them aware about the new way of buying and selling automobiles online while enjoying what promises to be an intense series of cricket.

Droom, India’s largest and pioneering online automobile transactional marketplace, recently released its annual automobile industry trends report for the CY 2018. The platform, which generated a massive USD 1 billion GMV during the year, also drove close to 400 million in traffic. Droom’s annual industry trend reports in the only source in India that is based on close to 1 million actual transactions worth $1bn highlighting the trends for the Internet population in India for the automobile industry.

Top 5 largest market remains: Delhi, Bangalore, Hyderabad, Ahmedabad and Pune. For 2018, the top 5 emerging cities were: Faridabad, Ghaziabad, Chennai, Nalgonda and Kotpuli.

Maruti Suzuki Swift emerged as the most preferred car, while Hero Splendor Plus became the most favoured bike. Harley Davidson Street 750 and BMW 5 series were the most popular luxury bike and car respectively. Cars made up 42% of Droom sales last year, with scooters contributing 28%, bikes 22% and luxury cars and superbikes making up 7- 8%.

The average selling price for bikes was INR 54, 192 and for cars was INR 6,53,951. Hatchbacks remained the model of preference for buyers, and 5-6 year old vehicles were sought extensively by buyers. For two-wheeler buyers however, 2015-2017 was the preferred bracket of manufacturing year.

This year, buyers registered a stronger preference for diesel fuel cars 59% vs 39% for petrol cars considering the price disparities experienced throughout the year for petrol. In a further boost to the ‘Make In India’ initiative, 34% customers preferred vehicles from Indian manufacturers followed by 21% Japanese and 17% South Korean vehicle manufacturers in CY 2018, showing a steady divergence from the obsession with foreign cars. Manual Transmission cars witnessed a huge edge over auto transmission as 75% customers opted for manual over 25% for automatic.

Commenting on the trends, Sandeep Aggarwal, Founder and CEO, Droom said, “CY 2018 was a successful year for Droom and the hard work put in by every Droomer was reflected in the solid business growth we managed to achieve. The trends show an overall healthy growth for automobile market, with more buyers and sellers opting to go online. We are happy to share industry report full of insights and interesting trends with the entire ecosystem”

Online automobile marketplace Droom has strengthened its position as the largest online automobile platform by registering $1 billion run rate in annual GMV for the year 2018. Droom also registered a net revenue run rate of $25 million, registering a 147% increment in comparison to the net revenue in 2017.

The company is targeting to double the GMV as well as revenue run rates to $2 billion and $50 million, respectively, in 2019. For which, Droom has already geared up to leave behind the milestones it achieved in the year gone by, and is all positive to achieve even greater success in the upcoming months. Additionally, consumer traffic increased 53% in 2018 – from 248 million to 380 million visitors – compared to the last year, said a press release.

Commenting on the achievement, Sandeep Aggarwal, founder and CEO, Droom, said: “This was our biggest year in terms of scaling our business to new heights and launching so many innovative products such as Quicksell, Droom Credit, Droom Plus, new vehicles sales and expanding our operations internationally. As we bring synergies to our vast portfolio of products, tools and services, Droom is positioned to deliver hyper-growth for years to come.”

While Droom continues to make a strong case for its international operations, especially in the South Asian market through a partnership with brands such as Toyota Group, it is also increasing its internal network of auto dealers.

"With a targeted $2 billion GMV in 2019 and a net revenue goal of approximately $50 million, Droom has already geared up to leave behind the milestones it achieved in the year gone by and is all positive to achieve even greater success in the upcoming months," said the company in a statement. "Additionally, consumer traffic increased substantially for Droom in 2018 by 53% as compared to the last year, from 248 million to 380 million visitors."

Commenting on the achievement, Sandeep Aggarwal, founder and CEO, Droom, said, “This was our biggest year in terms of scaling our business to new heights and launching so many innovative products such as Quicksell, Droom Credit, Droom Plus, new vehicles sales and expanding our operations internationally. As we bring synergies to our vast portfolio of products, tools and services, Droom is positioned to deliver hyper-growth for years to come.”

While Droom continues to make a strong case for its international operations especially in the South Asian market through a partnership with brands such as Toyota Group, it is also increasing its internal network of auto dealers. The numbers increased from 2.15 lakh in 2017 to 2.71 lakh in 2018, and Droom expanded its operations from 493 cities last year to 735 in 2018.

