startup

Droom registers Rs. 100 crore monthly GMV in 19 months

Sandeep Aggarwal, Founder and CEO, Droom
Sandeep Aggarwal, Founder and CEO, Droom

Droom, online automobile transactional marketplace, said it has clocked a monthly gross merchandise value (GMV) of INR 104 crore in a short span of 19 months.

The Company further announced it has already registered over INR 1,200 crore in annualised GMV, with plans to achieve INR 3,000 crore by March 2017 and estimating a colossal growth to the tune of INR 5,000 crore by December 2017. “The achievement has become all more impressive as Droom has spent only 3.75% of the entire GMV value to run the entire organization 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,” stated the press release.

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% Y-O-Y and used-vehicle segment pick up by 15% Y-O-Y while the e-commerce companies register a growth rate of 35% Y-O-Y, Droom has been able to 700% 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 100 crore barrier by generating a INR 104 crore GMV, or $17.3 million, at a constant currency exchange rate of INR 60/USD. Reporting a 30% month-on-month growth, it has also set a precedent of incurring low marketing costs by spending a mere 4.5% of the total allocation and yet achieving such enormous expansion figures.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Most Popular

The Red Mark has been established as a news portal to act as a conduit between the booming startup economy and the established, traditional players. Today's startups are tomorrow's small and medium business or large enterprise and we believe that no one can afford to be an island; if both work in tandem they can learn a lot from each other.

Contact Us

Address : 570, first floor, sector 22B , Gurgaon - 122015

Contact No. : 0124-4377494

For Any Query Please write below


Editorial : karma@theredmark.net

Advertisement : hem@theredmark.net

Subscribe to Our Newsletter





CAPTCHA


copy the digits from the image into this box

Copyright © 2016-2017 The Red Mark. All Rights Reserved.

To Top