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<ul><li>Indian automobile marketplace <keyword id="2947589" type="PERSON" weightage="20" keywordseo="Droom">Droom</keyword> has partnered with Fast &amp; Furious: <keyword id="7271280" type="UNKNOWN" weightage="20" keywordseo="Hobbs-Shaw">Hobbs &amp; Shaw</keyword>. </li><li>The startup is the official motorplace partner for the movie, which is synonymous with fancy cars. </li><li>Droom is raising $250 mn to enter the unicorn club and plans to be listed on NASDAQ by 2021.</li></ul>Indian automobile marketplace Droom is the official partner for the new Fast &amp; Furious: Hobbs &amp; Shaw movie. Droom is the official motorplace partner for the movie. The startup is also holding a special screening for the movie in Delhi as a part of the partnership. Fast &amp; Furious: Hobbs &amp; Shaw is a spin off from the famous Fast &amp; Furious franchise. The movie stars Dwayne Johnson, Jason Statham and Idris Elba among others. The franchise is known for its glamorous bikes and cars, and the plot lines tend to center around heists and races. “Universal approached us for the partnership and we decided to go ahead with it because Droom’s brand image is synonymous with glamorous and adventurous which aligns with Fast &amp; Furious. The movie apart from its fancy cars and glam, has an underlying story which shows bond and trust, which is again what Droom gives with its certified cars,” said Nikhil Arora, VP- Marketing, Droom told Business Insider India. Droom had earlier also partnered with one of India’s longest running reality shows – MTV Roadies. The startup has raised $125million in six rounds of capital so far and is planning to raise $250 million which will give the startup a unicorn status. Droom also plans to list on NASDAQ in the next two years. The company is currently nets as much as $1.3 billion in gross merchandise value (GMV), and its revenues stand at $35 million.

Droom goes Fast & Furious with marketing ahead of a US IPO

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> believes this allocation will reward Ola’s ‘high impact’ employees. </li><li>The company claims to have seen a strong recovery in its ride hailing business. </li><li>Earlier this month, Ola raised $500 million in a pre-IPO round.</li></ul>Ride hailing giant Ola has expanded its employee stock option plan (<keyword id="120103" type="PERSON" weightage="20" keywordseo="Esop">ESOP</keyword>) pool to ₹3,000 crore. It has also allotted an additional ₹400 crore worth stock to employees ahead of its initial public offering (IPO), the company said in a press statement on Wednesday. ESOPs are employee benefit plans to offer employees a limited number of shares in the company. The company believes that this allocation will reward Ola’s high impact employees and lead to a long-term wealth creation for them. “Our expanded ESOP programme, along with the fresh stock allocation of ₹400 crore, enables our key talent to participate in the long term wealth creation opportunities generated by their innovations and the impact they create. It will also reinforce their sense of ownership and align their growth with that of the company as we continue to accelerate the world’s transition to sustainable mobility” said Bhavish Aggarwal, Ola’s cofounder and chief executive. Ola, in its press note, also highlighted that the company has seen strong recovery in its ride hailing business over the last several months. The company was severely hit by the first wave of COVID-19, as its revenue declined by 95% in April-May 2020. This led to layoffs in the company, impacting over<a href="https://www.businessinsider.in/business/startups/news/ola-fired-1400-employees-as-revenue-is-hit-by-95-in-the-last-two-months/articleshow/75843656.cms"> 1,400</a> employees in May 2020. The Bengaluru-based startup got the wheels for its IPO rolling earlier this month, when it raised <a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms">$500 million from investment titans</a> Temasek and Warburg Pincus in a pre-IPO round. The company’s chief executive Aggarwal also infused an undisclosed amount in the startup in his personal capacity. The company was founded in 2010 by Aggarwal and Ankit Bhati. It has marked its presence across three continents. It has raised $4 billion to date from marquee investors like SoftBank, Tencent, Steadview Capital, Eternal, Sailing Capital, China Eurasian Economic Cooperation Fund and others. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms" data-type="tilCustomLink" style="">Automobile marketplace Droom is raising $200 million in a pre-IPO round at unicorn valuation</a> <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms" style="">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories</a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms" style="">Rolex Rings IPO opens today with a price band of ₹880-900</a>

