Are used car apps turning out to be lemons for investors?
May 7, 2017 7:10 AM -
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 $860 million into four companies -- Beepi, Carvana Co., Vroom Inc. and Shift Technologies Inc. -- from 2013 to 2016. But then things got bumpy.