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India's latest unicorn is prepping for an IPO now

<keyword id="2947589" type="General" weightage="100" keywordseo="droom" source="Orion">Droom</keyword>, <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s leading automobile e-commerce platform, which provides the largest selection of automobiles with over 1.4mn+ vehicles listed, has released its annual 'India Automobile Ecommerce Report' reports for Calendar Year (CY) 2022. As per the report, the SUV segment topped the chart in 4-wheelers and Hyundai Creta continued to be the most preferred choice followed by Kia Seltos which made its way up the list quickly becoming the new favourite among buyers. They were followed by Maruti <keyword id="5894046" type="General" weightage="50" keywordseo="suzuki-vitara-brezza" source="Orion">Suzuki Vitara Brezza</keyword>, Toyota <keyword id="3231108" type="General" weightage="50" keywordseo="innova-crysta" source="Orion">Innova Crysta</keyword> and Toyota Fortuner. Bajaj Pulsar emerged as the top preference in 2-wheelers followed by Hero Splendor Plus, Bajaj Pulsar NS, TVS Apache RTR, and Honda CB Shine. In the luxury vehicle segment, the Mercedes Benz E-Class became the most preferred luxury car followed by Jeep Compass, Mercedes Benz C Class and BMW5 Series whereas, in the 2-wheeler segment, Royal Enfield Interceptor came up in ranks and became a hot favourite followed by Harley Davidson Street 750 and <keyword id="480564" type="General" weightage="50" keywordseo="kawasaki-ninja" source="Orion">Kawasaki Ninja</keyword> ZX-10R. The share of an automatic transmission is on a steady rise from CY 2015 when it was 23 per cent to 33 per cent in CY 2022, up from 30 per cent in CY 2021 because of convenience and higher fuel efficiency and EV penetration continues to remain stagnant at 1 per cent of total vehicle sales across categories in India. The share of diesel vehicles fell from 60 per cent in CY21 to 53 per cent in CY22 due to the vehicle scrappage policy barring diesel vehicles older than 10 years from plying on the streets Premiumization is a trend in India heightened by Droom's pure-play e-commerce model, resulting in the average selling price for cars standing at 11.98 lakh and bikes being 55 thousand. This is primarily because physically branded dealers tend to focus only on mass-market whereas Droom caters to mass, mid, premium and luxury segment. Commenting on Droom's annual automobile trend report CY 2022, Sandeep Aggarwal, Founder and CEO, Droom said, "The automobile trend report of 2022 shows steady growth in the overall automobile market. The report indicates an increasing acceptance towards online automobile buying and this will only grow in the coming years. There is also a gradual but steady adoption of electric vehicles which will expand in the coming future." He further added, "Droom has been disrupting and redefining the age-old traditional automobile retailing through its innovative and asset-light ecommerce model. Our technology-driven integrated ecosystem of services has made selling and buying of automobile quick and easy. Droom is one of the largest transactional platforms that compiles data and findings and presents insightful and interesting analysis reports." With a pure-play e-commerce, asset-light, and technology-oriented business model, Droom has a presence in 1174 cities. The platform has seen significant growth in online buying with Delhi, Bangalore, Jaipur, and Hyderabad emerging as the largest markets for online transaction in CY2022. While online automobile selling and buying is prevalent in metro cities, the trend is also catching onto other cities like Bhiwani, Sangli, Ajmer, Sirsa, Gurgaon, Faridabad, Surat and Ghaziabad. The love for white color cars among customers is evident since it is the preferred choice since 2015. Droom offers a 21st-century E-Commerce experience for automobiles. Droom offers India's largest selection of automobiles with over 1.4 million vehicles listed online in 1,174 cities -- both used &amp; new, cars &amp; 2-wheelers, and other vehicles too. For buyers, Droom offers India's finest automobile buying experience online with trust, selection, low price, and convenience second to none. Droom is the market leader in the automobile e-commerce segment and since its inception, Droom has sold over 566K vehicles and served over 2.5 million happy customers with its products and services. Droom is among the most trusted consumer internet brands in India often recognized for its innovative approach and technology and is backed by marquee global investors including Lightbox, Digital Garage, Toyota Group, Recruit, Beenext, Beenos, 57 Stars and many multibillion-dollar family offices in SE Asia and Hong Kong. Droom was founded by Sandeep Aggarwal, the only tech entrepreneur in India who has funded two Unicorns back-to-back (ShopClues and Droom) and is a Singapore Holding Company with its subsidiaries in India and the United States. The company is headquartered in Gurugram, India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/vr-app-allows-users-to-revisit-memories-previously-recorded-on-their-smartphones/articleshow/98275527.cms">This app is straight out of Black Mirror — it lets you capture and revisit memories in virtual reality</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/google-pixel-7-long-term-review-a-premium-camera-centric-device-with-some-caveats/articleshow/98274785.cms">Google Pixel 7 long term review – a premium camera centric device with some caveats</a>

