Droom's Orange Book Value Crosses 500 Million Pricing Queries for Used Vehicles in India

OBV, as used vehicle pricing engine has emerged as industry standard and is used by millions of buyer and sellers every month

New Delhi, June 1st, 2021: - Owing to the tremendous response for Orange Book Value (OBV) in the market, Droom, India’s largest and pioneering AI-driven online automobile marketplace today announced the new milestone in continued success by Orange Book Value. With approx. 7 million queries received every month, OBV, is India’s second-largest AI and Data science-based algorithm pricing engine for used vehicles, that has crossed the colossal figure of 500 million queries since its launch in 2016.

OBV is available in 38 countries, 7 currencies and 11 languages. It has been hailed as a game-changer in the used automobiles transactional sphere, covers a wide spectrum of vehicle categories in its evaluation base-including car, motorcycles, scooters, bicycles and planes - covering 80,000+ unique products from 100+ makes, 1000+ models, and 4000+ variants manufactured in the last 18 to 20 years. As per an OBV adoption survey, nearly 85% respondents claimed they relied completely and solely on OBV to determine the valuation of the vehicle to be purchased to sold.

Commenting on the exponentially rising popularity of OBV, Sandeep Aggarwal, Founder and CEO, Droom, said --

With India’s pre-owned automobile market showing an uptick and accelerating digital adoption, due to rapid urbanization, changing consumer needs and growing internet penetration, the figure of 500 million queries for OBV is an exciting milestone. OBV provides independent, objective and unbiased fair market value of any used vehicle and has reduced search time and search cost for used vehicles and has made buying and selling much easier. The pricing estimate carried out by OBV is the industry de facto standard now and is completely trusted by buyers, sellers, tens of thousands auto dealer and so many banks, NBFCs, and Insurance companies resulting in its immense popularity and adoption.

He further added, "This success reflects the strong customer trust in the OBV and its emergence as defacto industry standard for used vehicle pricing is due to its independent, objective and unbiased methodology AI and data driven approach”.

The data collected from the 500 million queries received for OBV revealed certain interesting results. According to the data, the two-wheeler category surpasses the four-wheeler category in terms of pricing queries generated. With income rising rapidly and the price of a motorbike being relatively less, first-time buyers with no or small familial responsibilities generally opt for the same. Furthermore, youngsters are attracted to the latest bikes with a high-price range, hence they look to buy used versions of the same in a perfect working condition. The top two-wheeler brands searched included Hero, Honda, Bajaj and Royal Enfield topping the charts. As for four-wheelers, the top brands searched were Maruti Suzuki, Toyota, Mahindra and Hyundai. A major chunk of OBV’s users reside in metropolitan cities such as Bengaluru, which tops the charts of highest traction of OBV city wise. Following Bengaluru are Delhi, Mumbai and Gurugram.

About Orange Book Value (OBV)

OBV is India’s first and only algorithmic pricing engine to find out the fair market value of any used vehicle under 10 seconds for free. OBV is based on 21st century data science and machine learning. Orange Book Value (OBV) is a simple yet extremely technology and data science based online tool to give users the value of a used automobile under 10 seconds. OBV is available in 38 countries, 7 currencies and 11 languages. With OBV, you never have to pull a number from hat or guess a used vehicle pricing but a scientific way to know the fair market value and the best part is OBV is completely free. Since its launch, OBV has seen 500 million+ pricing queries for 80k+ products, and 350k+ auto dealers use it across India each month. OBV is now available for used mobile phones also. OBV is available as destination website (www.orangebookvalue.com), iOS and Android App, OBV Widget for 3rd party bloggers and a print edition.

For More details on Orange Book Value visit www.orangebookvalue.com

About Droom

Droom is a tech and data science-driven online automobile marketplace, which offers 21st-century experience in buying and selling automobiles in India. As a marketplace, Droom offers Great Selection, Low Prices, Trust, Transparency, and Convenience second to none. Droom has 600K+ automobiles to choose from with a listed inventory of $14Bn+ from over 20K+ Auto Dealers and presence in 1,091 cities. Droom has 6.5 Mn+ Facebook followers, making it the largest auto-focused community in India.

Droom has built an entire eco-system around used automobiles for the digital economy, including Orange Book Value (used vehicle pricing engine | 460 Mn+ Queries), ECO (1,000+ points vehicle inspection | 152K+ inspections), History (history records for used vehicles | Database of 250 Mn+ vehicles), Discovery (dozens of pre-buying research tools), and Financial Services (Loan & Insurance).

With an 80% market share of the automobile transactions online, Droom is India’s largest automobile platform online and among the largest E-Commerce companies. Droom is among the most trusted consumer internet brands in India often recognized for its innovative approach and technology and is backed by marquee global investors.

Pravesh Mehta, early investor in Unicorn Droom, joins 9Unicorns as Venture Partner

The recent development comes in the wake of a series of virtual campaigns conducted by Venture Catalysts across tier II and tier III cities.

Ahmedabad, October 12th, 2020: In a bid to build a strong entrepreneurial ecosystem in cities beyond the metros, 9Unicorns, India’s first Accelerator VC fund, is roping in angel investors as venture partners. One such venture partner is Mr Parvesh Mehta, real estate developer and an industrial engineering professional-turned- angel investor from Ahmedabad, Gujarat.

Mr. Mehta brings his tremendous company-building expertise and investor network to boost startup activity in the emerging cities and towns in India.

With keen eye for early investment opportunities, Mr Mehta was drawn towards the startup ecosystem by pumping in seed money in Droom, an online marketplace for used vehicles. The success of Droom becoming a Unicorn, led Mr Mehta to invest in 25 more startups since then. He also got associated with Venture Catalysts in 2018. 9Unicorns is the accelerator fund of Venture Catalysts.

Mr Mehta, as a Venture Partner at 9Unicorns, has committed around Rs 50 crore into the fund where he will along-with other investors, intend to help the entrepreneurs in smaller Indian cities and towns. He has already invested Rs 30 crore of his total commitment.

Welcoming Mr Mehta onboard, Dr. Apoorva Ranjan Sharma, Co-founder and MD, 9Unicorns, said, “We are excited to have Pravesh as a partner at 9Unicorns. His commitment towards our fund shows how successful business persons from tier II and tier III cities are interested in exploring their role as angel investors. As India’s largest integrated incubator and accelerator VC, it is our constant thrive to create a widespread network of investors beyond metros.”

