Droom, an online automobile transactional marketplace, has announced that it has amassed a monthly gross merchandise value (GMV) of INR 104 crore – in a span of 19 months.
The company had registered over INR 1,200 crore in annualised GMV, with plans to achieve INR 3,000 crore by March 2017 and estimating a colossal growth to the tune of INR 5,000 crore by December 2017. Sandeep Aggarwal, Founder and CEO, Droom said, “At a time when the auto industry has witnessed new vehicle sales improve by 9% Y-O-Y and used-vehicle segment pick up by 15% Y-O-Y while the e-commerce companies register a growth rate of 35% Y-O-Y, Droom has been able to 700% Y-O-Y growth.
Reporting a 30% month-on-month growth, Droom had crossed the 100 crore barrier by generating a INR 104 crore GMV, or $17.3 million, at a constant currency exchange rate of INR 60/USD.