Listings on the platform increased by 39% in the last 12 months, from 6.21 lakh to 8.65 lakh. Listed GMV increased by 176% from Rs 18,000 crore to Rs 48,000 crore. The number of vehicle categories offered by the platform also increased from 38 in 2017 to 50 in the year. Alexa ranking for the brand also saw a steep jump from 319 in 2017 to 78 in 2018, making Droom the most visited auto platform.

As Droom prepares to list on Nasdaq in 2020, YourStory met Sandeep Aggarwal, CEO and Founder, Droom to understand how the company evolved in the last four years, how many revenue sources it has built, how it ensures vehicle safety and many other things. Edited Excerpts from the interview:

(YS): How has Droom’s journey been so far, and what kind of challenges have you overcome to date?

Sandeep Aggarwal (SA): We started as an online marketplace for used cars in Delhi. Three months later, we had used cars and two-wheelers, but only in New Delhi. A year later, we had used cars and two-wheelers in 100 cities in India. Six months after this, we had facilities such as insurance, roadside assistance, warranty inspection. Now, we have automobiles across 48 categories including planes, bicycles, segways, golf carts and yachts among others.

We started building an entire ecosystem because I realised that being in Droom in 2014 was very similar to being in Flipkart in 2008. Everything was up for grabs. So, we kept on building one by one. Besides that, we grew so fast that we always ran short of office space and ran short of people, which in hindsight are good problems to have.

If you were to tell us at what stage you are in currently, what would you say?

SA: I would like to draw an analogy to the 1700s when farmlands got converted into what is now Manhattan in New York. People kept hearing for decades that the world’s most-advanced city will be created there. But all they saw was dust, drill machines, charcoal, cement, and a lot of construction, and it was never-ending. So many people must have got frustrated and would have thought they will never see a modern city.

This is how I felt until very recently. We were exactly like that. We were in a very deep infrastructure mode from the last four years, which we will continue to be, because it takes a decade to create a world-class company. But now, we are creating a lot of things which are very monetisable and its increasing.

Today, we are touching almost $1 billion in gross revenue and $23 million in net revenue. We get nearly 40 million user traffic, and we are touching close to 9 million app downloads. We have 270,000 auto dealers on our platform, and we have sold six lakh vehicles in the last four years, which is worth Rs 8,000 crore.

We are now looking at listing on Nasdaq by 2020, and by then we are looking at a gross revenue of $3 billion to $3.5 billion and net revenue of $110-120 million. That is the kind of stage where we want to be and we are already at one-third of the level currently.

YS: What are the key aspects to ensure the cars and vehicles on your platform are verified and safe to use?

SA: We are not selling the brand new unsealed box of iPhone, which is standard, and you know the condition. We are selling automobiles like Maruti Suzuki and Wagon R, which has been used for 70,000 km since 2014. So, there’s a lot of subjectivity.

An Indian consumer is concerned about four things - How do I know the exact condition of the vehicle? Am I picking it at the right price? Can I trust the seller? Are the documents genuine?

On the pricing front, Droom has created Orange Book Value (OBV) for benchmark market value of a vehicle. You know the price of one-litre diesel or 10-gram gold and the stock price of a company. But what about used vehicle pricing? OBV’s patent is pending and it is an independent tool, which is an algorithmic pricing engine to find the fair market price of any used vehicle. With OBV benchmarking, we can get the right price, rather than pulling a number from the hat.

We also have ECO, which is a virtual inspection service that users can use to get a thorough 121+ point auto inspection performed by certified technicians at their doorstep. We have 6,200 auto technicians who can perform any vehicle inspection under 48 hours. With this service, we can even give you repair estimates. We give you independently taken pictures, as you know the pictures are always better than the actual. So, when the inspector is taking a picture, they are more realistic.

Droom History is a repository for a vehicle’s historical record, which allows users to know how many owners have changed hands on the vehicle if there is a disputed title, was it stolen, does it have an outstanding bank loan, accident history and other things.

YS: How are the prices decided for the vehicles?

