Asked by Riley Lennon on May 02, 2024

verifed

Verified

Why did Beepi fail even though it raised over $150 million?

A) There was a lawsuit over the business idea.
B) The founders spent through money too quickly.
C) Nobody wanted peer-to-peer used cars.
D) The founders were too inexperienced.

Beepi

A now-defunct online marketplace and a platform for buying and selling used cars, known for its innovative approach to vehicle transactions.

Peer-to-Peer

A decentralized model of interaction between parties or individuals directly without the need for intermediaries.

  • Examine the effect of an entrepreneurial mindset on the success and failure rates of startups.
verifed

Verified Answer

CB
Christopher Brown

May 06, 2024

Final Answer :
B
Explanation :
Beepi failed because the founders spent through money too quickly, leading to financial issues and the eventual shutdown of the company.