Created by the Co-Founder of ShopClues, and funded by one of the biggest Automaker, Toyota, Droom has immediately created an impact on the Indian E-commerce industry and it is on its way to create a dent on the world map. We have Maitri Panchal discussing the evolution, current plans, and future of Droom with its cofounder Sandeep Aggarwal.
ex: Droom has captured the attention of investors all across the world, what is it about Droom that has created its mark?
SANDEEP AGGARWAL: Droom is India’s largest marketplace to buy and sell used and new automobiles, we enable end to end transaction platform. Currently, we are the largest auto portal with almost 70 percent of the market share. We, at our current size are not only the largest auto portal, we are also the third largest e-commerce company in India after Amazon and Flipkart. And besides our marketplace, we provide more automobile services, certification services and financial services. We have 2,30,000 auto dealers on our platform, making us 10 times larger than any other company or any other business model in this category. We get 31 million monthly visitors and we are present in 500 cities making us the largest hyperlocal marketplace. We are a Singapore holding company with a subsidiary in India and so far we have reached $95 million in six rounds of capital.
ex: What was the key idea that inspired you to start Droom?
India is the third largest automobile market in the world. From the time Henry Ford invented assembly line, the cars have become very advanced but that is not the case when it comes to buying and selling a vehicle. Unlike the US, India is a low trust market. We thought wouldn’t it be nice to come out with a marketplace and hence we started working on Droom.
ex: What are the challenges that you had to face when you started Droom?
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