Tag: Sandeep Aggarwal

Used vehicle witnessed a surge in sales in first half of 2021 on Droom
Business

Used vehicle witnessed a surge in sales in first half of 2021 on Droom

Sep 15, 2021 by Rekha Nair 0 Comments #and CEO of Droom, #Founder, #Sandeep Aggarwal

Gurugram: Droom, India’s largest and pioneering online automobile transactional platform, today released its sales trend data for H1 CY 2021. Owing to the fact that personal mobility was the preferred mode of transportation due to the pandemic, Droom registered a significant growth in used 4W sales and also observed interesting trends in the 2W sales figure.

First half of calendar year 2021 trend showcased a jump in demand in the used four-wheeler category and a shift towards premium cars such as Maruti Suzuki Vitara Brezza, Baleno, Honda City and Hyundai Verna being the most popular vehicles. In the two-wheeler category, Bajaj Pulsar being the most popular vehicle followed by Honda Activa 3g and TVS Apache RTR. Kawasaki Ninja and Mercedes- Benz E class were the most popular luxury bikes and cars respectively in the luxury vehicle segment.

In the last 6 months, buyers registered a stronger preference for petrol variants than diesel cars. Further boosting the ‘Make in India’ initiative, India manufactured vehicles topped the charts followed by Japanese and Australian vehicle manufacturers.

Manual Transmission cars witnessed a huge edge over Automatic transmission majority of customers opted for manual over automatic. Droom trend report also highlighted that Delhi, Jaipur, Mumbai, and Hyderabad were the top markets with the maximum vehicle demand.

Commenting on the half yearly trend data, Sandeep Aggarwal, Founder, and CEO of Droom said, “We at Droom are committed to further boost and accelerate the digital adoption, enabling end to end online transaction of vehicles and revolutionizing the century old way of vehicle transactions in India through technology. 2021 was harsh on human life but business and industry showed resilience and realigned in the new normal. Quicker market recovery aided by increased demand for personal mobility for a variety of reasons including feasibility and safety. The pandemic also created an economic uncertainty for many people as a result of reduced income or job losses, which has boosted the adoption of used vehicles among consumers.”

Droom's Orange Book Value crosses 500 million pricing queries for used vehicles in India
Business World, News

Droom’s Orange Book Value crosses 500 million pricing queries for used vehicles in India

Jun 1, 2021 by Rekha Nair 0 Comments #Droom, #Founder and CEO, #OBV, #Orange Book Value, #Sandeep Aggarwal

New Delhi: – Owing to the tremendous response for Orange Book Value (OBV) in the market, Droom, India’s largest and pioneering AI-driven online automobile marketplace today announced the new milestone in continued success by Orange Book Value. With approx. 7 million queries received every month, OBV, is India’s second largest AI and Data science-based algorithm pricing engine for used vehicles, that has crossed the colossal figure of 500 million queries since its launch in 2016.

OBV is available in 38 countries, 7 currencies and 11 languages. It has been hailed as a game-changer in the used automobiles transactional sphere, covers a wide spectrum of vehicle categories in its evaluation base-including car, motorcycles, scooters, bicycles and planes – covering 80,000+ unique products from 100+ makes, 1000+ models, and 4000+ variants manufactured in the last 18 to 20 years. As per an OBV adoption survey, nearly 85% respondents claimed they relied completely and solely on OBV to determine the valuation of the vehicle to be purchased to sold.

Commenting on the exponentially rising popularity of OBV, Sandeep Aggarwal, Founder and CEO, Droom, said, “With India’s pre-owned automobile market showing an uptick and accelerating digital adoption, due to rapid urbanization, changing consumer needs and growing internet penetration, the figure of 500 million queries for OBV is an exciting milestone. OBV provides independent, objective and unbiased fair market value of any used vehicle and has reduced search time and search cost for used vehicles and has made buying and selling much easier. The pricing estimate carried out by OBV is the industry de facto standard now and is completely trusted by buyers, sellers, tens of thousands auto dealer and so many banks, NBFCs, and Insurance companies resulting in its immense popularity and adoption”.

He further added, “This success reflects the strong customer trust in the OBV and its emergence as defacto industry standard for used vehicle pricing is due to its independent, objective and unbiased methodology AI and data driven approach”.

The data collected from the 500 million queries received for OBV revealed certain interesting results. According to the data, the two-wheeler category surpasses the four-wheeler category in terms of pricing queries generated. With income rising rapidly and the price of a motorbike being relatively less, first-time buyers with no or small familial responsibilities generally opt for the same. Furthermore, youngsters are attracted to the latest bikes with a high-price range, hence they look to buy used versions of the same in a perfect working condition. The top two-wheeler brands searched included Hero, Honda, Bajaj and Royal Enfield topping the charts. As for four-wheelers, the top brands searched were Maruti Suzuki, Toyota, Mahindra and Hyundai. A major chunk of OBV’s users reside in metropolitan cities such as Bengaluru, which tops the charts of highest traction of OBV city wise. Following Bengaluru are Delhi, Mumbai and Gurugram.

