Resnik revamps method of buying used cars with Beepi

November 13, 2014

Alejandro Resnik, MBA ’13, has always been driven to solve problems with innovation. So when he learned firsthand the misery of owning a lemon of a used car, Resnik set out to change the way Americans buy automobiles. On April 15, 2014, Resnik launched Beepi, an online marketplace that enables customers to buy or sell vehicles from home with free delivery, the support of a certified inspection, and a money back guarantee for buyers. The company has grown quickly in California and last month secured a $60 million funding round to expand across the U.S. “Beepi is the first company to sell cars 100 percent online. It’s as big an innovation as Zappos was in the 2000s when they started selling shoes 100 percent online,” Resnik said. “Both seller and buyer face better prices than when transacting with dealers, simply because Beepi doesn’t have salesmen, lots, and other fixed costs—also because Beepi faces more supply and demand than any local dealer by virtue of operating in the entire market without geography restrictions.” Continue reading on MIT Sloan Newsroom.

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