Droom, an online automobile transactional marketplace, released its annual progress report for calendar year 2016.
The report compared the key business metrics from 2016 with the corresponding data from 2015 the company has achieved over the past one year.
The company significantly outperformed all industry benchmark growth numbers, for example, new vehicles grew 9 percent Y/Y and used vehicles grew 15 percent Y/Y and Droom outperformed the overall market by 66 times for new vehicles and 40 times for used vehicles.
At the same time, the country's e-Commerce sector grew by 40 percent Y/Y in 2016 and Droom grew 15 times faster than the overall e-Commerce industry at the same time. With this kind of spectacular growth and strong fundamental, Droom has risen to be the 5th largest e-Commerce company in India in terms of GMV and first e-Commerce company in terms of growth.
Commenting on the performance, Sandeep Aggarwal, Founder and CEO, Droom, said, "In a year that saw several ups and downs, Droom's continued growth on an exponential curve is fascinating to say the least. Reporting a growth rate 15 times higher than that managed by the overall e-commerce industry and raising a landmark Series B investment from renowned investors such as Lightbox, BEENEXT and Digital Garage is a testament of how robust the company fundamentally is. We aim to build upon this strong showing and continue driving massive growth for our platform through our value-driven, consumer-centric offerings."
Orders placed through the platform grew by 507 percent, from 8,232 units in 2015 to 49,974 units by the end of 2016. The transacted GMV on the platform also grew by 533 percent, soaring from INR 155 crore in 2015 to INR 1,000 crore in 2016. The overall traffic on Droom also grew by 307 percent year-on-year, increasing from 12.5 million page visits in 2015 to almost 51 million in 2016 which makes Droom the third largest Facebook community in the e-commerce industry.
Droom also launched the unique applications in 2016 such as Orange Book Value in 2016, which again has been immensely popular amongst consumers and has generated more than 94 million pricing queries and about 4 million in traffic till date.
Droom is expected to touch net annual revenues to the tune of INR 60-75 crore by March 2017 with an annualized GMV in the range of INR 2,500-3,000 crore. The company is targeting annualised GMV of INR 4500-5000 crore and net annual revenues of INR 125-150 crore by December 2017.
Disclaimer: No Business Standard Journalist was involved in creation of this content
