Droom takes pricing engine OBV to west Asia, Europe and Oceania

By: |
Published: July 10, 2019 12:56:49 AM

Having generated approximately 300 million queries across nine categories in four countries till date, OBV plans to cater to 1.6 billion+ queries across 15+ categories in 100 countries by 2023.

Droom is aiming to make OBV the most preferred vehicle pricing engine all over the world. (Website image)Droom is aiming to make OBV the most preferred vehicle pricing engine all over the world. (Website image)

Online automobile transactional marketplace Droom has announced the launch of its comprehensive pricing engine orange book value (OBV) in 34 new countries.

OBV has already been in use in India, Thailand, Singapore and Malaysia in the last five years. By introducing the AI and data science-led pricing engine in 34 more countries across Europe, West Asia and Oceania, Droom aims at establishing OBV as the default engine for the fair market price of any vehicle in all these markets, the company said in a release here on Tuesday.

Droom founder and CEO Sandeep Aggarwal said, “Since its inception, OBV has brought tremendous amount of transparency, making fair and accurate pricing of used vehicles within the reach of individuals, dealers, insurance companies, banks and many other verticals and stakeholders across the ecosystem. OBV has facilitated not just an easy and hassle-free evaluation of pre-owned vehicles, but has also brought down the search time and cost remarkably.”

“We are beyond ecstatic about our global expansion, as something that started as an initiative meant for the world’s third-largest automobile market — India — is now becoming available in 38 countries across the globe. In the last five years, we at Droom have made significant investments in computation infrastructure, algorithms, AI, and machine learning so that we can offer a 21st century way for pricing used vehicles,” Aggarwal added.

Having generated approximately 300 million queries across nine categories in four countries till date, OBV plans to cater to 1.6 billion+ queries across 15+ categories in 100 countries by 2023.

With the strategic foray across 34 new countries, Droom is aiming to make OBV the most preferred vehicle pricing engine all over the world. The move is also likely to bolster Droom’s growth further across international markets.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.