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Yeah, my wife and I bought a car from Beepi and it was a great experience. If anything, I thought it was a little underpriced -- given everything they did for
by ScottBurson 9y ago
Yeah, my wife and I bought a car from Beepi and it was a great experience. If anything, I thought it was a little underpriced -- given everything they did for us, we probably would have paid another $400. I don't really know why it didn't succeed.
ETA: well, here's a post-mortem (about halfway down): https://techcrunch.com/2017/05/25/anatomy-of-a-managed-marketplace/ https://techcrunch.com/2017/05/25/anatomy-of-a-managed-marke...
- brogrammernot 9y agoThey had an inherently flawed model in an industry that has a high barrier to entry and requires significant cash resources. Just take a look at Carvana's most recent earnings, they lost something like 40M in the first quarter on revenue of $160M. They're still spending a ton of money to compete. Beepi had a flawed model, and ran out of money. I find it hard to be sad for them as this is what is supposed to happen when you don't have a sustainable business model.
- defined 9y agoI am sad for all the people who lost their jobs as a result of these failures, though.
- brogrammernot 9y agoThat's fair. I've been through 2 "failed" startups, one somewhat success and one that looks promising but you come out the other side of these things alright. They learned a super valuable lesson about market for, and it will help them all in the future having this experience.