Hyundai Creta, Bajaj Pulsar emerge as the most popular car and bike: Droom report

Three unicorns, hundreds of crore in loss and very little market share — What's the hype around online car retailers?

Strong acceptance of e-commerce and digitisation is expected to accelerate the growth of India's auto sector, advisory firm Grant Thornton Bharat said. Accordingly, India's automobile market is estimated to grow more than '2.3X' from $222 billion currently to $512 billion by 2026. Notably, the analysis by Allied Market Research, Market Line, <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> and Grant Thornton Bharat showed that e-commerce portals focused on the automobile market, such as <keyword id="2947589" type="PERSON" weightage="20" keywordseo="Droom">Droom</keyword>, <keyword id="1945738" type="PERSON" weightage="20" keywordseo="Cardekho">Cardekho</keyword>, <keyword id="11077358" type="UNKNOWN" weightage="20" keywordseo="and-olx">and Olx</keyword> have put consumers and the user experience in the spotlight helping the manufacturers attract more users. Besides, the growing base of internet and smartphone users will further boost the digital transformation, and lead to an <keyword id="6374534" type="UNKNOWN" weightage="20" keywordseo="increase">increase</keyword> in expanding the market size of the e-commerce portals. "The strong emergence and acceptance of the online channel have provided an impetus to seamless solutions, price discovery, transparency, digital real-time payments along with certification on the quality of the vehicle for the consumers in the auto sector," said Rahul Kapur, Partner, Growth at Grant Thornton Bharat. According to the analysis report, since last year, Maruti Suzuki saw a five-fold increase in <keyword id="6357824" type="UNKNOWN" weightage="20" keywordseo="sales">sales</keyword> through digital means which now stand at 20 per cent of their total sales. "These changes in consumer's buying and research preferences signal a shift for the auto sector, as Covid19 played a big part in the online channel gaining traction." "Technology-enabled innovations like secure digital payments, hyper-logical logistics, analytics-driven customer engagement, increasing consumer awareness and digital advertisements are likely to support the growth going forward." As per the report, other factors such as rising middle class and young population with increasing disposable incomes will contribute towards growing the sector. Furthermore, ease of owning a vehicle through the availability of multiple financing options as well as reduction in vehicle ownership tenure due to regulatory rules in some states, cited the report as other growth inducing factors. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nokia-x20-specifications-nokia-new-phones-price-in-india/articleshow/81981039.cms">Six new Nokia smartphones announced – price, specifications and availability details you should know</a> <a href="https://www.businessinsider.in/business/startups/news/founders-take-note-heres-why-most-startups-fail/articleshow/81981138.cms">Founders, take note: here’s why most startups fail</a> <a href="https://www.businessinsider.in/tech/apps/news/google-phone-app-now-lets-you-record-calls-automatically-from-unknown-numbers/articleshow/81982791.cms">Google Phone app now lets you record calls automatically from unknown numbers</a> <a href="https://www.businessinsider.in/business/startups/news/adar-poonawalla-serum-institute-of-india-has-bought-stake-policybazaar/articleshow/81985425.cms">Serum Institute of India buys into IPO-bound insurance unicorn PolicyBazaar, as True North sells part stake in secondary sale</a>

E-commerce and digitisation to accelerate India's auto sector growth, says report

