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News18 » Auto
1-min read

Droom’s Orange Book Value Expands to Europe, Middle East, and Oceania; Available in 38 Countries Now

Droom's Orange Book Value has garnered 30 crore queries across all its verticals till date, covering 24000+ products.


Updated:July 12, 2019, 11:43 AM IST
Droom’s Orange Book Value Expands to Europe, Middle East, and Oceania; Available in 38 Countries Now
OBV Logo, Representational Image. (Image source: Droom)

Droom's pricing engine, Orange Book Value (OBV), has announced its launch in 34 new countries. By introducing this AI and Data Science-led pricing engine in 34 more countries across Europe, Middle-East, and Oceania, Droom aims to establish OBV as the default engine for the fair market price of any vehicle in all these markets.

Essentially an arithmetic pricing engine, OBV provides the fair market value for any used vehicle within as little as 10 seconds. Equipped with a distinctive algorithmic methodology, OBV leverages proprietary technologies like AI and Data Science for advanced evaluation across 11 criterions, covering a wide spectrum of 9 automobile categories. Such offerings give OBV an edge over all its contemporaries not just in India but all across the globe. In addition to this, OBV also provides solutions for automobile dealers, banks and NBFCs, insurance companies, ride and taxi aggregators, and repo companies.

OBV has succeeded in garnering approximately 30 crore queries across all its verticals till date, covering 24000+ products from 100+ makes, 1000+ models, and 4000+ variants manufactured in the last 15-16 years. OBV is set to open services across 34 new countries including Germany, Italy, France, Spain, Sweden, Netherlands, UAE, Saudi Arabia, Qatar, and Australia, to name a few.

Sharing an insight behind this global expansion Sandeep Aggarwal, Founder and CEO, Droom remarked, “Since its inception, OBV has brought tremendous amount of transparency, making fair and accurate pricing of used vehicles within the reach of individuals, dealers, insurance companies, banks, and many other verticals and stakeholders across the ecosystem. OBV has facilitated not just an easy and hassle-free evaluation of pre-owned vehicles, but has also brought down the search time and cost remarkably. We are beyond ecstatic about our global expansion as something that started as an initiative meant for the world’s 3rd largest automobile market i.e. India is now becoming available in 38 countries across the globe. In last 5 years, we at Droom have made significant investments in computation infrastructure, algorithms, AI, and machine learning so that we can offer a 21st century way for pricing used vehicles.” Having generated approximately 300 million queries across 9 categories in 4 countries till date, OBV plans to cater to 1.6 billion+ queries across 15+ categories in 100 countries by 2023.

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| Edited by: Anirudh SK
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