Droom aims at Rs 3,000 cr GMV

Droom aims at Rs 3,000 cr GMV

Online automobile marketplace Droom is planning to more than quadraple its gross merchandise volume (GMV) within the next one year, according to a top company executive.

“Our current GMV is Rs 700 crore, out of which Rs 550 crore is from the national capital region (NCR). Our aim is to reach Rs 3,000 crore GMV by March 2017,” Droom founder and chief executive officer Sandeep Aggarwal told Deccan Herald.

The company is gross margin positive from the day when we started, and our aim is to achieve breakeven from a cashflow perspective by the fourth quarter of calendar year 2017, Aggarwal added.

Droom is India’s first online marketplace for buying and selling automobiles, including cars, bikes, scooters, superbikes, supercars, vintage cars, vintage scooters, bicycles and so on. Founded in April 2014, the fully transactional platform also sells a number of automobile services including car care and detailing, auto inspection, roadside assistance, warranty, and insurance listed by third party vendors. It is a Singapore holding company with offices in Silicon Valley, USA and Gurgaon, India. Droom has grown 125 times since commercial launch four months ago, with a team size of 73 people under its aegis.

Droom, which had recently raised Rs 100 crore from Lightbox Ventures and Japan’s Beenos is looking at another round of fund raising besides looking at acquisitions to expand its offering.

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