Online automobile transactional marketplace Droom, which had introduced its unique and path-breaking pricing engine, Orange Book Value (OBV) in 2016, has announced that the price engine has generated a whopping 200 million user base within 28 months of its operations.
After acquiring such a huge user base, OBV has also become the third largest search engine in India.
Droom's OBV gets close to 15 million users on OBV every month to obtain a fair market value of a used vehicle in less than 10 seconds! The algorithmic pricing engine covers a wide spectrum of vehicle categories, including cars, motorcycles, scooters, bicycles, and planes in its evaluation base, covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants produced in the last 15 to 16 years.
"With the help of OBV, we have generated a series of checkpoints based on statistical evidence, pricing based algorithms and prior industrial trends to arrive at a price decision that has been comprehensively calculated," said founder and CEO, Droom, Sandeep Aggarwal.
"We look forward to serving more consumers, auto dealers and enterprises, and further strengthening our position in the realm of automobile buying and selling space," added Aggarwal.
In the coming years, OBV is sure to disrupt the automotive resale space further and reaffirm its position as the default pricing engine of any vehicle in India.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)