# Used-car startups Cars24, Spinny, Droom chase profits, diversify 2026-08-14T02:10:44+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet India's used-car startups, including Cars24, Spinny and Droom, are entering new segments and forging partnerships to pursue stable revenue and profit growth a decade after emerging, as profitability remains elusive. SoftBank-backed Cars24 is expanding into personal loans and credit-score services via AI, while Spinny partners with OEMs to build a certified pre-owned EV ecosystem. The used-car market is dominated by unorganised local players, which account for 79% of transactions per a Redseer report. Droom's valuation has slumped from $1.2 billion to $360 million since 2021, and its workforce nearly halved to 69 employees. Cars24 reported a 27% revenue jump to Rs 1,411 crore in FY26 but Ebitda loss narrowed only 36% to Rs 357 crore. ## Coverage - livemint.com Tags: AI, Cars24, Droom, Spinny, startups, used cars Canonical: https://indianopinion.org/used-car-startups-cars24-spinny-droom-chase-profits-diversify/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/used-car-startups-cars24-spinny-droom-chase-profits-diversify/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.