<ul><li>The used car retailing company will be recruiting 5,000 people by the end of next year 2022.</li><li>The company will be hiring from management trainees to senior managers across the tech, product, marketing and operations segments.</li><li><keyword id="366851" type="General" weightage="20" keywordseo="Spinny" source="Orion">Spinny</keyword> hired most of the current employees in the month of October this year.</li></ul>Spinny, which is a used car marketplace, is looking to hire 5,000 individuals by the end of 2022 to expand its footprint in the Indian market and take on tough competition coming from Cars24, Droom and others. The company plans to nearly double its workforce from 4,000 to 9,000 people. The company has vacancies across multiple jobs roles like management trainees to senior managers across the tech, product, marketing and operations segments. The announcement comes only a few days after it raised<a href="https://www.businessinsider.in/business/startups/news/spinny-is-the-latest-used-car-platform-to-join-cars24-droom-and-cardekho-in-unicorn-club/articleshow/88140551.cms"> $283 million funding from marquee investors</a> like Abu Dhabi-based ADQ, Tiger Global, Avenir Growth and others. The company was valued at $1.8 billion in this funding round, making its entry into the <keyword id="3009432" type="General" weightage="20" keywordseo="unicorn-club" source="Orion">unicorn club</keyword>. A part of that funding will be used to fund Spinny’s hiring plan. “Every new member of squad Spinny- and more driven individuals will join their ranks in 2022, know their role - to continue to build up this hard-earned trust,” said Niraj Singh, founder and chief executive officer (CEO) of Spinny. The used car platform hired most of its employees in the month of October this year, the company highlighted in a press release. According to their human resource data, 61% of their current employees are working from north India, 20% from south India and 19% from the west side of the country. Spinny was founded in 2015 by Niraj Singh, Mohit Gupta, Ramashu Mahaur and Ganesh Pawar. The company operates across the entire value chain of pre-owned cars, embedding superior technology and processes to deliver a premium experience to customers. The company has raised more than $530 million to date. On December 14, the company also announced its partnership with the cricket icon Sachin Tendulkar, who is the strategic investor in the company as well as lead brand endorser. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/these-countries-have-less-than-5-days-work-week-and-india-may-join-the-list-soon/slidelist/88448480.cms">These countries have less than 5 days work week and India may join the list soon</a>

