What is Droom? Droom Review, Features

Droom is India’s third largest e-commerce company (in terms of GMV) and the largest online marketplace for buying and selling new and used cars in India, with over 65% market share in online car transactions.

About Droom

Droom is a Singapore holding company with branches in India and the United States. Droom is headquartered in Gurgaon, India, and currently has a team size of 310+.

As of February 2019, Droom has a presence in over 600 cities in India (India’s largest local market), has over 300,000 car dealers (India’s largest car dealer platform), has over 38 million monthly visits, nearly 8 million app downloads, and over 6 million Facebook fans.

Serve

The platform offers services ranging from bicycles to airplanes and all cars such as warranty, RSA, insurance and car loans.

Droom has built-in technology and data science tools to create an entire ecosystem around used cars, including OBV (pricing engine), Eco (121-point vehicle inspection), History (200 million vehicle history records), Discovery (dozens of pre-purchase tools), and Credit (India’s first and only used car loan marketplace).

Market model and pricing

Droom has four market models: B2C, C2C, C2B and B2B.

Droom has three pricing formats: Fixed Price, Best Offer, and Auction.

Core Values

The culture at Droom is casual, fun loving, high energy, dynamic and apolitical, with passion and achievement being the top two things.

honor

In April 2016, Droom's TVC won the ABBY Bronze Award at Goafest 2016.

In July 2016, Droom was named one of the top 20 startups in Japan by Forbes Japan.

In July 2016, Droom was named one of the top technology startups of 2016 by PC Quest magazine.

In July 2016, it was named the most respected e-commerce company in India.

On August 21, 2016, Droom was named Technology Startup of the Year by Entrepreneur Magazine.

On December 16, 2016, Droom won three prestigious Effie Awards in 2016.

In January 2018, Droom was named one of the “30 Fastest Growing Companies in Asia in 2017” by Silicon Review magazine.

In January 2018, won the Bronze Award for Telecommunication and Technology in 0BV-Bakra Mat Banoad and Won Silver in Mobile Applications for E-commerce, Online Media, ECO Advertising.

Development History

-In June 2014, Droom was established in Singapore.

-In November 2014, the Android client was launched.

-In February 2015, the website was launched.

-In April 2015, the Apple client was launched.

-In August 2015, Droom received a $16 million Series A funding round led by Lightbox Venture Capital.

-In October 2015, the number of app downloads reached 1 million and the number of employees exceeded 100+.

-In December 2015, the number of sellers exceeded 20,000+.

-In February 2016, the app downloads reached 2 million+; at the same time, Droom launched OrangeBookValue.com.

-In March 2016, the company launched the "ECO" vehicle certification evaluation system, which can classify vehicle transactions into 1 to 10 levels based on the vehicle's historical transaction records, detailed photos provided by users, and other documents.

-In June 2016, Droom, an Indian online used car trading platform, announced that it had received Series B financing, with investors mainly including Beenext and Digital Garage.

-In November 2016, Droom launched the OBV TVC.

-In February 2017, Droom became the fifth largest e-commerce company in India.

-In March 2017, Droom became the number one online automotive portal.

-In April 2017, Droom Credit was launched.

-In July 2017, Droom received a US$20 million Series C funding round led by Integrated Asset Management.

-In September 2017, Bituji Beemer video advertisement was launched.

-In October 2017, Droom Discovery was launched.

-In May 2018, Droom received $30 million in funding in its Series D round led by Toyota Tsusho Corporation and Japanese technology company Digital Garage.

-In October 2018, Droom announced the completion of a US$30 million Series E financing round, with the investor being the family investment company of Joe Hirao, the founder of Japan's ZIGExN.