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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

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Published Tue, May 2, 2017 · 09:50 PM

DeeperDive is a beta AI feature. Refer to full articles for the facts.

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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