Droom aims to hit profits, Rs 200 cr revenue in 2018

Online automobile e-commerce platform Droom today said it is confident of becoming profitable and hitting Rs 200 crore-revenue mark next year.
"We have brought down our burn rate significantly, it is now around Rs 10 crore a month... If we don't re-invest back some of the benefits that we have been seeing, we will become EBIDTA positive in the first half of 2018 itself. If we do (re-invest), it will be the second half," Droom founder and CEO Sandeep Aggarwal told PTI.
He added that he also expects the company's annual revenue run rate to touch Rs 200 crore, up from about Rs 90 crore now.

Droom had raised USD 20 million (nearly Rs 130 crore) in a round led by Integrated Asset Management (IAM) earlier this year. With funding from investors like Lightbox, Beenos, Digital Garage and Beenext, Droom has so far raised USD 65 million.
The company, which competes with the likes of Cars24 and Quikr, is also hopeful of going for a initial public offering (IPO) in the second half of 2019.
Droom today announced the launch of 'Droom Discovery', a product that allows prospective cars/two-wheeler buyers to search for options using criteria like brands, model etc. It will provide details of the vehicle, along with expert views, price and EMI calculator to help in the decision making process.

"We are working on many more products. There are a lot of gaps in the market, it is underpenetrated and we expect to see huge growth in it in the coming days," he said.