Droom has announced the launch of its Orange Book Value (OBV) destination website along with its Android and iOS apps, multiple partnership and 3rd party web publishers’ widget. Orange Book Value assists the user to measure the fair market value for any used automobile.
It claims that OBV is the most comprehensive pricing engine, which is not limited to cars alone, but also covers a wide spectrum of vehicle categories including motorcycles, scooters, bicycles and planes - covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants for last 10-11 years.
With OBV, users can calculate the true market value of a used vehicle in less than 10 seconds. They can also download/share pricing report in no time. The US patent-certified OBV pricing engine is built on Droom’s proprietary computational infrastructure and real-time data science which analyses empirical evidences to give the final price value of any used vehicle. It considers various factors such as purpose (buying/selling), depreciation curves, margins and spreads with intermediaries as any vehicle changes ownerships, and dozens of factors that impact the valuation of an automobile.
Speaking on the new innovation, Sandeep Aggarwal, Founder and CEO, Droom, “Today is a historical day for the entire auto industry in India as we are launching Orange Book Value (OBV), India’s first and only algorithmic pricing engine to measure the true market value for any used automobile. For the last two years, we have deployed dozens of development engineers who have diligently worked and made this launch a great success. We have already managed to generate almost 72 million queries in the last seven months. Having spent millions of dollars on this innovation, the app is so convenient that a user can check the price of any used vehicle within ten seconds and can avail the pricing report free of cost.”