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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.
Droo 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. Droo uses data science to build trust at scale with a US Patent technology called Full Circle Trust Score. Droo has also built the de-facto pricing standard for used vehicles in India – OBV, which has a US patent. Droo 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 $681 Mil+ in annualized GMV growing at the rate of 350% Y/Y, 232 K+ auto dealers (largest auto dealer platform in India), presence in 500+ cities across India (largest hyper local marketplace), 27.30Mil + monthly visitors, nearly 7.4 Mil+ app downloads and 5843K + 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. Droo 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. Droo is a Singapore Holding Company with its subsidiary in India and United States. It has so far raised close to $65 million dollars in four rounds of funding. It is head quartered in Gurgaon, India with a team size of 281+.
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