Droom, the used-car marketplace, is planning to expand to 100 cities within the next month. The company, its founder claimed, has been ahead of schedule in revenue generation and said it was a natural progression.
“We are the biggest used-car transaction platform in India and we want to continue the dominance,” said Sandeep Aggarwal, founder and CEO, Droom.
The company recorded revenue of Rs 36 crore in December 2015 with Rs 32 crore coming from the National Capital Region alone. “If we can generate so much interest in Delhi among the immense competition that exists in the city, we can get some more in other parts of the city. This was the thinking when we decided to plan our expansion,” Aggarwal said. The company takes a commission of about 2-5% per transaction.
“We expect to hit Rs 250 crore GMV by the end of this financial year and I think we are on track,” said Aggarwal.
$500,000 last year. This segment could well be the next big thing in India.