In a career spanning over three decades, Mr. Mehta’s initiatives continue to make significant contributions to the city of Ahmedabad - from developing green residential projects on the expanding rural boundaries to leading heritage revitalisation in the heart of the old city. Partnering with 9 Unicorns, he envisions making Ahmedabad one of the leading hubs for Indian startups.

Mr. Mehta’s recent efforts have helped the accelerator achieve its first close of INR 100 crore. His current approach involves building local investor communities that bridge the enthusiasm of younger generations with the grounded understanding of seasoned professionals. These communities provide avenues for investor education and collaborative due diligence - nurturing a sustained interest and sense of comfort among new angel investors.

Pravesh Mehta, Venture Partner at 9Unicorns, commented, “I am extremely delighted to expand my collaboration with 9Unicorns. An accelerator-VC approach enables me to actively mentor startups throughout their growth journeys, and at the same time, keep it real for my investor communities. We see tremendous potential in mobilising startup and investment activity across tier II and tier III Indian cities, and I am thrilled to play a part in this journey”.

Mr Mehta is also, meanwhile, educating the business class residing in non-metros to look at startups as an alternate asset class and invest in promising idea stage companies for better returns.

“By investing in early stage startups, the business community can not only get a chance to multiply their wealth bar better than what they could earn through traditional means but also get an opportunity to be a part of the country’s startup ecosystem. This is a win-win situation for everyone” Mehta said.

Initiatives such as 9Unicorns are needed to augment the growth of the Indian startup ecosystem. Engaging with this accelerator, startups will be able to access global VCs and family offices for series A/B, as well as, follow on committed investments of INR 3-15 crore by Venture Catalysts for deserving startups.

9Unicorns is an initiative by Venture Catalysts (VCats) founders -- Dr. Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain.

About 9Unicorns

9Unicorns in India's First Accelerator VC. It provides acceleration support & seed funding to early-stage startups. 9Unicorns provides funding upto $100K per startup in the first round, and $500K-$2Mn in successive rounds with its co-investors. From idea stage to angel stage, it supports startups across various themes & sectors.

9Unicorns' strength & focus is on a hand -on support ecosystem for startups, beyond capital. Startups take money from 9Unicorns for access to a wide network of successful category leading founders, CXOs of large corporations, seasoned angel investors & partners of global VC funds. Every portfolio company receives acceleration support for 3 months & post-investment support of 18 months.

Gurgaon-based Droom to List on NASDAQ in 2020, Announces Sandeep Aggarwal

Gurgaon-based Droom, an online marketplace to buy and sell new and used automobiles, is preparing to list on the Nasdaq exchange in the second half of 2020, its founder and CEO Sandeep Aggarwal told a business daily.

In an interview to Sandeep Soni of Financial Express (FE), Aggarwal said that the public listing would also give 150 of 360 employees at Droom having stock option to convert their sweat equity into capital. Besides, Droom is also hiring across multiple positions as it aims to be a 500-people company in the next four months.

For NASDAQ listing, Droom is also working with some bankers.

Additionally, the company is also planning to raise a fresh round of funding however the exact timing and size of capital will be decided in nine months before the planned NASDAQ listing, according Aggarwal.

In May this year, Droom raised $30 million (~ Rs 203 crore) in Series D equity financing round led by world's largest automaker, Toyota, through its subsidiary Toyota Tsusho Corp.

Founded in June 2014, Droom has raised a total of $125 million in six rounds of investments and is valued approximately $550 million. Droom might raise a round of around $100-150 million in 2019 in a pre-IPO round to expand its market share, global presence and invest in technology and infrastructure.

Besides, the FE report further suggests that Droom also is proactively pushing its overseas expansion plan with Malaysia in November this year, Singapore in December and Thailand in January 2019.

By end of 2019 Droom will be available in total nine countries including Vietnam, Philippines, Cambodia, Laos, and Myanmar.

In December 2016, Droom has launched Droom History, an unbiased report which curates historical data available through various authorised data providers to deliver in-depth information about a vehicle’s background. Generated using Droom’s proprietary technology, the report addresses issues related with a vehicle’s safety, trust, and value.

In June of same year, announced the closing of its Series B funding in a round led by BEENEXT from Singapore and Digital Garage from Japan. Majority of existing investors are participating in the current round including Lightbox and BEENOS. Also, in September, the company entered into a partnership with CashCare, an innovative consumer lending platform where short-term loans are provided on a real-time basis.

[Top Image - ET Auto]

World's Largest Automaker Toyota Led $30 Mn Funding in Gurgaon-based Droom

In its first India investment, world's largest automaker Toyota, through its subsidiary Toyota Tsusho Corp, has led a $30 million (~ Rs 203 crore) in Series D equity financing round of Droom, a Gurgaon-based online marketplace for used automobiles and auto services. The financing round was also co-led by Japanese incubator and venture capital investor Digital Garage, who is an existing investor in Droom.

Other investors who participated in the round include existing investors Ellison Investments along with several institutional investors and family offices from China, Hong Kong and South East Asia.

Notably, Droom has also signed a Memorandum of Understanding (MoU) with Toyota to expand its services overseas to markets such as Indonesia and Thailand.

Droom will utilize the freshly raised funds to boost its market share, which it claimed stands at 70%. It added that it tech-led platform will also invest heavily in further developing its artificial intelligence and machine learning capabilities.

Till date, Droom has raised about $95 million in equity financing and competes with the likes of Temasek and Warburg Pincus-backed CarTrade and Google Capital and Hillhouse Capital-backed CarDekho.

Founded in June 2014 by Sandeep Aggarwal, Droom claims to be India's first and mobile first marketplace to buy and sell used and new automobiles. Prior to this funding, the startup last raised $20 million in its Series C round led by Integrated Asset Management and Digital Garage.

“Droom has seen tremendous growth over the past three and half years in terms of adoption by buyers and sellers, number of categories and listings, geographical presence and GMV of transactions. This partnership (with Toyota) will play a major role for Droom as we realize our growth potential, both in India and internationally,” said Sandeep Aggarwal, Founder & CEO, Droom.

The company claims to generate about $700 million in gross revenue and $15 million in net revenue. The platform has about 250,000 auto dealers across over 500 cities in India.

