/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Droom Technology’s draft IPO prospectus is a minefield of misrepresentations and missing details, important to assess the health of the business.
Editor's note: Simplicity is not one of Droom’s virtues. To quote from the draft red herring prospectus, or DRHP, filed ahead of its IPO, this is what the company says it does: “We are a technology and data science company that facilitates automobile buying and selling online through a combination of our asset-light automobile e-commerce platform along with a technology-driven vertically integrated proprietary ecosystem of products and services for the automobile industry. Our automobile e-commerce platform, which includes our website and mobile apps, offers users convenience and a curated experience to buy and sell new and used vehicles and encompasses every element of automobile buying from searching for a vehicle, creating buying requirements, price discovery, booking, certification to purchase and financing and doorstep delivery.” The above is a load of jargon meant to either impress or perplex prospective investors. Explained in simple words, Droom is a website where buyers and sellers can purchase or sell used as well as new vehicles. Vehicles include cars and two-wheelers. Incorporated in 2014 by Sandeep Aggarwal, the founder of ShopClues (a story that ended in Aggarwal …
Droom Technology’s draft IPO prospectus is a minefield of misrepresentations and missing details, important to assess the health of the business.
Editor's note: Simplicity is not one of Droom’s virtues. To quote from the draft red herring prospectus, or DRHP, filed ahead of its IPO, this is what the company says it does: “We are a technology and data science company that facilitates automobile buying and selling online through a combination of our asset-light automobile e-commerce platform along with a technology-driven vertically integrated proprietary ecosystem of products and services for the automobile industry. Our automobile e-commerce platform, which includes our website and mobile apps, offers users convenience and a curated experience to buy and sell new and used vehicles and encompasses every element of automobile buying from searching for a vehicle, creating buying requirements, price discovery, booking, certification to purchase and financing and doorstep delivery.” The above is a load of jargon meant to either impress or perplex prospective investors. Explained in simple words, Droom is a website where buyers and sellers can purchase or sell used as well as new vehicles. Vehicles include cars and two-wheelers. Incorporated in 2014 by Sandeep Aggarwal, the founder of ShopClues (a story that ended in Aggarwal …
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
As the smart fan maker gears up for an IPO, prospective investors could do with some clarity on what the company’s next phase of growth will look like.
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
As the smart fan maker gears up for an IPO, prospective investors could do with some clarity on what the company’s next phase of growth will look like.
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
