Beepi’s Business Stalls After Burning Through Millions

0

Beepi, the operator of an online used-car marketplace, has started the process of selling off its assets to pay back debts, according to The Wall Street Journal. Founded in 2013, Beepi set out to streamline the process of buying and selling by offering services such as a mechanic to inspect cars and home delivery. The company would also take care of the transfer of titles, plates and handling of paperwork.

Beepi

Beepi

It appears Beepi struggled to find its spot in the market, however. Trouble has been brewing at the company for some time, with news breaking in December that it was shutting down operations outside of California and that it was in merger talks, although those didn’t end up leading anywhere. With the latest news, it looks as if Beepi is close to winding down its business.

Sohn Investment Conference 2021 Coverage: Octahedron Capital, Glenernie Capital

2021 Sohn Investment ConferenceThe following is our rough coverage of the 2021 Sohn Investment Conference, which is being held virtually and features Brad Gerstner, Bill Gurley, Octahedron's Ram Parameswaran, Glenernie's Andrew Nunneley, and Lux's Josh Wolfe. Q1 2021 hedge fund letters, conferences and more Keep checking back as we will be updating this post as the conference goes Read More


The company had raised about $150 million in VC funding from firms such as Redpoint Ventures and Sherpa Capital. It most recently secured a $70 million round in 2015 at a $564 million valuation. Existing investors and employees are not likely to see returns from the sale of assets, per the WSJ.

Get more key company info in its free profile.

No posts to display