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Beepi car marketplace gets crowd-funded.

M2 EQUITYBITES-December 31, 2014-Beepi car marketplace gets crowd-funded

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Online car marketplace Beepi said that 86 investors from the entertainment and financial communities have come together to invest USD2.7 million in the largest deal ever done via crowd funding on AngelList.

In addition to this crowd sourced funding, four new prominent investors are now backing the company, including Digital Sky Technologies co-founder Yuri Milner and SAB Capital Management CEO and founder Scott Bommer. The new investment this round totals USD12.7 million.

This funding comes on the heels of the company's USD60 million Series B round from Foundation Capital and SherpaVentures.

Beepi offers consumers a new option that bypasses the dealership model. With Beepi, consumers can buy or sell a car completely online without the frustration of haggling or fear of overpaying. Currently Beepi delivers cars to 140 US cities. For more information, visit www.beepi.com.

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Publication:M2 EquityBites (EQB)
Date:Dec 31, 2014
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