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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 …
In light of the recent exits of top executives at Swiggy’s quick commerce business, we look at the reasons behind the departures and whether it’s impacting the business.
The ride-hailing company is gradually ramping up its food delivery business and at least one of the two major players has blinked in response. How credible is the threat?
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
