It has been planning an IPO since 2018 which was initially delayed to 2019, followed by 2020. Droom has now set a deadline for 2021. In 2019, the company saw its net revenue double to $32 million from $16 million in 2018. It estimates that the net revenue in 2020 will increase to $63 million.
It also expects its orders to increase from 610,000 in 2019 to 1.5 million in 2020. Besides that, Droom estimates the total number of listings on its platform to increase from 1.8 million in 2019 to 2.4 million this year.
The startup has confirmed to AutoStory that while its focus will be on the American stock exchange, the high level of compliances required to be met for Nasdaq will prepare them equally for listing at the other three exchanges.
Speaking to AutoStory, Sandeep Aggarwal, CEO and Founder of Droom, said, “By the time we file for our IPO, if we get more comparable assets in Hong Kong and we see a business rationale, we may consider Hong Kong. The same is the case for other listings.”
When asked about why Nasdaq, Sandeep said that he wants to see Droom competing with the global technology stocks which are in essence true competitors for a global business like his.
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