car dealer founded april 2013 2013 04 headquarters los altos california united states key people ale resnik co founder ceo owen savir co founder coo and fabrice grinda executive chairman products secondary online marketplace for cars website www.beepi.com beepi is a los altos california company offering an online peer to peer marketplace for buying selling and leasing used cars 1 2 where transactions can be carried out entirely with a smart phone or a pc . 3 it was launched in april 2014 . 3 4 contents 1 services 2 history 3 competitors 4 references 5 external links services edit beepi is a peer to peer marketplace . 5 6 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 . 7 8 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 . 7 9 buyers have the option to pay beepi in bitcoin direct debit financing or credit cards . 3 in 2016 the company announced it would begin providing car leasing . 2 history edit 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 . 3 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 . 10 beepi raised a 5 million series a in april 2014 led by jeff brody of redpoint ventures and including angel investors from the tech industry . 11 the company announced a series b investment of 60 million in october 2014 at a valuation of 200m 12 and estimated that its annual revenue would be 15m . 3 by that time it had expanded to los angeles and san diego . 3 in december 2014 it raised an additional 12.7 million from three investors mostly to clean up its capitalization table by buying out early investors who had invested relatively small amounts . 13 in april 2015 the company opened an office in phoenix the first city outside of california in which it had offices . as of that time people could use beepi in 200 cities but delivery was free only in california and arizona . 14 in august 2015 the company raised 70 million in equity and debt funding at a valuation of about 500 million after co founder and ceo ale resnik told the wall street journal in may he expected to raise more than 300 million monster round of financing at a valuation over 2 billion . 15 in january 2016 resnick announced that beepi had raised 70m in late 2015 in a round led by china s largest domestic automobile maker saic motor ; he attributed the shortfall from his 300m projection to turmoil in the fundraising markets . the round brought the total raised by beepi to 150m . 16 in december 2015 ally financial and beepi announced a partnership in which ally will offer financing for buyers in the beepi marketplace . 17 as of february 2016 beepi s advisory board included larry summers and jim messina . 18 competitors edit as of august 2015 beepi s competitors included carvana shift and vroom.com . 19 references edit manjoo farhad april 22 2015 . an online tune up for the used car marketplace . the new york times . retrieved april 22 2015 . a b della cava marco 20 april 2016 . car buying startup beepi to offer used car leasing . usa today . retrieved 20 april 2016 . a b c d e f chapman lizette october 7 2014 . beepi raises 60 million to sell used cars to the smart . the wall street journal . retrieved february 5 2015 . shieber jonathan 10 december 2015 . buy a car on your phone with the new beepi app . techcrunch . retrieved 30 december 2015 . hanft adam 23 may 2014 . finally someone is sending car salesmen to the junkyard an interview with ale resnik co founder of beepi . . huffington post . retrieved 13 february 2015 . 50 companies that may be the next start up unicorns . the new york times . 23 august 2015 . retrieved 10 september 2015 . a b del rey jason 15 april 2014 . beepi could be the car buying site we ve been waiting for . re code . retrieved 12 february 2015 . lawler ryan 5 september 2014 . peer to peer auto marketplace beepi adds a prime option now shipping to 140 cities . techcrunch . retrieved 12 february 2015 . della cava marco april 8 2015 . beepi brings uber like ease to used car shopping . usa today . retrieved april 13 2015 . mit sloan newsroom . mit.edu . mit . october 31 2014 . retrieved february 5 2015 . brody jeff april 15 2014 . redpoint ventures . redpoint . redpoint . retrieved february 5 2015 . next billion dollar start ups . forbes . 15 april 2015 . retrieved 10 september 2015 . del rey jason december 30 2014 . used car site beepi lands 12 million from yuri milner and angellist s largest ever investment . re code . retrieved february 9 2015 . tishin donkersley 10 april 2015 . beepi expands to phoenix interview with ceo alejandro resnik . az tech beat . retrieved 11 september 2015 . demos rolfe winkler and telis . investors strike back on silicon valley valuations . retrieved 2016 09 02 . rao leena 21 january 2016 . china s biggest automaker just invested in a used car startup . fortune . retrieved 26 january 2016 . dexheimer elizabeth 16 december 2015 . ally to finance used cars bought online with beepi partnership . boomberg business . retrieved 30 december 2015 . logan bryan 1 february 2016 . this guy was so frustrated about buying a lemon that he vowed to revolutionize used cars . business insider . retrieved 2 february 2016 . jerry hirsch for the los angeles times . august 2 2015 . cutting edge virtual used car dealers gain traction external links edit official website retrieved from https en.wikipedia.org w index.php title beepi & oldid 737429790 categories online companies of the united statese commercepeer to peervehicle retailersretail companies based in californiacompanies based in santa clara county californialos altos californiaretail companies established in 20132013 establishments in californiahidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 2 september 2016 at 18 42 . text is available under the creative commons attribution sharealike license ; 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