"We were impressed that Droom has rapidly established its leadership position as the largest online marketplace to buy and sell automobiles in India. We believe that this partnership contributes to the establishment of highly transparent transaction of automotive and the wholesome development of auto market of any developing countries, by combining Droom’s technologically advanced platform and our various automotive business experience of all over the world," said a spokesperson for Toyota Tsusho Corporation.

The expansion will help Droom double its gross merchandise value to $1.4 billion by the end of 2018 and $3.5 billion by 2019. Droom is also targeting a public listing through an IPO by the end of 2019.

Source - ET Tech

World's Largest Automaker Toyota Led $30 Mn Funding in Gurgaon-based Droom

In its first India investment, world's largest automaker Toyota, through its subsidiary Toyota Tsusho Corp, has led a $30 million (~ Rs 203 crore) in Series D equity financing round of Droom, a Gurgaon-based online marketplace for used automobiles and auto services. The financing round was also co-led by Japanese incubator and venture capital investor Digital Garage, who is an existing investor in Droom.

Other investors who participated in the round include existing investors Ellison Investments along with several institutional investors and family offices from China, Hong Kong and South East Asia.

Notably, Droom has also signed a Memorandum of Understanding (MoU) with Toyota to expand its services overseas to markets such as Indonesia and Thailand.

Droom will utilize the freshly raised funds to boost its market share, which it claimed stands at 70%. It added that it tech-led platform will also invest heavily in further developing its artificial intelligence and machine learning capabilities.

Till date, Droom has raised about $95 million in equity financing and competes with the likes of Temasek and Warburg Pincus-backed CarTrade and Google Capital and Hillhouse Capital-backed CarDekho.

Founded in June 2014 by Sandeep Aggarwal, Droom claims to be India's first and mobile first marketplace to buy and sell used and new automobiles. Prior to this funding, the startup last raised $20 million in its Series C round led by Integrated Asset Management and Digital Garage.

“Droom has seen tremendous growth over the past three and half years in terms of adoption by buyers and sellers, number of categories and listings, geographical presence and GMV of transactions. This partnership (with Toyota) will play a major role for Droom as we realize our growth potential, both in India and internationally,” said Sandeep Aggarwal, Founder & CEO, Droom.

The company claims to generate about $700 million in gross revenue and $15 million in net revenue. The platform has about 250,000 auto dealers across over 500 cities in India.

"We were impressed that Droom has rapidly established its leadership position as the largest online marketplace to buy and sell automobiles in India. We believe that this partnership contributes to the establishment of highly transparent transaction of automotive and the wholesome development of auto market of any developing countries, by combining Droom’s technologically advanced platform and our various automotive business experience of all over the world," said a spokesperson for Toyota Tsusho Corporation.

The expansion will help Droom double its gross merchandise value to $1.4 billion by the end of 2018 and $3.5 billion by 2019. Droom is also targeting a public listing through an IPO by the end of 2019.

Source - ET Tech

Droom Raises Rs 130 Cr in Series C Led by Integrated Asset Management and Existing Institutional Investors

At a time when funding has become the most elusive term in the e-commerce landscape with even growth-stage companies struggling to find willing investors, Droom, Indian online automobile transactional platform has proved that it stands apart from the rest yet again. It has successfully raised $20 million in its Series C round led by Integrated Asset Management and Digital Garage. A number of prominent institutional investors and family offices from China, Hong Kong and Taiwan participated in the round which is demonstrating the deep trust and confidence that brand Droom elicits today.

The round of funding is the fifth in Droom’s history and positions the platform to further disrupt the online automobile space in India. With the fresh infusion of funds, Droom has raised closed to $65 million so far, a figure which will enable it to further fortify its market domination. The newly-raised capital will be leveraged to consistently build on its tech platform and drive greater adoption of its ecosystem tools such as History, ECO, OBV and Credit.

Speaking on this round of funding, Droom Founder and CEO, Sandeep Aggarwal said, “Droom is the largest auto portal in India in terms of gross revenue, monthly traffic and number of auto dealers. We are also the largest auto vertical and the largest hyperlocal marketplace in e-commerce. Leaving the category behind, we have established ourselves amongst the top 4 e-commerce platforms in India. Series C rounds typically accelerate the pace of growth for a business and help it establish its undisputed leadership in its sector and that’s exactly the case with us. This fresh capital infusion into our war chest will once and for all give us an unchallenged competitive edge, not just in the online automobile space but in the e-commerce landscape at large.”

Speaking on the occasion, Jeffrey Yam, Integrated Asset Management said, “India is the next China as far as consumer internet is concerned. We are really impressed by Droom's ability to drive innovation, create scalable technology platforms, and capture the growth of the Indian automobile industry. Droom creates value for the industry by directly addressing and solving common pain points experienced by buyers and sellers.”

Siddharth Talwar, Co-founder & Partner, Lightbox, an existing investor with Droom, affirmed that Droom is both a market leader and true innovator, revolutionising the way that people buy used vehicles in India. The Company's focus on building core technology products to support its marketplace from its pricing engine Orange Book Value to Droom History to ECO and now Credit, enables them to provide tremendous transparency to consumers throughout the country -which can never be duplicated by traditional dealers. We look forward to being a part of the company’s continued success.

In May 2017, Sandeep Aggarwal also announced his plans of investing Rs 20 crore in 9-12 startups by the end of this year.

Droom Raises Rs 130 Cr in Series C Led by Integrated Asset Management and Existing Institutional Investors

At a time when funding has become the most elusive term in the e-commerce landscape with even growth-stage companies struggling to find willing investors, Droom, Indian online automobile transactional platform has proved that it stands apart from the rest yet again. It has successfully raised $20 million in its Series C round led by Integrated Asset Management and Digital Garage. A number of prominent institutional investors and family offices from China, Hong Kong and Taiwan participated in the round which is demonstrating the deep trust and confidence that brand Droom elicits today.

The round of funding is the fifth in Droom’s history and positions the platform to further disrupt the online automobile space in India. With the fresh infusion of funds, Droom has raised closed to $65 million so far, a figure which will enable it to further fortify its market domination. The newly-raised capital will be leveraged to consistently build on its tech platform and drive greater adoption of its ecosystem tools such as History, ECO, OBV and Credit.

