Share This Article
If you’re in the market for a new or used vehicle in India, you might have come across Droom.
This online marketplace has quickly become a go-to destination for buyers and sellers alike. With a wide range of offerings, from vehicle pricing to inspections, financing, and insurance, etc.
What sets Droom apart is its innovative approach to the online marketplace and its commitment to customer satisfaction.
Are you interested in learning more about this leading online automobile marketplace?
If so, you’re in the right place!
Let me tell you about the company, its success story, key strategies, and the future.
An Inside Look at Droom
Droom is an online marketplace for buying and selling new and used automobiles in India. The company was founded in April 2014 by Sandeep Aggarwal, an entrepreneur, and investor with extensive experience in the e-commerce industry.
Droom offers a wide range of services, including vehicle pricing, inspections, financing, and insurance. The company’s cutting-edge technology, value-added services, and commitment to customer satisfaction have made it a popular choice for individuals looking to buy or sell a vehicle online in India.
The Automobile Industry
The automobile industry is constantly evolving, with new technologies and innovations always emerging. Recent developments include the rise of electric and autonomous vehicles, which have the potential to transform the industry entirely.
According to the Society of Indian Automobile Manufacturers (SIAM), the Indian automobile industry’s overall sales grew by 22% in the fiscal year 2021-22 compared to the previous year.
The current growth in the industry can be traced as:
| Vehicle Segments | Growth | Units Sold |
| Passenger vehicle (PV) | 41% | 2,713,059 |
| Two-wheeler | 9.1% | 18,824,312 |
| Commercial vehicles | 31.5% | 383,571 |
The Founders and the Team
Droom was founded by Sandeep Aggarwal, a seasoned entrepreneur, and investor who has a wealth of experience in the e-commerce industry.
As the CEO of Droom, Aggarwal has assembled a team of experienced professionals from a variety of backgrounds, including technology, marketing, finance, and operations.
Some of the key members of Droom’s leadership team include
- Rishab Malik, the Vice President of Business Development, and
- Akshay Singh, the Vice President of Operations.
Together, they are responsible for driving the company’s growth and success.
Name, Tagline and Logo
Tagline: India’s Most Trusted Motorplace
Logo: The Droom logo features a stylized letter “D” in orange color, representing energy, enthusiasm, and innovation. The letter is encircled by a blue ring, symbolizing trust, reliability, and professionalism.
The logo’s design conveys Droom’s commitment to providing customers with a seamless and trustworthy buying and selling experience.
The Startup Story
Droom is an online marketplace that started out as a platform for selling used automobiles in India. Since its inception in 2014, the company has expanded its services to include new vehicles, bikes, and scooters. It now offers a range of services such as vehicle pricing, inspections, financing, and insurance.
What sets Droom apart from other marketplaces is its use of cutting-edge technology to provide a seamless buying and selling experience for its customers. The company also offers value-added services such as a 121-point inspection for used vehicles and a buyer protection program to ensure customer satisfaction.
As of 2021, Droom has over 300,000 sellers and 45 million monthly visitors on its platform. Additionally, the company has expanded its services to include vehicle loans and insurance, making it a comprehensive one-stop shop for all automotive needs.
Business and Revenue Model
Droom’s business model is based on the online marketplace model. It connects buyers and sellers of new and used vehicles, bikes, and scooters through its platform.
Droom earns its revenue by charging a fee or commission on the transactions that take place on its platform.
The company also generates revenue from value-added services such as vehicle inspections, financing, and insurance.
Funding and Investors
This business has a solid plan, now there is another crucial factor that contributes to Droom.in’s success is its ability to raise capital.
The company has secured over $125 million in funding from prominent investors like Lightbox, Beenext, and Digital Garage. This funding has facilitated Droom’s expansion and increased its market share.
As of now, Droom has raised a total funding of $341M over 9 rounds.
| Date of funding | Funding Amount | Round Name | Investors |
| Jul 28, 2021 | $200M | Series G | 57 Stars, SeventTrain Ventures |
| Jun 20, 2019 | $10M | Series F | Information not available |
| Oct 04, 2018 | $30M | Series E | Joe Hirao |
Acquisitions
Droom has acquired Visiolab Ideas Pvt Ltd on Oct 1, 2020. The price for the acquisition is undisclosed by the company.
Awards
Droom has won several awards and accolades in recognition of its innovative approach and success in the automotive industry. Some notable awards include:
- ET NOW Global Awards for Retail Excellence 2021 – Best Automobile Marketplace
- Entrepreneur India Awards 2021 – E-commerce category winner
- Indian Digital Marketing Awards 2020 – Best Influencer Marketing Campaign
- CMO Asia Awards for Excellence in Branding & Marketing 2020 – Best Use of Technology in Marketing
- Golden Bridge Awards 2019 – Gold Winner in the Automotive/Transportation category
- Silicon India Startup City Awards 2018 – Startup of the Year (e-commerce)
- Drivers of Digital Awards 2017 – Best E-commerce Website for the Automotive Industry
Competitors
Droom faces tough competition from various players in the Indian online marketplace for automobiles like Cardekho, Cars24, BikeDekho, OLX Autos.
Social Media Presence
Droom has a strong presence on various social media platforms such as Facebook, Twitter, Instagram, LinkedIn, and YouTube.
Some common marketing strategies used on social media by Droom include influencer marketing, content marketing, and social media advertising.
Influencer marketing of Drroom involves partnering with social media influencers who have a large following to promote a brand or product. The company has over 303k followers on Instagram.
Their Social media advertising involves using paid ads to reach a larger audience on social media platforms.
The content they share on social media includes visually appealing graphics, videos, and blog posts related to the corporate industry also.
It is exciting bait for the followers. Isn’t it?
Future Plans
One of Droom’s primary goals is to further enhance its technology to provide an even more seamless buying and selling experience for its customers. The company plans to invest heavily in research and development to achieve this objective.
Droom also plans to expand its range of services to include more value-added offerings. The company has already added vehicle loans and insurance to its platform, and it aims to introduce more services in the future.
FAQs
What is Droom’s primary business?
Droom’s primary business is the buying and selling of new and used automobiles online. The company offers a wide range of services, including vehicle pricing, inspections, financing, and insurance.
What is Droom’s unique selling proposition?
Droom’s unique selling proposition is its innovative approach to the online marketplace. The company uses cutting-edge technology to provide a seamless buying and selling experience for its customers.
How has Droom grown since its inception?
The company has over 300,000 sellers and 45 million monthly visitors on its platform. Droom has also expanded its services to include vehicle loans and insurance, making it a one-stop shop for all automotive needs.
What sets Droom apart from its competitors?
Droom’s cutting-edge technology, value-added services, and commitment to customer satisfaction set it apart from its competitors. The company’s 121-point inspection for used vehicles, buyer protection program, and other value-added services provide customers with peace of mind when buying or selling a vehicle.
How has Droom been able to secure funding for its growth?
The company has raised over $125 million in funding from investors such as Lightbox, Beenext, and Digital Garage. As of now, Droom has raised a total funding of $341M over 9 rounds.