Used car selling platform Spinny to hire over 5,000 people by the end of 2022

<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 class="summary-list"><li><keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword> minted four used-car unicorns between November 2020 and November 2021.</li><li>A growing middle class and the rise of the millennial generation is driving the sector's growth.</li></ul>Ram Goswami bought a five-year-old Nissan Terrano last year after getting rid of his sedan. He'd owned the sedan for over a decade, but increasing maintenance costs and repairs started to pinch Goswami's pockets. The marketing professional, who's based in Delhi, purchased the SUV for ₹350,000 ($4,662) — less than half its market price."I preferred a used car over a new car since I'm getting a good deal," Goswami, 37, told Insider."If someone has enough money and doesn't need a loan, then he can go for a new car. But <keyword id="11939507" type="UNKNOWN" weightage="60" keywordseo="used-cars" source="Orion">used cars</keyword> are a blessing for people like me," Goswami added.Niroop Rajan, a techie from Bangalore, picked up a 10-year-old BMW luxury sedan last year for ₹700,000 ($9,318). It's his first car, and for him, owning a car is a status symbol."The emotion I felt from driving my parents in my car for the first time was overwhelming. It doesn't matter if it's a used one. I was overjoyed," Rajan, 31, said.While the two millennials live two thousand kilometers apart, Goswami and Rajan are part of a massive churn in India's automobile industry. Both Goswami and Rajan purchased used cars – a rapidly growing segment in India powered by digital disruption, newfound love from millennials, a buffet of financial options, and pandemic travel restrictions.<h2>Four new used-car unicorns</h2>It's a good time to be a used-car startup in India.For every new car sold in the country last year, about 1.4 used cars were sold, up from <a href="http://www.indianbluebook.com/storage/app/media/Insights/India-Pre-Owned-Car-Market-Report-3rd-Edition-2019.pdf">1.2 before the pandemic.</a>Between November 2020 and November 2021, four India-based startups that exclusively sell used cars became unicorns (startups valued at $1 billion or more) and minted a record amount of investment. India is home to about 80 unicorns total.The four startups – Cars24, Droom, Spinny, and CarDekho – raised over $1.5 billion total from global marquee investors. That's more than what these platforms raised in the previous five years put together, figures from their valuation announcements show.Market leader Cars24 saw its valuation nearly double within three months late last year. In September, it was valued at $1.84 billion; the latest funding round in December put the valuation at $3.3 billion. The company is expanding its global footprint with new branches in Australia and the UAE, and it's <a href="https://www.exchange4media.com/marketing-news/cars24-announces-international-expansion-now-operational-in-uae-australia-113641.html">eyeing the Southeast Asian market.</a> Those pouring the money include New York-based investment firm <a href="https://www.spinny.com/about-us/">Tiger Global,</a> American giant <a href="https://india.sequoiacap.com/india/companies/cars24/">Sequoia Capital</a>, <a href="https://economictimes.indiatimes.com/tech/funding/cardekho-enters-unicorn-club-with-250-million-funding-led-by-leapfrog-investments/articleshow/86973768.cms">LeapFrog Investments</a>, Abu Dhabi-headquartered <a href="https://tracxn.com/d/companies/spinny.com">ADQ</a>, and China-based venture capital firm <a href="https://www.cars24.com/blog/cars24-raisesi-450-million-nearly-doubles-its-valuation-to-1-84-billion/">DST Global.</a> And in December, India's star sportsman Sachin Tendulkar <a href="https://auto.economictimes.indiatimes.com/news/aftermarket/sachin-tendulkar-invests-in-used-car-platform-spinny/88276324">invested an undisclosed amount </a>in Spinny.<h2>The pandemic and millennials are behind the change</h2>The pre-owned car market started to outpace the new car market during the pandemic. The poor economic situation dented the demand for new cars, and the global semiconductor shortage prolonged the waiting period. Public <keyword id="11894924" type="UNKNOWN" weightage="100" keywordseo="transportation" source="Orion">transportation</keyword>, too, has taken a hit. "What happened in the last year during the pandemic is that the way people commute has changed," said Kushal Bhatnagar, an engagement manager at consulting and research firm RedSeer. "During the pandemic era, the usage of [ride-hailing services] Ola and Uber dropped. Shared mobility as a concept declined in India."All these factors have had an unintended spillover on the used car market, providing a jumpstart for startups like Droom, an online-only marketplace that offers fair pricing assessments and digitized vehicle histories.<div type="image" title="Droom CEO Sandeep Aggarwal" height="2661" width="3547" msid="90288740" hostid="261"></div>Droom CEO Sandeep Aggarwal said the growth in India's used-car market is driven by the country's growing middle class and the rise of a young population armed with disposable income."We get about 16 million monthly user traffic and about 75% of them come from millennials," Aggarwal told Insider. Indeed, millennials make up 80% of the buyer base for used cars, one <a href="https://www.motownindia.com/Bureau/Auto-Industry/3192/Millennials-Gen-Z-appetite-for-used-cars-on-the-rise-Cars24-Ipsos-Report-Motown-India-Bureau">industry research</a> found.The CEO added that the demand for used cars in India is reflective of a change in generational mentality."'My father had a scooter. After working for 25 years, he bought his first car at the end of his career. I don't want that. I want a car now,' is what a millennial thinks," Aggarwal said. "This aspirational value has been embedded in the generation of Indian millennials."<div type="image" title="Motorbikes and scooters lined up in India." height="2448" width="3264" msid="90288741" hostid="261"></div>The type of demand in the market is also shifting, two industry insiders said."Often what we see is someone will prefer a four-year-old gently used BMW for 1.2 million rupees ($16,000) to a brand new Honda city for the same amount," Aggarwal said."A lot of people who owned two-wheelers now want a car for their family and their obvious choice is a used one. The age group driving this growth is between 30 and 35," echoed Anurag Jain, the cofounder of CarDekho.<h2>Moving towards a focus on the user</h2>With an estimated <a href="https://redseer.com/newsletters/indias-used-car-market-is-unstoppable-with-its-steady-and-tech-driven-growth/">30,000 brick-and-mortar dealers</a> across the country, India's used-car market is a highly fragmented area dominated by mom-and-pop operations. Until about five years ago, most used-car services were seller-centric listing services. The segment was riddled with untrustworthy agents and cumbersome paperwork.But this is slowly changing. The segment is moving towards user experience-focused systems and buyer-focused business models.Consider CarDekho, a 14-year-old company that hit unicorn status in October. The marketplace offers end-to-end services such as doorstep pickup, financing options, insurance, post-service warranty, and long-term maintenance packages."In India, it will not be a pure-play digital transaction where one book and get the car delivered to home. Most of India will be O-to-O (online-to-offline), a blend of the digital and offline marketplace," Jain told Insider.<div type="image" title="A used car lot in India" height="1908" width="2544" msid="90288743" hostid="261"></div><h2>The road ahead</h2>While the demand for pre-owned cars <a href="https://www.ft.com/content/6617dc19-6302-42b6-9c98-94faecb0dd8c">has soared across the world</a>, India is a hugely under-penetrated market. Only <a href="https://www.census2011.co.in/hhassets.php">about 4% of households</a> in the country own a car.Globally, China leads the used-car market with 21.4 million units sold in 2019, per <a href="https://redseer.com/newsletters/indias-used-car-market-is-unstoppable-with-its-steady-and-tech-driven-growth/">RedSeer</a>. The US follows in second place with 17.5 million used cars sold in 2019. India is in fifth, with 4.4 million units sold.The country's automotive industry is expected to be worth $300 billion by 2026, per an <a href="https://www.ibef.org/industry/automobiles-presentation">estimate</a> from government-backed think tank India Brand Equity Foundation. The business of pre-owned vehicles stands to play a key role in this growth. From the 4.4 million used cars purchased in 2021, numbers are expected to almost double in five years, per <a href="https://redseer.com/newsletters/indias-used-car-market-is-unstoppable-with-its-steady-and-tech-driven-growth/">RedSeer's forecast</a>.For now, India's used-car unicorns are aggressively adding more manpower and markets to capitalize on opportunities. Droom and CarDekho are eyeing a public listing in the coming months."If we look at the large economies like the US, Western Europe or Japan, we're talking about 70%+ adoption of cars," said Droom's Aggarwal. "In India, the motorization adoption is set to grow from 22 cars per 1000 people to 200 cars per 1000 people in three decades."