Speaking on this round of funding, Droom Founder and CEO, Sandeep Aggarwal said, “Droom is the largest auto portal in India in terms of gross revenue, monthly traffic and number of auto dealers. We are also the largest auto vertical and the largest hyperlocal marketplace in e-commerce. Leaving the category behind, we have established ourselves amongst the top 4 e-commerce platforms in India. Series C rounds typically accelerate the pace of growth for a business and help it establish its undisputed leadership in its sector and that’s exactly the case with us. This fresh capital infusion into our war chest will once and for all give us an unchallenged competitive edge, not just in the online automobile space but in the e-commerce landscape at large.”

Speaking on the occasion, Jeffrey Yam, Integrated Asset Management said, “India is the next China as far as consumer internet is concerned. We are really impressed by Droom's ability to drive innovation, create scalable technology platforms, and capture the growth of the Indian automobile industry. Droom creates value for the industry by directly addressing and solving common pain points experienced by buyers and sellers.”

Siddharth Talwar, Co-founder & Partner, Lightbox, an existing investor with Droom, affirmed that Droom is both a market leader and true innovator, revolutionising the way that people buy used vehicles in India. The Company's focus on building core technology products to support its marketplace from its pricing engine Orange Book Value to Droom History to ECO and now Credit, enables them to provide tremendous transparency to consumers throughout the country -which can never be duplicated by traditional dealers. We look forward to being a part of the company’s continued success.

In May 2017, Sandeep Aggarwal also announced his plans of investing Rs 20 crore in 9-12 startups by the end of this year.

#FathersDay - Here're 12 Entrepreneurs Telling Us The Tale of Their Superhero ‘Fathers’

The relationship with your father indeed is the strongest of all and you know him in and out.He was always there as a strong pillar when you needed him, heard you when you were low, praised you on your achievements. Father is not just our guardian but a mentor,24*7 advisor, consultant, problem solver and what not. When you decided to start out on your own, who was the one who believed beyond doubt that you will succeed? Your father, of course. Being an entrepreneur is hard, being a father is tougher. Here are few startup heroes telling us the tale of their superheroes ‘Fathers’.

‘My Father Is A True Source Of Inspiration For me’

For Rishab Malik, co-founder and Vice President-Business Development at Droom his father is the real hero in his life. He shares a special bond with his father as he was the one who instilled in him the importance of discipline and resilience to achieve our goals in life.

“He always taught us to be ruthlessly focused on achieving results, having the highest moral fibre and also having a Plan B or a contingency plan - all traits he himself picked up during his tenure with the Indian Army. Above all, he taught us the importance of having a good attitude and always thinking positive. He is a true source of inspiration for me in all facets of life be it being a sportsman, a professional or a family man,” says Malik.

‘Sometimes you just have to make your own way to get what you want'

Dhruv Mathur, co-founder at Little Black Book after moving back to India wanted to start his own startup in the payments space, called GetFbPay.in. Looking at local experiences through the lens of ticketing and transactions, his first startup gained significant momentum. However, he and his team decided to integrate with LBB in 2015, and you know who helped him in his vision, it was his father.

'Sometimes you just have to make your own way to get what you want' - this is not really a mantra, but a way of operating for my dad. He's always optimistic of getting what he wants, and never deterred if one way to meet an objective doesn't work out. There's always an alternative action to take, always different people to work with to meet your goal. Learning this MO (Modus Operandi) has made me a better founder, helped seal deals, raise funds, and getting the right people for our team,’ says Mathur.

‘Things Do Fall Into Place Sooner Rather Than Later’

Munmun Ganeriwal, a Nutrition and Exercise Consultant after working with renown contemporaries, she followed her dreams and started her own venture to spread the essence of fitness across. But before reaching the heights, Munmun had to face a lot of hardship which at times take her to the verge of quitting. During this phase, it was her father who held her hand and guided her to stay focused towards her goal.

“Everything is hard before it is easy”, my father often said, every time I was on the verge of losing my patience and giving up. It also made me an optimistic person as it implied that things do fall into place sooner rather than later.I have grown up learning the golden mantra from him that “One can excel only when one puts their heart and soul into their work”. Migrating from MIT Engineering College, from a “highly coveted” course to a “not so well known” course to pursue my passion & study Nutrition and Fitness, also work & train clients after college hours to start my professional journey, all at the age of 20, thus came very naturally to me,” says Munmun.

A Perfectionist Father

Chinmay Bhatt strongly believes that entrepreneurs are a product of strong and rooted parenting. They are not people with overnight success riding on an investment betting wave by venture capitalists. They are individuals with immense mental strength and self-discipline.

Bhatt father is very high on self-discipline. He shares that every small task he takes up, he gives it a 100%. Right from filling water bottles, polishing shoes, even fixing a fuse or renovating the kitchen for Diwali. Bhatt says if his father was involved, he would go in the minutest of the details and do it with utmost cleanliness and perfection.

“We were painting a wall together once, he was doing double coats and I was running out of patience (as I had to go to play cricket). When he saw me edgy, he quoted -- I can't sleep well, if deep down my heart I know I could have done it better. Can you? Though perceived perfectionism is a problem for many and holds them back. Time spent with my dad has evolved me to be active and perfection-oriented along with a sensible balancing,” shares Bhatt, Chief Marketing Officer at Shopholix.

‘If Everyone Is Moving Forward Together, Then Success Takes Care Of Itself’

Having grown up on the backseat of her dad's impromptu motorcycle trips and hour long breakfast discussions, Mitali Tandon has been in close proximity of watching her father personal and professional journey of being a successful entrepreneur, a respected industry expert and a great leader. As an entrepreneur, Tandon, every time when she is at a crossroads, she can't help but reflect on the way her dad met his challenges.

“My father doesn't have to try hard really, it's been all the little things that happen on a daily basis that add up to superhero status. One of the biggest take-away's, for me, has been his leadership style. He is the most inclusive and collaborative leader. Everyone that has worked with and around him has been prosperous and grown consistently. His strong vision and ability to carry people has impacted the way I build my team and interact with my partners, an ability that's particularly relevant in today's competitive world. My father and I strongly believe in a quote by Henry Ford - If everyone is moving forward together, then success takes care of itself.” shares Tandon, co-founder of Morning Fresh, post drinking anti-hangover detox drink.

'Be Witty'

Shishir Gupta, CEO at Oakter believes that he has got two most defining traits of his personality from his dad. One is forgetfulness and other is wit. He learned from him that there is only one right perspective to look at this world and life in general and that is the witty perspective.

