Beepi, an online marketplace for buying and selling used cars, has hit a major pothole.
The company, which was operating in 16 U.S. cities, plans to shut down in “non-profitable markets outside of California,” laying off 180 workers, and merging with a not-yet-launched venture called Fair, a statement from Beepi confirmed. Beepi operated in Arizona, California, Florida, New York, and Washington as well as the greater Washington D.C. area. Neither company would say how many markets would be shuttered. News about the shakeup was first reported by tech news site TechCrunch.
Source: Fortune
