Droom, an online marketplace for used and new vehicles, is the first to attract investments from Toyota in India
Sandeep Aggarwal certainly knows a thing or two about building million dollar companies.
After all, at 45, not many entrepreneurs can boast of having built one successful startup—a company worth over $1 billion—before leaving it to build another. Aggarwal is the co-founder of ShopClues, India’s fifth unicorn, and Droom Technologies, which, in recent times, has become a darling among investors.
This May, the Gurugram headquartered Droom, raised $30 million in an investment round led by the world’s second-largest automobile manufacturer, Toyota, and Tokyo-based venture capital investor Digital Garage, which values the three-year-old venture between $550 million and $700 million. The investment by Toyota is the first such in India by the Japanese carmaker.
“We were impressed that Droom has rapidly established its position as the largest online marketplace to buy and sell automobiles in India,” Toyota said at the time of investment. “Droom and we share the same vision, which is bringing trust and transparency to the transactions of automobiles.”
In all, Droom—an online platform that connects sellers and buyers of used cars, new vehicles, motorcycles, and even aircraft—has raised $95 million from investors, including Lightbox, Beenos, and Beenext. So far, the company has reportedly generated close to $700 million in gross revenue and $15 million in net revenue, and claims to connect over 2.5 lakh auto dealers in more than 500 cities across India.
Denne historien er fra June 22, 2018-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 22, 2018-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
