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Snake Oil Is Alive And Well in SiliCON Valley - Beepi Used Car Scheme - $149 Million Invested, 260 Employees Hired Buh Bye : Step Right Up Folks Fair.Com Is In The Wings


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LEARN MORE: Beepi's Demise - Automotive News Report
LEARN MORE: Fortune Mag's Beepi Story
LEARN MORE: TACH's Used Car SuperSearch (Includes All Craigslist Cities Used Cars)

But First Snide's Remark's: When bullshit automotive digital concepts can continue to raise large investments while real business' are shutting down due to lack of capital I get pissed, so I thought TACH readers should see this story...but don't do it after lunch because I'm sure you will vomit...WHAT DO YOU THINK, MSNIDE@THEAUTOCHANNEL.COM

AUTO CENTRAL - December 10, 2016: Snake oil salesman continue to acquire investment capital from jerks.


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In a statement, Beepi painted a rosy picture of its alliance with Fair (another go nowhere, looser of a concept with a management group led by the biggest auto snake oil sales guy of all time Scott Painter, well maybe second to Fisker) by saying “that it’s joining forces with a number of automotive industry veterans to integrate dealers into Beepi’s digital car-buying platform.” Those so-called veterans include Georg Bauer, formerly of BMW, Mercedes-Benz, and Tesla; Scott Painter, formerly of TrueCar and CarsDirect; and Fedor Artiles, formerly of Mercedes-Benz, Chrysler, Volkswagen, and Tesla.

Beepi, which employed 270 people as of September, had raised nearly $149 million over the past two years from venture capital firms including Redpoint, Sherpa Ventures, Foundation Capital, Capital Invent, and DE Shaw. Part of the money came from $70 million raised in a funding round last year led by SAIC Motor Corporation, one of China’s largest domestic automakers and parts supplier.


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Thanks George - RIP

For more about Scott Painter's questionable history, read: Scott Painter Finally Dries Up At TrueCar