On asking Gupta about the relationship he shares with his father, he said “I remember an incident, my dad once called one of my friends. He didn't have my dad's number so he asked ‘Aap kaun?' and he replied 'Rishte main to hum Shishir ke baap lagte hain.’ My friend almost died laughing. Both these perspective really helps in a stressful situation as an entrepreneur and help in keep moving forward. One thing that I haven't inherited from him is his altruism.He really makes me wonder how can anybody dissolve boundaries between self and non-self to such an extent. To me, it just looks crazy. Perhaps someday I will grow up to understand.”

‘Never Leave Anything Undone And Incomplete’

FitPass Co-founder, Arushi Verma’s father has given her golden mantra to always believe in herself and never leave anything undone and incomplete. “He told me to focus on my aim to set an example for others. Two years ago when I decided to start FITPASS he asked me to lead from the front and be confident of myself and my decisions.He always showed me a positive way and helped me look at mistakes as lessons in life,” shares Verma.

‘Believe In Yourself’

For Tapan Dixit, CEO and co-founder at Talespin his father has been a huge inspiration to him. The best lesson he has learned from his father is to always believe in yourself. “Looking back, it’s so important than being the best in class or winning every battle. When I was a young boy, I remember my father telling me that there’d be times when I would fail, or when things won’t turn out the way I’d ideally like them to and it’d be in times like these that I’d have to stay strong and believe in myself. Success comes with self-belief and perseverance,” says Dixit.

‘Put Blinders On The Sides That Conspire You To Hold Back’

Surabhi Mittal is the creative trigger behind Revived by Surabhi, a Ghaziabad-based home décor design label that focuses on reviving old traditional techniques and dying arts while celebrating the power of hand making. For Mittal, her father means the entire world.

On asking her, how his father inspired her, she said, “The best advice given by my father was to simply put blinders on the sides that conspire you to hold you back. He constantly reminded me to not think what the world is thinking about you. His golden mantra was that dreams are not what you see in sleep, they are something that does not let you sleep. He used to tell me that you are my fish who will swim in a unique direction and will not follow the school of fish. Following his precious advice and support, I have been able to start my own business and in a continuous process to achieve great heights.''

‘Small Signs Reveals Big Things About People’

Instappy founder Ambika Sharma shares a special bond with her father. Her father has taught her about the small aspect of life which contributes to a greater extent in a life. “He taught me to have strength, to listen, to pay attention to the small signs which reveal big things about people, my love for adventure and above all he taught me that anything is possible to achieve, you have to believe that you can and you have to be willing to work hard for it,” says the founder.

‘Balance Work And Life While Aspiring For Excellence In Both’

For Lakshmi Dasaka, his father has played an integral part in her upbringing. It was her father who helped her to stay true to her goals and manage time effectively and therefore today she is the co- founder of Goodness, that aims to bring the café experience right to your doorstep.

“Being an army officer, my father was very discipline.I have never seen my father complain about his work schedule or pressure. Work truly is worship for him. He is 65 years old and still has a 14-18 hour work day and a very fit and active lifestyle. As an entrepreneur and a mother, this is an everyday inspiration for me to balance work and life while aspiring for excellence in both,” shares Dasaka.

‘Always Be Passionate’

Two years ago when Jimmy decided to start his own business, it was her father who stood by her and told her to respect her decision and never lose faith in what she decided to take forward. He has always been her source of inspiration whenever she face any challenge in her life.

Jimmy Kaul, M.D and co-founder of Shopotox says "The best advice my father ever gave me was to always believe in your instincts and be passionate for what you set to achieve. He said that this is true that there will be many hurdles in the way but never give up and you continue your struggle until you succeed. In life, you need to be strong enough to stand against the odds. He told me to be financially independent to take care of my needs ".So, what are your dad’s mantra which keeps you going? Do share with us in the comment box below. Also, this year do go on a date with your dad and spend some quality time and go down the nostalgic lane while enjoying your meal.

So, what are your dad’s mantra which keeps you going? Do share with us in the comment box below. Also, this year do go on a date with your dad and spend some quality time and go down the nostalgic lane while enjoying your meal.

[Top-most Image - Shutterstock]

Sandeep Aggarwal to Invest Rs 20 Cr in Up To 12 Startups by the End of 2017

Sandeep Aggarwal, Founder – ShopClues & Droom never fails to remind his fans and followers why he’s been given the tag of ‘India’s star serial entrepreneur’. The man, whose favourite hobby seems to be identifying and encouraging the growth of innovative ideas has now announced plans of investing INR 20 Crore in 9-12 start-ups by the end of this year. Ventures in the high-potential areas of healthcare, tech and retail can look forward to the much-valued patronage and mentorship of Sandeep, also christened as the father of the marketplace model in the Indian Internet eco-system.

Sandeep Aggarwal, who has already invested in 7 start-ups across various industry verticals is looking to expand his investment portfolio by entering the data science app development arena as well. Dekoruma, Wydr, Shopsity, Data Guise, Give Club, Duriana and Curo Healthcare have all received funding during the past few months. While Wydr, Shopsity and Curo Healthcare are Indian companies, the rest mostly belong to South East Asian markets and the Silicon Valley. He has also promised to invest more in interesting business ideas coming from Tier-2 and Tier-3 cities in India to encourage entrepreneurship and innovation in these areas. Sandeep invested $500K in 2016 and there is a 6x increase in investments this year.

Speaking on his investment plans, Sandeep Aggarwal, Founder, ShopClues & Droom and Angel Investor commented, “The current health and success of Droom owes a lot to the faith bestowed upon me by my early-stage investors and the funding received from them. As an early-stage entrepreneur, I often felt helpless myself at the lack of funding and mentorship during the most crucial phases of my business. I have always strived to provide young entrepreneurs the necessary resources and guidance required to let them realize their vision. This year, too, will be no different and I will ensure in my personal capacity that no great idea is nipped in the bud due to lack of capital or the right guidance.”

One of the most prolific investors and entrepreneurs in India, Sandeep Aggarwal is the founder of India’s first managed marketplace and India’s 5th Unicorn start-up, ShopClues, and the first and largest online automobile transactional marketplace Droom. His far-reaching vision can be gauged from the fact that while most Indian entrepreneurs are looking to consolidate their funds rather than investing them in other ventures, Sandeep frequently keeps investing in ideas that he finds interesting and even keeps a tab on the markets of foreign shores, as evident in his decision to invest in Dekoruma, one of the strongest home-décor platforms in Indonesia.