SA: If you're selling, it is your privilege at what price you want to sell. We are not a marketplace, an ecommerce company, or a retail company, but theoretically, we are a technology, IT, and data science company. So, whenever you are selling a vehicle, Droom will give you Orange Book Value benchmark pricing that this vehicle’s worth is between Rs 4.3 lakh to Rs 4.7 lakh.

If you don't use that price, then we will give you a further recommendation. For example, “Dear Rashi, 73 percent people have sold a similar vehicle at a price below your pricing. Would you consider changing it?” If you don’t change, then we will give you another data, like an average price or median price at which similar vehicles were sold during the week or during the last 90 days. We have also started giving a number for chances.

If you sell your car for Rs 4.7 lakh, we will say the chances of selling it are 12 percent and the time to sell is 43 days. And if you reduce the price to Rs 4.5 lakh, then we will tell you that the chances are 28 percent and selling time could be up to 30 days.

YS: In terms of unit economics, how has it changed over the years, and how has it evolved now?

SA: In the first year, we made close to 1.5 percent as our income on one successful transaction. We incurred almost 12 percent in marketing and 4 percent in indirect expenses like my salary, office expense, legal, travel, etc. That was our economics four years ago.

In the second year, our economics became 1.75 percent on a transaction, marketing cost went down to 6 percent and all other expenses down to 2 percent. Today, we make roughly 2.4 percent, spend 2.9 percent on marketing, 1.5 percent on all other negative expenses.

YS: How has the business model evolved over the years?

SA: In the past, we only made money by selling vehicle sold by an auto dealer. But today, there are three business models - classifieds, discovery platform, and transaction-based platform.

In the marketplace, we have four models - B2C, C2C, C2B and B2B. About 88 percent of business comes from B2C, and 10 percent from C2B and C2B, and the rest two percent comes from B2B.

Earlier, we used to make only 2 to 3.5 percent money from the successful sale of the vehicle, which is 15 percent on all the services. Then, we also have a monthly subscription service, pro-seller subscription, under which we charge a monthly subscription and provide them with a SaaS-like service and a few premium features.

We also monetise OBV, as we sell that as a package. Our fintech service Droom Credit too has three business models - we sell leads to the lenders in the range of Rs 50 to Rs 250; since lenders user our credit technologies, we charge 1 to 1.5 percent of the loan value and roughly Rs 3,000 as a processing fee, and third is we have started deploying some of our own capital, and that’s the most profitable business.

Earlier, we had only one revenue source, and now we have six revenue sources and still 80 to 85 percent of the total revenue comes from the sale of two-wheelers and cars. About 15-18 percent is coming from other categories, which is growing five-six times faster than the 85 percent.

YS: So why listing on NASDAQ, and not BSE or NSE?

SA: So the idea behind listing on Nasdaq is that a technology business needs comparables. For instance, if you are buying a house, you will like to know how much someone else has paid for a similar property. Hence, benchmarking and the comparison is very important in any transaction. In BSE (Bombay Stock Exchange), we will have no or very less comparison. But in Nasdaq, we have Rediff, Sify, and MakeMyTrip among others.

Also, our comparables are not in India, but in China. We want to be on Nasdaq so that we can have the right comparables. And this was a long-term plan. Therefore we incorporated in Singapore from the beginning because if you are incorporated in India, you must list at least one stock exchange in India before listing it anywhere outside.

Droom, the online auto marketplace for buying and selling new and used automobiles aims to add seven more countries in 2019 in South East Asia. Sandeep Aggarwal, Founder and CEO droom.in told Zee Business Online that the company is currently the third largest e-commerce marketplace in India in terms of GMV and the coming year is very important for it.

"We, are expecting to add 7 more countries in 2019 in SE Asia. Our hyper growth continues and justifies our success story. We are the third largest e-commerce marketplace in India in terms of GMV. Finally, our FinTech product Droom Credit is off to a great start toward to second half of 2018 and can be a wildcard for the upside in Droom story in 2019," he said.

Aggarwal added that 2019 is extremely important for droom as it is not only looking at becoming a profitable venture but also to scale the business across various geographies, categories and products to the levels never seen before in India in automobile vertical.

The company foresees a promising future and has well-planned everything in advance. The growth in the next 12 months will be driven by a good 2018 where Droom with over 65% market share of the automobile transactions online has ascended its business to almost $1bn annual run rate of gross merchandise volume, 2.75 Lakh auto dealers, 800+ cities, and close to 40mil monthly traffic.

