New Delhi: Further bolstering its leadership stance as one of India’s most outstanding and innovative ventures, Droom, the country’s pioneering online automobile transactional marketplace has made it into the 2016 Red Herring Top 100 Asia award Winners’ list. The awards are declared in recognition of the leading private companies from the region, celebrating the innovations and technologies of start-ups in Asia across their respective industries. Droom has been recognized for its thrust on leveraging technology and data science that has helped it create a disruptive marketplace approach. It has brought in tremendous trust, transparency and convenience into the way Indians buy and sell pre-owned automobiles. After having proved its sustainability, the company has also recently ventured into the new vehicles’ segment to build on its stellar success.
Commenting on the achievement, Sandeep Aggarwal, Founder and CEO, Droom said, “It is a moment of great pride for all of us at Droom to have been named as one of the 2016 Red Herring Top 100 Asia award winners. Given the extensive evaluation criteria on the basis of which we have been selected, the news comes as a great boost to our motivation. It further validates our efforts across the denominators of business success and propels us to fulfill our vision of making Droom a global phenomenon.”
“In 2016, selecting the top achievers was difficult as always,” said Alex Vieux, publisher and CEO of Red Herring. “The variety, depth, disruption and traction we saw from the early stage companies to those with significant scale made 2016 a great vintage to judge. The Asia winners are representative of the amazing ecosystem that never ceases to astound, with new and experienced entrepreneurs continuing to push the barriers of innovation. As one of the winners, Droom should be proud of its accomplishment.”
Each year, Red Herring Top 100 Asia Awards enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2,000 privately-financed companies each in the Asian region. Since 1996, Red Herring has kept tabs on the upcoming organizations and its editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Red Herring’s editorial staff evaluated companies on both quantitative and qualitative criteria, such as financial performance, technological innovation and intellectual property, DNA of the founders, business model, customer footprint and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Asia.
Red Herring is a global media company, which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums, including print, online and exclusive events worldwide. Red Herring provides an insider’s view and access to the global innovation economy, identifying new and innovative technology companies and entrepreneurs.