The serial investor has time and again stressed on the extremely important role technology plays in businesses of today and highly regards the possibilities of a tech-driven business to turn big. High-energy, passion, long-term vision, ability to take risks, the art of prioritization and austerity along with the ability to implement technology well are some of the attributes Sandeep believes to be important for entrepreneurial success.

Droom Launches Droom History, India’s First National Repository for Used Vehicles

In a move that once again underlines its pioneering status in the country’s automobile industry, Droom, Indian online automobile transactional marketplace, has announced the launch of Droom History. Droom History is an unbiased report which curates historical data available through various authorised data providers to deliver in-depth information about a vehicle’s background. Generated using Droom’s proprietary technology, the report will address issues related with a vehicle’s safety, trust, and value.

Speaking on the launch, Sandeep Aggarwal, Founder & CEO, Droom, said, “Unlike USA and Western Europe, India is a low trust market, especially for used automobiles. Many aspects of a pre-owned vehicle, such as ownership history, title dispute, and vehicle-related issues, are non-reliable. This is largely due to the unavailability of verified information about a pre-owned vehicle. With Droom History, we are making India’s largest information repository for used vehicles. By providing a report on vital vehicle-related information to a prospective buyer within minutes, we aim to foster greater trust and transparency in the used automobile segment.”

In order to present the most consolidated and transparent report to its users, Droom constantly collects and updates vehicle information in over 18 unique data fields from 1000+ RTOs across the country. Droom History currently has information about more than 19 crore private and commercial vehicles such as two-wheelers, cars, taxi, trucks etc in its database, with real-time information of nearly 6 million vehicles from the Delhi-NCR region alone. During the first phase of the launch, Droom will put up listings with valid RC numbers on its platform. The front-end will also be soon opened to users, giving them access to the most accurate, real-time information about used vehicles.

Somendra S. Rathore, Senior Director, Product and Technology, Droom, added, “The used vehicle market in India often faces issues such as low transparency and a distinct lack of trust between buyers and sellers. With Droom History, we aim to plug this information gap by making a standardised, central repository for used vehicle history. Integrating disparate IT systems and producing our own data science and machine tools over the past nine months has been a colossal task, but we’re confident that our hard work will pay off and help India embrace a more digitally-driven economy.”

The process of generating the Droom History report for a vehicle will be fairly simple. All user will have to enter the vehicle’s VIN or registration number and check for the availability of the report. If the vehicle report is available in Droom’s database, users can get the report sent to their registered email address within half an hour for free of cost. The information can then be leveraged by users to make better purchases, ensuring the security of their investment and offering them peace of mind while purchasing a used vehicle.

In June 2016, Droom has announced the closing of its Series B funding in a round led by BEENEXT from Singapore and Digital Garage from Japan. Majority of existing investors are participating in the current round including Lightbox and BEENOS. Also, in September, the company entered into a partnership with CashCare, an innovative consumer lending platform where short-term loans are provided on a real-time basis.

Droom Accelerates to INR 100 Cr Monthly GMV in 19 Months

Droom, the country’s pioneering online automobile transactional marketplace continues to ride the wave of success with its disruptive innovations and strategic approaches. In a massive business achievement, the online automobile portal has been able to successfully clock a monthly gross merchandise value (GMV) of INR 104 crore in a short span of 19 months.

Droom 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.

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.

Founded in April 2014 in Silicon Valley, Droom is Indian marketplace to buy and sell new and used automobiles and automobile services. The company has taken a completely innovative and disruptive approach to build trust and pricing advantages for buyers.

The current experience of buying and selling an automobile is completely broken, antiquated and full of pitfalls. Droom offers a truly 21st century experience in buying and selling automobiles. With its technology driven marketplace approach, 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.

Droom is among the fastest growing consumer Internet companies in India with 78K+ B2C sellers, 25K+ products, 113K+ listings, $963 Mil+ in listed GMV, 2.81 Mil+ FB Likes (highest for any automobile community in India) and over 3.4 Mil+ downloads for mobile apps.

Droom has a very strong and proven founding team with 50 years of combined experience in technology, Internet, E-Commerce and FMCG including 20 years in Silicon Valley. Sandeep Aggarwal is founder of Droom. Prior to Droom, Sandeep founded ShopClues.com, Indian eCommerce marketplace and 5th Unicorn in the Consumer Internet in India. Droom has a team of 168 and is funded by some of the leading global venture investors.

Image - Sandeep Aggarwal, Founder and CEO, Droom

Droom Enters into a Partnership With Real-Time Lending Platform CashCare

If you’ve been planning to purchase your dream car this festive season, your wishes have been granted. Droom, Indian online automobile transactional marketplace has entered into a partnership with CashCare, an innovative consumer lending platform where short-term loans are provided on a real-time basis. Coinciding with the availability of the latest range of four-wheelers and bikes from colossal names in the automobile industry such as Chevrolet, Skoda, Nissan, Datsun, Mahindra and Hero Electric on Droom, this association hopes to make the buying process completely hassle-free for customers. The most significant aspect of this association is the incredible 0% APR introductory offer that makes buying new vehicles on EMI extremely attractive.

To ease out the financial burden, Droom and CashCare have also decided to offer pre-approved loans to eligible buyers. Loans of up to 70% of the value of the vehicle are available with a loan period of 3-12 months. With these offerings, CashCare has provided a golden opportunity for buyers who are on the verge of purchasing their first vehicle but were being encumbered by financial constraints.

One of the biggest features of this collaboration and the introductory offer is a 0% Annualized Percentage Rate on the loan amount on the vehicles. This feature makes it all the more attractive for buyers who are apprehensive of interest charges while buying a car. A dealership that provides 0% APR is one of the most amazing deals customers can get this festive season.

Rishab Malik, Co-Founder and VP – Business Development, Droom said, “With the launch of the new vehicles category, we also decided to make the accessibility of the products greater. To this end we are pleased to associate with CashCare and help fulfill the dreams of many of our customers in a quicker and more efficient way. The introductory offer of 0% APR is truly incredible and will further enhance the affinity that vehicle buyers feel for this new service.”

