Droom achieves milestone with service expansion in 100 cities

Becoming one of the fastest growing consumer Internet companies in India, Droom recently announced the extension of its services to more than 100 cities across India.

Having disrupted the online automobile segment in the country, Droom has been growing at a breakneck speed since its operational launch in January 2015. The company currently has more than 26000 sellers and 90000+ listings on its platform, while the listed GMV at present amounts to more than Rs. 1000 crore. In comparison, Droom's platform in January 2015 had only 20 sellers, 200 listings and a listed GMV of Rs. 10 crore.

"Ever since the launch of our operations in India, Droom has been breaking growth records owing to its tech-driven disruptive business model and a consumer-centric, trusted brand proposition. The numbers highlight the high regard in which both our buyers as well as sellers hold us in and give a big boost to our efforts to provide them with the best online automobile marketplace experience," said Sandeep Aggarwal, Founder and CEO, Droom highlighting the achievements.

"Having expanded in 100 cities, we will be looking to add even more value to our services and keep up the high standards that we have set so far," Sandeep added.

Having launched its services in the 100th city, Droom is presently operating on an annualized run rate (ARR) of Rs. 425 crore, and is expecting to cross Rs. 2000 crore in ARR by December 2016.

With technology-driven marketplace approach, Droom offers a 21st century experience in buying and selling automobiles. It enables transactions between buyers and sellers by bringing transparency, building trust and mitigating information asymmetry.

Droom is a mobile-first marketplace with a presence on three platforms i.e. Android, iOS and Desktop. Founded in April 2014 in Silicon Valley, Droom is funded by some of the leading global venture investors and has a very strong and proven founding team with 75 years of combined experience in technology, Internet, E-Commerce and FMCG including 35 years in Silicon Valley. Droom has a team of 100+ professionals in Gurgaon (India) and Silicon Valley (USA) office.