Gurgaon, Haryana – April 14, 2024 – Droom, India's leading online marketplace for buying and selling used cars, celebrates its 10th Founding Day anniversary today by unveiling a suite of groundbreaking products designed to transform the used car industry. These new offerings - MyDroom, AdReach, goDigital, and Chairman Club - empower consumers, businesses, and dealerships with comprehensive solutions for every stage of the car ownership journey.
Your Complete Car Management Companion. MyDroom redefines car ownership by becoming your one-stop shop for everything related to your vehicle. This innovative app offers a personalized dashboard, smart diagnostics with proactive alerts, effortless tracking of service schedules and renewals, seamless expense management, secure document storage, and multi-car management capabilities. Powered by AI, MyDroom suggests best practices, optimizes vehicle performance, and extends its lifespan. MyDroom also connects you with a range of car services like repairs, roadside assistance, and car washes, all within the app, fostering data-driven decision making for a smarter car ownership experience.
Performance-Driven Marketing Solutions for Businesses. Droom introduces AdReach, a tech and data-driven performance marketing platform offering solutions for both web publishers and advertisers. AdReach empowers web publishers to maximize their advertising revenue, while providing advertisers with targeted reach and measurable results. This comprehensive advertising platform leverages cutting-edge technology and data science discipline to ensure successful marketing campaigns in the ever-evolving digital landscape.
Effortlessly Establish Your E-commerce Store. Droom launches goDigital, a self-service, easy to use and plug/play and robust e-commerce platform to let any business of any size to E-Commerce site and App. goDigital offers two options: E-Commerce store and App Edition and E-Commerce sTore & App Edition with EMS. The E-Commerce store and App Edition provides a stunning website and app on a self-service basis to businesses and E-Commerce Store with App along with suite of EMS services includes catalog creation, online category management, site merchandising, digital marketing, online payments, fulfillment, delivery and customer support as E-Commerce Managed Services.
Empowering Dealerships for Growth. Droom unveils Chairman Club, a comprehensive suite of seller services designed to elevate the success of Indian auto dealerships and OEMs. Chairman Club provides a full spectrum of automobile services, including procurement of used vehicles at attractive prices, affordable dealer financing solutions, cutting-edge digital marketing tools, high-quality leads, self-service E-Commerce stores, automobile certification services, professional services e.g GST and taxes, store branding support, and visual retail merchandising expertise. Chairman Club equips dealerships with all the necessary tools and resources to excel in the competitive used car market. Chairman Club also has two services for automobile OEMs ie. ProSeller Enterprise for an OEM to have D2C channel for their line of products at Droom Marketplace directly or in conjunction with their dealership network and QuickSell for OEM, that enables all the authorized dearships of an OEM to use Droom’s marketplace to sell all the exchange vehicles under fixed price, auction or best offer and tap into Droom’s vast network of 23k+ dealerships in 1,174 cities.
"Droom has always been a trailblazer in leveraging AI and technology to disrupt the used car industry," says Sandeep Aggarwal, Founder & CEO of Droom. " We are not only pure play E-Commerce for automobile but also have built tech products and real IP. With these four products, we are expanding Droom’s charter not only while a transaction is happening but entire lifecycle management and helping enterprises, OEMs, dealers and advertisers not only on Droom platform but beyond Droom platform too. We are confident that these solutions will empower our partners and customers, propelling the Indian used car market towards a brighter future”, said Sandeep Aggarwal Founder & CEO of Droom."
• The most advanced award-winning technology tools to help enterprises in automobile for pricing, inspection, and historical records for automobile
• Droom expects INR 100 crore incremental revenue from Droom Cloud Services sold as subscription (SAAS)
New Delhi, April 17, 2023 –Enabling automobile Enterprises and SMEs in their critical and high economic value decisions, Droom has launched ‘Droom Cloud Services’, based on its propriety technology and data-science based software products.
The automobile market is a high touch and feel and low propensity market, selling high ticket items which creates a high trust deficit while buying and selling automobiles or issuing insurance, policy, or loans approval. In the used vehicle market, there is a high amount of information asymmetry, lack of transparency and no standardization model of product or service delivery. To deal with the informational asymmetry of the Indian automobile market and solve that herculean task, Droom started building automobile ecosystem tools which could create adoption for automobile online.
Droom launched the pioneer ‘Droom Cloud Services’ which is an automobile cloud platform which offers ‘Transactional Services’ to large enterprises and SMEs for enablement of transaction and also generates a trust factor leading to the adoption of automobile selling and buying online. These services are structured in a way that makes it independent, objective, unbiased, comprehensive, and scientific.
Pricing as a service is powered by OBV (Orange Book Value) a data science driven algorithmic pricing engine, to forecast the right fair-market value of any used automobile. Orange book value has emerged in the last 8 years as a de facto standard for used vehicle pricing. OBV is based on 21st century data science and machine learning. Since its launch, OBV has seen 527Mn+ pricing queries for more than 80K+ products and 342K+ auto dealers use it across India.
Inspection as a service is powered by Eco is a mobile app, IoT and AI driven auto inspection service. Droom has more than 16K certifies technicians in 1000 cities who perform auto inspection based on Droom’s propriety inspection methodology along with IoT, AI and central QC system.
History as a service is powered by Droom’s history services, India's largest national repository with more than 200 million of the total 220 million registered vehicles in India. The report provides in-depth details about a vehicle's background, more than 60 lakh vehicles real-time updated data covering up to 50 different historical records in 10 seconds. HAAS helps enterprises and SMEs to know vehicles historical records during buying, selling, procuring of vehicles, or before loan, insurance, policy approvals.
Over the years Droom built these outstanding and top-notch services backed by technology and data science which started gaining inbound interest from OEMs and fleets, insurance and money lenders who were interested in using these services in their own enterprise setting. Understanding the value these services provide to the industry, Droom is now offering these services to large enterprises and SMEs as subscription, aiming to take the stress out from managing all things around their automobile business helping them to focus on seamless growth and making their business as transparent, seamless, comfortable, and trusting as possible.
Launching the Droom Cloud Services, Sandeep Aggarwal, Founder & CEO, Droom said, “Droom is the only pure-play ecommerce company with the most suite of propriety tech and data driven ecosystem of services. Introducing Droom Cloud Services, we are taking our core expertise to the automobile businesses for them to use and benefit from our advanced tools and services. We are sure that businesses will grow, scale, and stand to gain from them.” He also added, “On our 9th anniversary Droom Cloud Services has truly emerged as a ‘AWS’ moment for us.”
Droom has launched these services to solve the demand and supply problems by disrupting the 140-year-old traditional automobile retailing. Droom is providing enterprises and SMEs a platform where they can leverage and benefit from Droom’s core expertise. With more than 200 Mn visitors yearly, Droom is one of the first companies to offer such extensive propositions like vast selection, low prices, inspected and certified vehicles, and more.