Ola expands ESOP pool to ₹3,000 crore, issues stock worth ₹400 crore to employees

New Delhi, Feb 19 () Automobile marketplace Droom on Wednesday said the company is confident of hitting profit by the end of this year, and said it plans to raise about USD 150 million before it launches an initial public offering (IPO) in 2021. Droom clocked a gross merchandise value of USD 1.2 billion on its platform with a net revenue of USD 32 million in 2019. Its platform processed over 6.1 lakh orders last year. "The plan has always been to take the IPO route and we have considered four options (Mumbai, US, Singapore and Hong Kong) and it will most probably be NASDAQ in the US. We appointed KPMG and Grant Thornton as auditors and also roped in Credit Suisse that is likely to take us to IPO as well," Droom founder and CEO Sandeep Aggarwal told . He added that the company will raise one more round of "pre-IPO" funding of about USD 150 million this year. Aggarwal said given that the US Department of Justice (DoJ) has dropped all charges against him pertaining to a previous insider trading case, there should be no issues with listing Droom in the US. The CEO said a civil settlement has been reached with the US Securities and Exchange Commission (SEC), while the US DoJ has dropped all charges against him pertaining to the case. He had been charged by the DOJ and sued by the SEC in July 2013, relating to events that took place in July 2009, when Aggarwal was a Wall Street analyst. "Both the matters have been resolved. The charges by DOJ have been dropped and dismissed. A civil penalty of USD 32,500 was levied by SEC, which I have paid. The bar on being associated with any investment advisor, broker and securities analysis -- which I quit long ago -- continues," Aggarwal said. Aggarwal, who founded Droom in April 2014, said the company is focussing on keeping its cash burn low and is confident of hitting profit by the end of the year. "Our cash burn is low. Unless we make some big investments that have not already been baked into estimates, we should be profitable by November this year," he said. He added that Droom expects to clock a gross merchandise value of about USD 3 billion and a net revenue of USD 120 million in 2021. The company has so far raised close to USD 125 million over six rounds of funding from investors like Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management. SR HRS

Droom aims to hit profit by year-end, to raise USD 150 mn before IPO

RateGain, Shriram, MapmyIndia and more — Check out the important dates of these upcoming IPOs and their grey market premiums

New Delhi, Feb 23 () Online automobile marketplace Droom will pump in about USD 100 million (about Rs 718 crore) this year towards further strengthening its technology offerings, marketing and new initiatives, its founder and CEO Sandeep Aggarwal said. The company, which aims to touch USD 120 million (about Rs 862 crore) in net revenue by 2021, is also looking at expanding its international operations to six new markets including Indonesia, Vietnam and the UAE this year. "We have earmarked a capex (capital expenditure) of about USD 100 million this year. Of this, about USD 50 million will be towards marketing and promotion, USD 30 million for headcount and technology and roughly USD 20 million for new initiatives," Aggarwal told . He added that the company has been working on keeping its cash burn low and is hopeful of also hitting profits by the end of the year. Aggarwal said the company has already established presence in three international markets and is looking at growing that further this year. Droom is looking at Indonesia, Philippines and Vietnam in Southeast Asia and the UAE, Oman and Saudi Arabia in the Middle East. "While we are aggressively expanding our international presence, we are also deepening our presence within the India market as we believe this will continue to be the mainstay of our business. Less than 10 per cent of our revenues will come from international operations," he said. The company also plans to raise about USD 150 million before it launches an initial public offering (IPO) in 2021. It has so far raised close to USD 125 million in six rounds of funding from investors like Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and Integrated Assets Management. Droom had clocked a gross merchandise value of USD 1.2 billion on its platform with a net revenue of USD 32 million in 2019. Its platform processed over 6.1 lakh orders last year. SR HRS

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