Droom Registers $1 Billion Run Rate In Annual GMV In 2018

Droom country’s largest and pioneering online automobile transactional marketplace, recently registered a whopping USD 1 billion run rate in annual GMV (Gross Merchandise Value) for the year 2018. With this, the net revenue run rate of USD 25 million, registering a 147% increment in comparison to the net revenue in 2017. The targeted for GMV for 2019 is USD 2 billion and net revenue goal of approximately USD 50 million. Droom is planning to attain a substantial growth in the upcoming months. Also, the consumer traffic increased to a significant mark for Droom in 2018 by 53% in comparison 248 million to 380 million visitors.

Commenting on this achievement, Sandeep Aggarwal, Founder and CEO, Droom said, “This was our biggest year in terms of scaling our business to new heights and launch so many innovative products such as Quicksell, Droom Credit, Droom Plus, new vehicle sales and expanding our operations internationally. As we bring synergies to our vast portfolio of products, tools and services, Droom is positioned to deliver hyper-growth for years to come.”

With this, Droom continues to perform strongly in the international market, especially in the South Asian region. This includes the partnership with renowned brands like Toyota Group. It is also expanding its internal network of auto dealers, the numbers increased from 2.15 lakh last year to 2.71 lakh in 2018. Droom extended its operations from 493 cities in 2017 to 735 in 2018.

Also, the listing of vehicles on the platform increased by 39% in the last 12 months, from 6.21 lakhs to 8.65 lakhs. The listed GMV increased to a significant mark of 176% from INR 18,000 crore to INR 48,000 crore. The number of vehicle categories offered also increased from 38 last year to 50 in 2018. Alexa ranking for the brand also saw a steep rise from 319 in 2017 to 78 in 2018, making Droom the most visited auto platform.