Asked by Riley Lennon on May 02, 2024
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.
Verified Answer
CB
Christopher BrownMay 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.
Learning Objectives
- Examine the effect of an entrepreneurial mindset on the success and failure rates of startups.
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