Beepi raised $149 million to revolutionize used car buying in California — then collapsed completely in 2017.
Founded in 2014 in Los Altos, California, Beepi built a peer-to-peer car marketplace that cut out dealerships entirely. Sellers got certified at home. Buyers got delivery and a return window. The idea was smart. The execution was not.
Co-founders Alejandro Resnik and Owen Savir burned through nearly $7 million a month on perks, salaries, and overhead — long before the unit economics made sense. Leadership conflicts, failed acquisition talks with ADESA, and a chaotic culture did the rest. By February 2017, employees found out the company was dead via text message.
In this episode, we break down exactly how Beepi imploded — and what every entrepreneur, investor, and side hustler can learn from it.
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