Droom clocks gmv of rs 104 crore; launches month-long auto festival – the economic times search engine optimization techniques pdf
NEW DELHI: Online marketplace for used automobiles and auto services Droom has said it will spend Rs 10 crore towards marketing, as it launches a month-long auto festival, even as India’s festive season kicks off in earnest.
The announcement also comes days after the Gurgaon-based company it had clocked monthly gross merchandise value (GMV) of Rs 104 crore over the last 19 months.
“Droom is currently receiving 5,000 orders a month, which includes vehicle purchase and automobile-related services. Internet marketing job description With Dhanteras and other auspicious occasions just around the corner, we expect to drive consumer demand by 30 per cent-35 per cent this month,” said Rishab Malik, co-founder and vice president – Business Development, Droom, in an official statement.
According to the company-issued press release,
the company has allocated a total of Rs 100 crore towards marketing for the current fiscal.”With the rise in disposable income, we have seen the demand of vehicles in every household is increasing. Web wikipedia Consumers want more for less and increasingly prefer pre-owned vehicles over new vehicles, as it allows them to purchase a premium vehicle within the same price range,” Malik said.
According tot he press release, among the offers up for grabs in its Grand Auto Sale, the first of four back-to-back sales, the company is offering an Android phone and shopping coupons from ShopClues on select purchases, while all vehicles bought under this offer will also come with an offer of 50 per cent off on roadside services assistance.
Earlier this week, Droom, which counts investors, such as, venture capital firm Lightbox, Singapore-based investor Beenext, founded by former Beenos founder and chief executive Teruhide Sato, and Japanese incubator and venture capital firm Digital Garage, had said that it has registered over Rs 1,200 crore in annualised GMV, and was targeting annualised GMV of Rs 3,000 crore by March 2017.
It also expects to touch annualised GMV of Rs 5,000 crore by December next year.”At a time when the auto industry has witnessed new vehicle sales improve by 9 per cent Y-O-Y and used-vehicle segment pick up by 15 per cent Y-O-Y while the e-commerce companies register a growth rate of 35 per cent Y-O-Y, Droom has been able to 700 per cent Y-O-Y growth,” said Sandeep Aggarwal, chief executive of Droom.
Founded in 2014 by Aggarwal, who had previously founded ecommerce marketplace ShopClues, and Malik, the startup competes with other venture and private equity-backed auto classifieds portals, CarTrade.com and CarDekho.com.
It also competes with the likes of Naspers-owned OLX and Quikr.In June earlier this year, Droom closed an Rs 200 crore funding round, which is believed to have valued the company at between $210 million-$240 million.
The latest round also saw the entry of Hong Kong-based investment company, Integrated Asset Management (IAC), on to its investor cap table. Best internet marketing company in india IAC, in 2014, had led the buyout of media conglomerate Forbes Group.