They have managed to achieve a Y-o-Y growth of 220% and enjoy over 75%+ market share in the online automobile transactions market. "We also raised two rounds of funding and total raised touched $125mil. The success also helped us expand internationally, with Droom launching operations in Malaysia and Singapore," Aggarwal added.

The company expanded explored multiple ventures such as new vehicle deal on Droom platform, QuickSell, auction platform for procurement by auto dealers, expansion in two South East Asian countries, the launch of Droom enterprise including serving large owners and operators and other enterprise verticals.

It has also deepened presence in 2nd and 3rd tier cities and launched 12 new categories including electrical, commercial, and insurance. The platform offers a wide range of categories from bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan.

हार्डी सांधू के गानों पर लोगों ने जमकर मौज किया |

हार्डी सांधू अपने परफार्मेंस में इतना बेहतर रहते है कि वो पल भर में लोगों को अपना दिवाना बना लेते हैं।

रूम ने चार प्रमुख श्रेणियों- जूरी च्वॉइस, बायर्स च्वॉइस, डीलर्स च्वॉइस और बेस्ट ऑफ ड्रूम के अलावा दस उप-श्रेणियों में भी पुरस्कार दिये गये। ड्रूम के संस्थापक और सीईओ संदीप अग्रवाल ने कहा कि भारत दुनिया का तीसरा सबसे बड़ा ऑटोमोबाइल बाजार है। 2013 से पुराने वाहनों की बिक्री की संख्या, भारत में नए वाहनों की बिक्री की तुलना में अधिक है। हालांकि, अधिकांश इकोसिस्टम अभी भी नए वाहनों के साथ जुड़ा हुआ है।

Droom has sold two-wheelers including scooters ranging between INR 50-60k and motorbikes with an Average Selling Price (ASP) of approximately INR 60k. Playing a crucial role in this promising market, Droom has generated a Gross Merchandise Volume (GMV) of approximately INR 32 crores, contributing to around 7.4% of the overall GMV.

Brands like Hero, Honda and Yamaha enjoyed domination in the market share of motorcycles and bikes, comprising around 95%. Honda, on the other hand, sold the most number of scooters, comprising 85% of share in the sales. The top selling models among motorcycles and bikes were Splendor Plus, Passion Pro i3s, CB Shine and FZS fi whereas Activa 5G emerged as the best-selling model among scooters.

One of the major reasons behind this surge in sale was the fact that Droom came up with a bounty of attractive offers amidst a market of car dealers struggling with high interest rates, high base effect, surged prices and muted consumer sentiments. Droom offered a discount of INR 25, 000 along with an interest rate as low as 8.99% on financing options. Additionally, Droom offered free one-year roadside assistance and a buyer security of up to INR 50 lakh on all pre-owned vehicles that were to be sold through the platform with a validity period of 6 months. Such festive offers led to an immense retention with a majority of demand for new vehicles in the two-wheeler category, deeming for around 96% of the orders in this segment.

Acknowledging the robust success, Sandeep Aggarwal, Founder and CEO, Droom remarked, “India is world’s largest two-wheeler market. In less than one year we have created the largest assortment of two wheelers online in India combined with auto loan, Insurance, RTO, and Assistance from auto experts. We think that Droom can be among the largest two-wheeler seller globally independent of channel in next three years.”

While cities like Delhi, Hyderabad and Ahmedabad were among the top 5 cities where these two-wheelers were sold, one of the most surprising factors was the emergence of smaller cities like Ludhiana, Vadodara, Surat, Alwar and Bilaspur among the top 10 cities showing orders in October.

During this festive month, brands like Hero, Honda and Yamaha enjoyed domination in the market share of motorcycles and bikes, comprising around 95 per cent while Honda sold the most number of scooters, comprising 85 per cent of share in the sales, Droom said in a release.

Acknowledging the success, Sandeep Aggarwal, Founder and CEO, Droom remarked, “India is world’s largest two-wheeler market. In less than one year we have created the largest assortment of two wheelers online in India combined with auto loan, Insurance, RTO, and Assistance from auto experts. We think that Droom can be among the largest two-wheeler seller globally independent of channel in next three years.”

Sale of two-wheelers was a significant contributor to the revenue generated by Droom, accounting for around 45 per cent of the same in the previous month.