CashCare Founder and CEO, Vikas Sekri further added, “Droom has emerged as a significant market innovator in the automobile buy/sell market. As a real-time finance provider, CashCare understands car buyers’ needs for hassle-free and quick disbursal of loans. We hope to facilitate many customers through our association with Droom and help them drive their dream vehicles home this festive season.”

Droom has further added to its unmatched reputation of being a complete service facilitator by ensuring procedures at the Regional Transport Office (RTO) are taken care of, with varying charges depending on the type of vehicle and location of RTO. Furthermore, there is a one-year manufacturer warranty available on every vehicle bought through it which is also delivered within 30 days of order placement. Droom buyers also benefit in terms of security as their vehicles are completely covered by the Droom buyer protection policy. With this wide gamut of services and its constant thrust on innovation, Droom has yet again proved its leadership position in the Indian automobile transactions market.

A couple of days back, Droom announced its foray into the new vehicles’ segment. The company has also announced a budget of Rs 100 crore for its marketing blitz. And in June this year, the firm had closed its Series B funding in a round led by BEENEXT from Singapore and Digital Garage from Japan.

Droom Enters into a Partnership With Real-Time Lending Platform CashCare

If you’ve been planning to purchase your dream car this festive season, your wishes have been granted. Droom, Indian online automobile transactional marketplace has entered into a partnership with CashCare, an innovative consumer lending platform where short-term loans are provided on a real-time basis. Coinciding with the availability of the latest range of four-wheelers and bikes from colossal names in the automobile industry such as Chevrolet, Skoda, Nissan, Datsun, Mahindra and Hero Electric on Droom, this association hopes to make the buying process completely hassle-free for customers. The most significant aspect of this association is the incredible 0% APR introductory offer that makes buying new vehicles on EMI extremely attractive.

To ease out the financial burden, Droom and CashCare have also decided to offer pre-approved loans to eligible buyers. Loans of up to 70% of the value of the vehicle are available with a loan period of 3-12 months. With these offerings, CashCare has provided a golden opportunity for buyers who are on the verge of purchasing their first vehicle but were being encumbered by financial constraints.

One of the biggest features of this collaboration and the introductory offer is a 0% Annualized Percentage Rate on the loan amount on the vehicles. This feature makes it all the more attractive for buyers who are apprehensive of interest charges while buying a car. A dealership that provides 0% APR is one of the most amazing deals customers can get this festive season.

Rishab Malik, Co-Founder and VP – Business Development, Droom said, “With the launch of the new vehicles category, we also decided to make the accessibility of the products greater. To this end we are pleased to associate with CashCare and help fulfill the dreams of many of our customers in a quicker and more efficient way. The introductory offer of 0% APR is truly incredible and will further enhance the affinity that vehicle buyers feel for this new service.”

CashCare Founder and CEO, Vikas Sekri further added, “Droom has emerged as a significant market innovator in the automobile buy/sell market. As a real-time finance provider, CashCare understands car buyers’ needs for hassle-free and quick disbursal of loans. We hope to facilitate many customers through our association with Droom and help them drive their dream vehicles home this festive season.”

Droom has further added to its unmatched reputation of being a complete service facilitator by ensuring procedures at the Regional Transport Office (RTO) are taken care of, with varying charges depending on the type of vehicle and location of RTO. Furthermore, there is a one-year manufacturer warranty available on every vehicle bought through it which is also delivered within 30 days of order placement. Droom buyers also benefit in terms of security as their vehicles are completely covered by the Droom buyer protection policy. With this wide gamut of services and its constant thrust on innovation, Droom has yet again proved its leadership position in the Indian automobile transactions market.

A couple of days back, Droom announced its foray into the new vehicles’ segment. The company has also announced a budget of Rs 100 crore for its marketing blitz. And in June this year, the firm had closed its Series B funding in a round led by BEENEXT from Singapore and Digital Garage from Japan.

Droom Announces Launch of New Vehicles on Its Marketplace

After creating a strong position for itself and building tremendous consumer trust in the pre-owned vehicles’ space, Droom, India’s pioneering online automobile transactional marketplace, has announced its foray into the new vehicles’ segment. With this step, Droom firmly cements its market leadership position in the overall automobile sphere of the country. Already popular as the country’s premier used vehicle buying and selling platform, Droom’s new vertical launch is just in time for the festive season and is sure to add to the ebullience of those looking to invest in their dream vehicles at this time of the year.

Droom is bringing unique innovations to the new category that will include a bank loan 50% of vehicle value pre-approved, door-step test drive and a slew of other goodies to various gift vouchers further to make the prospect of buying a new car from Droom more attractive. Droom’s far-sightedness and vision with its new automobile segment can be gauged from the fact that it has already tied up with major brands such as Nissan, Chevrolet, Skoda, Mahindra and the innovation powerhouse of e-vehicles, Hero Electric. Presently, automobiles from all the other brands except Mahindra are available in Delhi-NCR region while Droom facilitates buy/sell of Mahindra vehicles on a Pan-India basis.

Commenting on the announcement, Mr. Sandeep Aggarwal - Founder and CEO, Droom said, “After 18 months of successfully selling 30k used vehicles and generating a revenue of INR 1200 crores annualized GMV and growing 700% year on year, we are proud to finally be a part of the new vehicle market. Earlier we wanted to focus on the used-vehicle segment and change the way it functions through the use of digital tools. In the same vein, we want to know create a paradigm shift in the still conventionally-run new vehicle sector and bring about a positive disruption for the benefit of the end consumer.”

In a bid to ensure buyers are not discouraged by loads of paperwork, Droom has tried to keep the loan approval process short. The pre-requisites for loan application involve proof of Indian citizenship, birth/age proof for verification as an adult, 18 months of service/profession/business history and a government photo-id.

Already, about 50% of the online target-user traffic generated in the automotive space is being handled by Droom. To create a wider customer base, various offers such as an iPhone 7 and iPad are also being bundled in, to enhance purchase propensity in the initial phase of launch. The new automobiles are sold at Droom with basic listing prices and qualify the Droom Orange Book Value Excellence evaluation parameters. Equipped with allied services such as instant auto loans and vehicle insurance, Droom is looking to set new benchmarks in the Indian automobile market with this foray.

Droom Announces a Budget of INR 100 Cr for its Marketing Blitz

Droom, Indian online automobile transactional marketplace is geared up to launch a mega promotional campaign with a budget of INR 100cr. The new campaign is being launched for television, YouTube, print, digital and social media and will also be seen outdoors on billboards and external installations. The entire campaign is designed to drive traffic and increase consumer awareness and to enhance the sense of pride amongst Indian consumers when it comes to buying a pre-owned vehicle.