Droom launches #Engage #Teamconnect Campaign for its Employees in association with Dream Girl Foundation: Droom Army Back to the Ground
Business World

Droom launches #Engage Campaign for its Employees in association with Dream Girl Foundation

Mar 4, 2021 by Rekha Nair 0 Comments #Droom, #Founder & CEO, #Sandeep Aggarwal

Gurugram, India: Droom, the largest online Automobile marketplace has unveiled a campaign named #Engage for Droom employees to promote more collaboration and engagement between different stakeholders and departments. Droom encourages employees to connect and collaborate still following the social distancing norms. These meetings will help employees thank people for all the help that they have extended to them to complete work in the COVID era and appreciate each-other efforts. The company operating with a 100% workforce (300+ employees) from Doom Headquarter in Gurugram.

Under the one-week campaign of #Engage, each employee can appreciate the unique qualities of their colleagues on specially designed postcards by Dream Girl Foundation, an NGO working for the upliftment of Girl Child. Droom employees will purchase the handmade postcards from the NGO team to thank each other for their best quality to be supportive during work from Home. Workstations will be full of colourful cards designed by these young girls and words of appreciation put in by colleagues.

The effects of Covid-19 have certainly forced organizations to change their workplace and have changed the way people work, and communicate with their colleagues and clients, but it has not really taken off in a big way as it is considered less productive and exhausting. People wanted to get back to their workplaces for a better outcome with better collaboration and with that Droom decided to perpetuate a common work culture between inter-departments.

Speaking on the campaign #Engage, Sandeep Aggarwal, Founder & CEO, Droom said, “Start-up culture like us is driven by energy and passion at Droom and we are just making sure that people interact and ideate face to face will bring back the energy on the floor. There is a massive need within employees to get back to a sense of pre-pandemic normalcy in their working life and allowed teams to engage in conversations, work on new ideas and connect back with the organization. Also, we need to understand that while cutting-edge technologies are taking over the world, but human intervention will undoubtedly be required. Technology isn’t replacing humans, rather, humans and technology must work together to achieve optimum results.”

Business World

Rupa Publications India is delighted to announce the virtual launch of “Fall Again, Rise Again” – the autobiography of Sandeep Aggarwal

Oct 1, 2020 by Gouri Achary 0 Comments #Fall Again, #Rise Again, #Rupa Publications India, #Sandeep Aggarwal

Rupa Publications India is delighted to announce the virtual launch of “Fall Again, Rise Again” – the autobiography of Sandeep Aggarwal – India’s most successful serial entrepreneur and founder of two unicorns start-ups ShopClues and Droom on Saturday, 10th October 2020 at 4: 00 PM. .

New Delhi September 2020: The event is expected to be the biggest ever virtual book launch, with 20,000 registrations already received and expected to cross 50,000. Budding entrepreneurs, students, corporate professionals, Bollywood celebrities, venture capitalists among others to join the event via various digital mediums.

ABOUT THE BOOK

Fall Again, Rise Again is an intimate and moving autobiography of one of India’s most successful start-up entrepreneurs.

If ever there was anyone whose life could be described as nothing but a roller-coaster, it is that of Sandeep Aggarwal. ‘Fall Again, Rise Again’ are words that sum up the entire life of the founder of two billion-dollar companies—Droom and ShopClues.

Sandeep’’s story is that of a  middle-class boy who could not speak English for much of his school life but dreamt to make it big someday. A young professional who went to the US and could not get a job but eventually became one of the most sought-after Wall Street analysts.

He achieved more success than he could imagine but gave up everything to return to   India to become an entrepreneur.

An entrepreneur who built one of India’s very few unicorns but was ousted from his own company. A dreamer who saw his dreams crushed by charges of insider trading in the US but rose like a phoenix to create yet another company.  An accused whose agonizing wait for a  final decision in his case continued for six long years but that did not stop a string of global investors from putting money into  Droom,  including  Japan’s Toyota  Group company.  A  man who finally ended up feeling vindicated when the US government dropped all criminal charges against him in February 2020 and the Securities and Exchange Commission settled all civil charges against him around the same time.

This is unlike any autobiography, especially among those written by people from the business world. Sandeep’s emotional strength and searing honesty will inspire and impact you in a way that is very, very rare.

Even during the worst possible time, that the world has ever seen, the book will put you on the path to learn the art of achieving success even after facing struggles and failures in life.

Read this book:

  1. If you want to learn the art of entrepreneurship.
  2. To realize that you need to keep moving regardless of success or failure.
  3. To ask yourself: When is the right time to start your own venture?
  4. To learn how to achieve success with Perseverance and Tenacity.
  5. To learn how to deal with failures and chaos.
  6. To accept the fact that life will keep jumping at you and keep saying, ‘Surprise!’
  7. To learn how to get rid of struggles and let everything just happen.
  8. To realize that results may be delayed, but never denied.
  9. To discover that the answer to all your troubles lies within you if you looking to step in the Startup Industry.
  10. Life is nothing but a roller coaster: You Fall Again and Rise Again.

ABOUT THE AUTHOR

SANDEEP AGGARWAL is a serial tech entrepreneur, philanthropist and angel investor. He is the founder of two unicorn e-commerce marketplaces in India—Droom and ShopClues. Before turning entrepreneur in 2011, Sandeep worked as a top-ranked Wall Street analyst and did pioneering research and analysis on Internet and tech giants such as Google, Amazon, Microsoft, Netflix, Priceline, etc. He has spent the last 20 years in Internet and technology industries in the US and India.

Sandeep has been actively promoting start-ups and entrepreneurship and is among the topmost contributors to India’s digital revolution. He is an MBA from Washington University in St. Louis and also holds a US patent in the technological domain.