Country’s pioneering online automobile transactional marketplace Droom 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 Rs. 104 crore in a short span of 19 months.
One of the fastest growing web-based companies, Droom has already registered over Rs. 1,200 crore in annualized GMV, with plans to achieve Rs. 3,000 crore by March 2017 and estimating a colossal growth to the tune of Rs. 5,000 crore by December 2017. The achievement has become all more impressive as Droom has spent only 3.75 percent 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 five to six months.
“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 nine percent Y-O-Y and used-vehicle segment pick up by 15 percent Y-O-Y while the e-commerce companies register a growth rate of 35 percent Y-O-Y, Droom has been able to 700 percent Y-O-Y growth,” said Founder and CEO Droom, Sandeep Aggarwal.
Droom first crossed the 100 crore barrier by generating a Rs. 104 crore GMV, or USD 17.3 million, at a constant currency exchange rate of Rs. 60/USD. Reporting a 30 percent month-on-month growth, it has also set a precedent of incurring low marketing costs by spending a mere 4.5 percent of the total allocation and yet achieving such enormous expansion figures.