Online automobile marketplace Droom has strengthened its position as the largest online automobile platform by registering $1 billion run rate in annual GMV for the year 2018.
Online automobile marketplace Droom has strengthened its position as the largest online automobile platform by registering $1 billion run rate in annual GMV for the year 2018. Droom also registered a net revenue run rate of $25 million, registering a 147% increment in comparison to the net revenue in 2017.
The company is targeting to double the GMV as well as revenue run rates to $2 billion and $50 million, respectively, in 2019. For which, Droom has already geared up to leave behind the milestones it achieved in the year gone by, and is all positive to achieve even greater success in the upcoming months. Additionally, consumer traffic increased 53% in 2018 – from 248 million to 380 million visitors – compared to the last year, said a press release.
Commenting on the achievement, Sandeep Aggarwal, founder and CEO, Droom, said: “This was our biggest year in terms of scaling our business to new heights and launching so many innovative products such as Quicksell, Droom Credit, Droom Plus, new vehicles 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.”
While Droom continues to make a strong case for its international operations, especially in the South Asian market through a partnership with brands such as Toyota Group, it is also increasing its internal network of auto dealers.