Beepi, a peer-to-peer marketplace to buy and sell pre-owned cars online, continues its eastward expansion by launching in South Florida.
Starting Tuesday, consumers in Miami-Dade, Broward and Palm Beach counties can conveniently sell their vehicles as well as have Beepi cars delivered to their driveways. Beepi operates in eight major metropolitan areas in four states. The Silicon Valley-based startup, launched in 2014, has raised $79 million in funding from Redpoint Ventures, Sherpa Ventures, Foundation Capital and others.
“Our success in California, Arizona and Texas has enabled us to continue growing in line with the demand for a safe and easy car buying experience that meets the needs of today’s consumer,” said Beepi CEO and co-founder Ale Resnik.
The process of connecting buyers and sellers, according to Beepi, goes like this: When selling on www.Beepi.com, sellers schedule an appointment to have a local Beepi Inspector come to their home or office to conduct a comprehensive 185-point inspection. If the car is approved, they get free professional car photos taken and receive a guranteed sale price. If the car doesn’t sell in 30 days, Beepi will buy it. The price paid would be more than what a dealer would pay for the car.
Buyers purchasing cars through Beepi.com will get free delivery of a certified, fully detailed car wrapped in a bow. All cars come with a three-month, 3,000-mile bumper-to-bumper warranty. The prices would be less than what a dealer would sell the model for, according to the company. No test drives, but Beepi provides a 10-day money-back guarantee for any reason. So far, however, fewer than 1 percent of customers have returned their cars, the company said.
Beepi, part of a wave of companies leveraging the online marketplace and the “on-demand economy” in traditional industries, says the company is able to narrow the spread because it doesn’t have overhead such as inventory, parking lots and dealerships.
Beepi is on track to book about $100 million in revenue over the next year and has plans to expand to seven more regions by the end of 2015, according to a recent New York Times article.
Beepi founders Ale Resnik and Owen Savir.