We are no longer unfamiliar with the concept of buying and selling automobiles online. But it was a big deal back then. Remember those days when people used to hesitate while buying second-hand cars? This lack of trust amongst the buyers and sellers was a major hurdle in the used-car marketplace. In an attempt to change the dimensions of the automobile business, the online platform Droom was created.Founded in 2014, Droom is an online transactional platform that provides a 21st-century experience in buying and selling used and new vehicles in India.
In this blog, we will tell you everything about Droom’s success story and how did its founders achieve this platform.
How Did It Begin?
Years before the launch of Droom, its founder, Sandeep Aggarwal had already established himself as a brainy entrepreneur. The Washington University Graduate found solace in the business world and even worked closely with various multinational companies. So, what made him shift towards an online used-car selling business? Curious to know?
Well, it is interesting to note that Sandeep started Droom after he was hit by a personal crisis in 2013 which left his professional life crippled. The Chandigarh-born businessman embarked on his entrepreneurial journey in 2011 when he joined Shopclues. The company witnessed a massive success and also earned the coveted unicorn status.
However, things took an ugly turn for Sandeep in 2013 when he had to face some serious allegations of insider trading. As a result, Aggarwal’s career was being put into jeopardy. The entrepreneur left his previous life behind and dwelled on his true calling. Eventually, the young graduate established Droom in 2014 along with a fellow comrade Rishabh Malik.
The company was started with an aim to fix the problem of trust in the online used-car industry. Apparently, the idea worked well for the founders as within a year of Droom’s inception in the market, the company was dealing in used cars and two-wheelers across 100 cities of India.
Success Of Droom
The Delhi-based startup, which started off as a mere online platform for buying and selling used cars, went on to become the biggest automobile giant in India with a valuation of $2.1 billion. However, this is only the tip of the iceberg for this unicorn as it is planning to expand further. As of now, Droom has presence in 1000+ cities across India, and boasts of more than 350K auto dealers. It is one of the largest auto dealer platforms in our country.
Achievements and Milestones
Droom has had an intriguing journey so far. The company has established itself as a pioneer in the automobile field by winning numerous awards for its business model. In 2017, Droom was named ‘Best Creative Advertising’ at the exchange4media Primetime Award. Not only this, the team of Sandeep Aggarwal also bagged silver and bronze at the Magzimise Awards that same year. Droom was named the Asian Super Startup of the Year by netizens worldwide in 2018, in addition to receiving the coveted Effie Awards.