The company has also said that hosting attractive offers amidst a market of car dealers struggling with high interest rates, high base effect, surged prices and muted consumer sentiments helped in surging the sale during the festive season.

Delhi, Hyderabad and Ahmedabad were among the top five cities where major volumes two-wheelers were sold, Droom said.

Flipkart co-founder Sachin Bansal is believed to back cab aggregator Ola with a $100 million investment after exiting Flipkart post its buyout by Walmart. Recently, Freecharge co-founder Kunal Shah announced his next start-up Cred, a platform to reward creditworthy individuals. Shah follows in the steps of Ashish Kashyap, founder of travel portal Ibibo, who recently announced his next venture, INDwealth, a wealth management start-up.

The rise in serial entrepreneurs heralds a healthy recipe for success, say experts. A working paper by researchers at Stanford University and at the Copenhagen Business School shows that serial entrepreneurs record faster success, are 39% more productive and have 67% higher sales than first-time entrepreneurs.

Venture capitalist and serial entrepreneur Bala Parthasarathy, who is co-founder and CEO of MoneyTap, says, “A good ecosystem like Silicon Valley has a healthy mix of both first-time and serial entrepreneurs. While starting a successful company once doesn’t guarantee repeat success, it certainly provides ballast to the entire environment, tempering it with euphoria and helping attract more investors into the country who are drawn by previous successes.”

It is necessary to begin your entrepreneurial journey with a well-defined goal or a purpose and to not let the enthusiasm blind you. Having a clear vision not only keeps one motivated but also aides in working towards that direction. You need to know what exact problem or need-gap your business will address and make a thorough plan and devise strategies accordingly. A clear vision with the right planning lays a strong foundation for any entrepreneurial venture.

Despite having a unique business model, many businesses fail due to the absence of a long-term strategy. Answering the “what” and defining the “how” of their business can help entrepreneurs in implementing a robust growth blueprint. Not only does this provide a coherent future vision for your start-up, but also allows you to plan ahead for contingencies and stay on top of any unforeseen changes in market dynamics. You are additionally able to map your current performance against predefined business goals, as well as to identify which business goals are no longer feasible. Such an approach allows your start-up to be flexible and agile while providing major growth markers as guiding milestones for your operations.

It is necessary to begin your entrepreneurial journey with a well-defined goal or a purpose and to not let the enthusiasm blind you. Having a clear vision not only keeps one motivated but also aides in working towards that direction. You need to know what exact problem or need-gap your business will address and make a thorough plan and devise strategies accordingly. A clear vision with the right planning lays a strong foundation for any entrepreneurial venture.

Despite having a unique business model, many businesses fail due to the absence of a long-term strategy. Answering the “what” and defining the “how” of their business can help entrepreneurs in implementing a robust growth blueprint. Not only does this provide a coherent future vision for your start-up, but also allows you to plan ahead for contingencies and stay on top of any unforeseen changes in market dynamics. You are additionally able to map your current performance against predefined business goals, as well as to identify which business goals are no longer feasible. Such an approach allows your start-up to be flexible and agile while providing major growth markers as guiding milestones for your operations.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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, 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.

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.

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.

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.

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.

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.

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.

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.”

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”.

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.

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.

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."

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 ...

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.

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 Valuation 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.

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 Valuation 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.

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.

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.

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.

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.

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.

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.

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.

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 ..

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.

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, 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.

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.

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,

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,

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.

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 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.

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, 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, 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.

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.

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.

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.

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

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.

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.

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.

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)

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.

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.

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)

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)

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.

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.

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+.

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+.

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.

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+.

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।

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.

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.

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।

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.

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 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.

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.”

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.

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.

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

"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.

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.

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.

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 '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 Valuation Report on their smartphones.

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 Valuation Report on their smartphones. (ANI)

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.

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’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.

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).

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.

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.

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!

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.

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.

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.

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.

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.

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.

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.

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.

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)

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.

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.

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.

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.”

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.

'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.

“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.

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.”

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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 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."

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.

"The funds will be used to strengthen the technology platform, tech-focussed acquisitions and strengthen Droom's brand portfolio,"

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.

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.

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.

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.

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.

‘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.

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!

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.

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.

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.

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.

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.”

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.