Droom aims to add seven more countries in 2019 in South East Asia
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.
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.