How millennials and the pandemic are powering India's used-car market, where 4 startups hit unicorn status in one year

Gone are the days when bigger necessarily meant better for startups across the country. While a billion dollar valuation meant the world to upcoming entrepreneurs as early as a year back, with the global financial tides turning, the focus has shifted from big GMV figures to driving efficiency in business models. 
 
This comes at a time when well-funded hyper-local startups like <a href="http://www.businessinsider.in/searchresult.cms?query=PepperTap&amp;sortorder=effectivedate">PepperTap</a> have shut down and larger ones like Grofers and Zomato have been forced to scale down operations. The so called ‘unicorns’ are struggling to raise funds, and recklessness with investors' money is punished with tighter purse-strings. 
 
Meet <a href="http://www.businessinsider.in/searchresult.cms?query=Sandeep+Aggarwal&amp;sortorder=effectivedate">Sandeep Aggarwal</a>, co-founder of <a href="http://www.businessinsider.in/searchresult.cms?query=ShopClues&amp;sortorder=effectivedate">ShopClues</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Droom&amp;sortorder=effectivedate">Droom</a>. He was a wall-street analyst who bootstrapped his venture with his own funds and angel money that he raised from his friends and family till he first received institutional funding to the tune of $4 million in January 2012. 
 
Interestingly, Aggarwal’s latest startup <a href="http://www.businessinsider.in/searchresult.cms?query=Droom&amp;sortorder=effectivedate">Droom</a> has a mere three employees in customer support. The company’s GMV to human resource ratio stands at $1 million annualized GMV per person. Aggarwal claims it’s the highest amongst startups in the country. His company is currently doing close to $170 million in annualized GMV. 
 
Business Insider sat down with Aggarwal to understand where machines can replace man, and where they can’t. 
 
Journey to automating <keyword id="2947589" type="UNKNOWN" weightage="60" keywordseo="Droom">Droom</keyword> 
While I’m proud of <a href="http://www.businessinsider.in/searchresult.cms?query=ShopClues&amp;sortorder=effectivedate">ShopClues</a>, we still had to hire hundreds in customer support, and I didn’t want to repeat that mistake. 
 
It took me over a month to conceptualize Droom as a wireframe. I still remember, there were 127 slides. I thought through the workflow cycle, where one may need to call customer support, and what can and can’t be automated. 
 
Today we have only one supervisor and three employees in customer support. 
 
Potential of <keyword id="294572" type="TECHNOLOGY" weightage="80" keywordseo="machine-learning">machine learning</keyword> 
<a href="http://www.businessinsider.in/searchresult.cms?query=Machine+learning&amp;sortorder=effectivedate">Machine learning</a> will allow us to have similar, if not better results in customers support. I think we can touch Rs. 250 crores in GMV per customer support employee. We can improve on that with keywords-based FAQs. One can also use IVR. 
 
