Droom accelerates to Rs 100 crore monthly GMV in 19 months
Online automobile marketplace leaves behind the Rs 1,000 crore annualised GMV milestone to register a 700 per cent Y-O-Y growth
Droom, one of the country’s pioneering online automobile transactional marketplace, continues to ride the wave of success with its innovations and strategic approach. In a massive business achievement, the online automobile portal has been able to successfully clock a monthly gross merchandise value (GMV) of Rs 104 crore in a short span of 19 months.
One of the fastest growing web-based companies, Droom has already registered over Rs 1,200 crore in annualised GMV, with plans to achieve Rs 3,000 crore by March 2017 and estimating a colossal growth to the tune of Rs 5,000 crore by December 2017. The achievement has become all more impressive as Droom has spent only 3.75 per cent of the entire GMV value to run the entire organisation including marketing. With their innovation engine running on an overdrive mode, Droom is expected to crunch some big numbers again within a span of 5-6 months.
Commenting on the growth numbers, Sandeep Aggarwal, Founder and CEO, Droom, said, “It feels extremely satisfying to achieve and exceed the numerical goals we had set for ourselves. At a time when the auto industry has witnessed new vehicle sales improve by 9 per cent Y-O-Y and used-vehicle segment pick up by 15 per cent Y-O-Y while the e-commerce companies register a growth rate of 35 per cent Y-O-Y, Droom has been able to 700 per cent Y-O-Y growth. Not only our innovation engine is working big time with very advanced marketplace but also from highly innovative and data science offerings such as Full Circle Trust Score, Orange Book Value, Discovery Tools, and Eco.”
Droom first crossed the Rs 100 crore barrier by generating a Rs 104 crore GMV, or $17.3 million, at a constant currency exchange rate of Rs 60/USD. Reporting a 30 per cent month-on-month growth, it has also set a precedent of incurring low marketing costs by spending a mere 4.5 per cent of the total allocation and yet achieving such enormous expansion figures.
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