Beepi

Beepi is a Los Altos, California company offering an online peer-to-peer marketplace for buying and selling used cars, where transactions can be carried out entirely with a smart phone or a PC. It was launched in April 2014.

Services

Beepi is a peer-to-peer marketplace. Cars undergo an inspection and are listed on Beepi's website for a fixed sales price, with Beepi taking up to a 9% commission and buying unsold cars after 30 days. While buyers do not personally inspect or test drive the car before purchase, they have a 10-day return window after delivery and a warranty. Buyers have the option to pay Beepi in bitcoin, direct debit, financing or credit cards.

A 2014 market report on the intersection of the internet and consumer interaction with the automobile industry by Capgemini, a research firm, found that about one third of Americans and two-thirds of Chinese surveyed said they would purchase an automobile online.

History

Beepi was co-founded by CEO Ale Resnik and COO Owen Savir in April, 2014; the service was initially available only in the San Francisco area. Resnik said that he was inspired to create Beepi after a negative experience with a used car that he purchased while a student at MIT.