For gaining early traction in the used two-wheeler marketplace segment and touching rs. 4.5 Crore in sales within 100 days of launch
Droom is a category, product, price, seller, brand and geography agnostic mobile marketplace for buying and selling automobiles. In a highly fragmented market, its key differentiator lies in bringing transparency and trust into the system, and mitigating information asymmetry with disruptive backend technology processes.
Funded by BEENOS Asia Ptd. Ltd. and BENEXT Pte. Ltd, Droom generates revenues by charging a per transaction fee and through its premium model. It has designed three selling formats; fixed price, best offer and auction, and ever since its official launch in early 2014, the company has grown 250 times and its output per employee has grown over 150 times.
Three years from now, Droom aims to touch Rs.10,000 crore in gross revenue and operate in 18 to 20 countries across three continents. In a decade, the founder sees Droom as a global market leader in the online automobile marketplace, catering to a million sellers and 50 million buyers.
Process Innovation: Organizing the automobile retail space and allowing automobile dealer SMEs to get online
Product Innovation: Droom Assist, helps new buyers with expert opinion on what to buy and with Droom Auction, the company is exploring a new sales format.
Business Model Innovation: Building a transaction-based business model, with a keen focus on bring down costs and organizing the used automobile marketplace