 ‘Labor is cheaper than tech’ 
That’s the kind of thinking that has limited us to the services industry. It’s time we create quality product and platform companies. Human resource is cheap because it accounts for limited financial exposure, human errors and lack of reporting. 
 
Technology replacing employment 
Technology may deem some redundant. It’s their job to adapt and re-train themselves. That’s called survival for the fittest. That way people would actually end up earning more than they are currently. 
 If we wouldn’t have had built <keyword id="6357066" type="UNKNOWN" weightage="60" keywordseo="ShopClues">ShopClues</keyword>’ returns platform, over 500 people would have been doing returns alone. While from a socialist perspective you could say that employs 500 people, it drives severe inefficiencies in the supply chain. 
 
Is it a sector-specific problem? 
It’s all about the founder’s vision and mindset. There are three types of founders – the marketing guy, the ops guy and the product guy. You can throw money at a problem, and get it solved. Automation for the first time may have its own set of problems than deploying manual labor. 
 Consider this, <keyword id="541988" type="COMPANY" weightage="60" keywordseo="SnapDeal">Snapdeal</keyword> is only 20-30% bigger than ShopClues in terms of GMV, but has a 7-8x bigger workforce. 
 
Challenges in automation in hyper-growth markets 
There is a price for everything. 
 
For hyper-growth sectors, you have to train yourself to ignore certain things. However, you shouldn’t be left trying to dig the well after the fire. 
 
The eternal debate that a machine doesn’t know right from wrong 
The best brain on earth is the human mind. There’s no substitute to that. 
 
However, in an assembly line scenario, there’s always the option to have a separate bin that can come under human inspection. Everything doesn’t boil down to a yes/no. Our technologies can also capture the scenario where there is no option but manual labor to step in. 
 
To scale quick, you have to automate certain processes. Repetitive things can actually burn human resources. Artificial Intelligence can anticipate how much information is worthy enough to process a decision. 
 
<a href="http://img.etimg.com/photo/51271877/image-4.jpg">Image Source</a>

Droom, a lesson in efficiency for startups

<ul><li>Anand Rathi Wealth has received a decent response from investors in the IPO as it was subscribed 9.78 times in 3 days.</li><li>However, the grey market premium has been falling each day. Today, GMP stood at ₹25 per share falling from ₹125 earlier.</li><li>The allotment of the IPO is scheduled on December 9.</li></ul>Wealth management firm Anand Rathi Wealth has received good response from investors in its initial public offering (IPO) as the issue has been oversubscribed by 9.78 times. If you have subscribed to the IPO, remember the allotment of the IPO is scheduled for tomorrow, December 9. However, the grey market premium of the company's shares continue to fall since the last couple of days. Currently, the premium for Anand Rathi Wealth’s shares is at ₹25 per share from ₹125 earlier. The IPO is in the price range of ₹530-₹550 per share. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.50 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.42 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.76 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.78 times </td></tr></tbody></table> Anand Rathi has a dominant position in the distribution of financial products, with a focus on the growing HNI segment. Currently, Anand Rathi Wealth is present across 11 cities in India -- Mumbai, Bengaluru, Delhi, Gurugram, Hyderabad, Kolkata, Chennai, Pune, Chandigarh, Jodhpur and Noida with a representative office in Dubai. Further, the company aims to double its assets under management in the 3-5 years, said Amit Rathi, managing director at Anand Rathi in an <a href="https://www.businessinsider.in/business/corporates/news/anand-rathi-aims-to-double-its-assets-under-management-in-the-next-3-5-years/articleshow/88069928.cms">interview with Business Insider.</a> “Anand Rathi Wealth generates higher revenue yields compared to competition as the company has consciously avoided stock broking and stock advisory businesses and restricted its focus to the high yielding segments of distribution of structured products and mutual funds,” said Nirmal Bang while recommending ‘subscribe’ rating to the IPO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rategain-travel-shriram-properties-ce-info-systems-mapmyindia-and-metro-brands-these-ipos-opening-in-the-next-couple-of-days/articleshow/88140211.cms">RateGain, Shriram, MapmyIndia and more — Check out the important dates of these upcoming IPOs and their grey market premiums</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/spinny-is-the-latest-used-car-platform-to-join-cars24-droom-and-cardekho-in-unicorn-club/articleshow/88140551.cms">Spinny is the latest used car platform to join Cars24, Droom and CarDekho in unicorn club</a>

Grey market premium for Anand Rathi Wealth IPO is down to ₹25 from ₹125

<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>

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