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Apps for used cars struggle to prove business isn't a clunker

Out of four apps, only one, Shift Technologies, can prove it's a viable startup

Published Tue, May 2, 2017 · 09:50 PM
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San Francisco

IN the last few years, venture capitalists got really excited about used cars.

They thought selling cars online or through mobile apps could upend the pre-owned auto market and make dealerships irrelevant. Investors pumped more than US$860 million into four companies - Beepi, Carvana Co, Vroom Inc and Shift Technologies Inc - from 2013 to 2016.

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