The company is all set to scale it up its global operations in 2019
New Delhi, March 06, 2019 – Registering a major milestone in its growth trajectory, Droom, India’s largest and pioneering online automobile transactional marketplace, has crossed 1 million unique monthly visitors in Malaysia. In addition to this, the Facebook community has also surpassed 100K members. And is expecting to hit the similar milestone in Singapore soon, where it announced its operations in December last year. The numbers reflect the remarkable success story of Droom, which recently started expanding into the international market by launching its services in Malaysia and Singapore late last year.
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 the 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 an 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.
Droom is the 3rd largest E-commerce company in India in terms of GMV and the largest online auto marketplace for buying and selling new and used automobiles with over 78% market share of the automobile transactions online.
Droom is headquartered in Gurugram, India, with a team size of 365+. Droom has 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 bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan.
Droom has in-built tech and data science tools to create the entire eco-system around used automobiles, including OBV (pricing engine), Eco (121 points vehicle inspection), History (200 million vehicle history records), Discovery (dozens of pre-buying tools) and Credit (India’s first and only marketplace for used vehicles’ loans). The company is currently generating $1009 Million+ in annualized GMV and growing at a rate of 150% Y/Y. Droom has a presence in 735+ cities across India (India’s largest hyper-local marketplace), 270K+ auto dealers (largest auto dealer platform in India), 40 Million+ monthly visitors, nearly 8.1 Million+ app downloads and 6 Million+ Facebook followers.
Droom is a Singapore Holding Company with subsidiaries in India and the United States. The company has so far raised close to $125 Million dollars 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 based investor Joe Hirao, Founder ZIGExN.