Droom Malaysia hit the 1 million-unique-monthly-visitors-mark in February — just four months after its inception. The company’s Singapore’s site has seen more than 500,000 users since launching in December.
These plans were given a boost last year when Droom established a business agreement with Japanese manufacturer Toyota Tsosho. The deal gives the site access to Toyota’s dealer network, inventory, and leadership for its expansion across Southeast Asia. This followed Series D and Series E funding rounds that brought in a total of $60 million U.S. in 2018.
Droom founder and CEO Sandeep Aggarwal predicts that the new Malaysian site will hit monthly traffic of 3.5 to 5 million visitors by the end of this year. He also expects the site in Singapore to exceed 1.5 million monthly visitors by the end of 2019.
The start-up’s GMV currently stands at $1.1 billion with net revenue of $25 million. Aggarwal hopes Droom will achieve $2 billion in GMV and earn $50 million net revenue by the end of 2019. The new sites in Singapore and Malaysia are expected to contribute 5 percent of total revenue.