Droom, which has reported more than 700% year-on-year revenue, plans to adopt an aggressive performance-linked marketing approach which will see country-wide spread of the advertisements. Automobiles, being a big-ticket item, have a significant gestation period which may last from a minimum one month to a year.

Commenting on the king-size marketing budget, Sandeep Aggarwal, Founder and CEO Droom, said, “Buying a used vehicle is still shrouded in great doubt for many Indian consumers. This year, through our marketing efforts, we hope to instil a sense of pride in the buyers when they purchase a pre-owned automobile. Our focus completely lies in implementing high Return-On-investment promotion options. Furthermore, the 360-degree marketing initiatives will also help us achieve our goal of reaching an annualized GMV of INR 3000 crore by the end of 2016 and INR 5-7,000 crore by the end of 2017 by enhancing consumer tendency to look at the benefits of purchasing their dream vehicles through us.”

Keeping this trend in mind along with the upcoming festive season when the propensity to purchase vehicles is the highest, Droom will be rolling out the marketing initiatives well in advance. Of the total 100cr budget, INR 25 crore has been allocated to TV, outdoor, print and radio advertising and other ATL activities. Considering the huge market available digitally, a further INR 25 crore has been assigned to digital promotional activities such as Search Engine optimization, online ads etc. With the festive season in the offing, deals and discounts would also feature significantly in the marketing budget allocation.

Droom’s marketing campaign would be a round-the-year process with periods of heightened activity. Catering to seven different cities including Delhi NCR, Bangalore, Pune, Ahmedabad and Mumbai, Droom envisions INR 100 crore budget as the minimum threshold, rather than the maximum value allocation, and plans to raise the industry standards of marketing expenditure through its upcoming brand building activities.

Droom Bags Series B Funding Led by BEENEXT from Singapore and Digital Garage from Japan

Droom, India’s pioneering online automobile transactional marketplace, has announced the closing of its Series B funding in a round led by BEENEXT from Singapore and Digital Garage from Japan. Majority of existing investors are participating in the current round including Lightbox and BEENOS.  The fresh funds will be used to further strengthen the dominating position in the online market for automobile in India, continue to make platform more scalable and functionally rich, and expand internationally.   The amount raised for the new round of funding is significantly higher than the Series A, Droom raised in July 2015.

Droom with a presence in 142 cities has the largest reach in the hyper-local category in India and will use the fresh funding to further grow in the local markets and expand presence across international geographies. The latest round will see the Gurgaon headquartered company use the proceeds to create a larger sales team, adding more business lines, boosting its technology platform with a focus on creating a richer consumer experience.

Speaking on the development, Sandeep Aggarwal, Founder & CEO, Droom, said, “We have been witnessing tremendous growth over the past 16 months in terms of adoption by sellers, number of categories and listings, geographical presence in 142 cities across in India, and GMV/transactions.  Droom is permanently changing how automobiles should be bought and sold online by creating tools for 21^st century for trust, transparency, pricing and convenience.  We are very delighted that BEENEXT and Digital Garage have liked Droom journey so far and the future potential and decided to lead the round.”

Speaking on the occasion, Teruhide Sato, Founder and managing partner, BEENEXT said, “Droom has swiftly established its leadership position as the premium digital marketplace to buy and sell automobiles in India.  Sandeep is an exceptional founder and his vision, grip on marketplaces and ability to drive innovations are second to none.  We supported him and Droom fairly early on and have seen tremendous growth and disruption Droom has brought to the market.”

Adding to the same, Kaoru Hayashi, President and Group CEO, Digital Garage, added, “What Sandeep and the entire team at Droom have been able to do in such a short span of time is extremely impressive and is the main reason why we have handpicked Droom for investment. We are confident that our investment, coupled with its differentiated approach and disruptive business model, will continue driving its spectacular growth trajectory in the future as well.”

Through the funding and the ongoing support of investors, Droom, aims to cement their position in India as the ultimate automobile marketplace. To materialize this, the company will also see an infusion of funds towards marketing, business development, customer acquisition (operations) and new category expansions.

Droom Is India’s First Mobile Marketplace To Buy & Sell New & Used Automobiles

Have a used car to sell but don't know where to go, whom to approach? Don’t worry anymore, because now you can sell your used car yourself without any middleman at Droom. Founded in April this year in Silicon Valley, the Gurgaon-based startup prides itself on being India's first marketplace to buy and sell used and new automobiles.

At Droom, they understand that the whole process of selling and buying an automobile can be completely broken and full of pitfall, stress, pain points and anxiety. Hence, they try to make the whole process smoother and much easier by building trust, increasing transparency and mitigating information asymmetry between two users interested in buying or selling their cars. They try their level best to make the experience of selling and buying automobiles worry free and less cumbersome.

Buying a vehicle is very easy at droom. Firstly, you just have to find a vehicle of your interest. You can search, sort, filter and shortlist the vehicles that interest you the most. The second step involves building trust and comfort. In this step, you’ll review and evaluate the listing details. Droom makes sure that they have a rich catalogue of information on the vehicle, including the history and condition of the vehicle, seller background, and the authenticity of the vehicle. The third step involves paying the commitment fee. This fee acts as a token or advance. It is covered under buyer protection and is completely refundable. This fee makes the seller committed to the deal and the listing gets deactivated on the site. The fourth step involves meeting the seller and reassuring your committed item. In this step, the buyer makes the final value payment to the seller and they sign and exchange documents. And, in the fifth step the seller handovers the key to the buyer.

Selling a vehicle is as simple as buying the vehicle on the platform. The seller starts by creating a listing for their vehicle. This will include filling out the basic facts, the details about the seller, trust factors, housekeeping items and a description of the vehicle. The second step involves the buyer committing himself/herself to the vehicle by paying the commitment fee. Once this is done, the listing is deactivated on the site. The third step involves meeting and realizing the final value payment. In this step, the buyer and seller sign and exchange document and receive final value payment. Droom releases the commitment fee on completion. And, in the fourth step the seller handovers the keys to the buyer.

Droom has a very committed and strong founding team with over 75 years of combined experience in FMCG, Internet, technology and E-commerce. The company is based out of Gurgaon.