Beepi Hires CFO to Drive National Growth

MOUNTAIN VIEW, Calif., Sept. 27, 2016 /PRNewswire/ -- Beepi, Inc., the radically new way to buy, sell and own cars, today announced it hired David Faugno as its chief financial officer (CFO). This is the first CFO hire for the national online marketplace, which has been in operations for just over two years.

"Beepi's organic growth and diversification in services has ushered in the need for expanding our leadership team," said Ale Resnik, CEO and co-founder of Beepi. "With his track record of success in guiding financial strategy and operations in both the public and private markets, David is well-positioned to lead Beepi through the next chapter as the automotive industry evolves and Beepi continues its exceptional growth."

Faugno joins Beepi from Barracuda Networks (NYSE: CUDA), where he led as CFO for a decade. Barracuda scaled immensely under his leadership; Faugno joined when it employed fewer than 100 people and grew to over 1,500 during his tenure. He led the acquisitions of over a dozen companies, took the company public in 2013 and led the finance organization for the public company for more than two years. He has been recognized as Silicon Valley Business Journal CFO of the Year in 2013. Faugno studied at Rutgers University and earned an MBA from Duke University.

Recently, Beepi has added new services and features that make the car buying and selling experience even easier for consumers. These moves build upon Beepi's record sales: Beepi grew over 250% in the first half of 2016 when compared to the same period last year.

• In September 2016, Beepi added Beepi Blue, a new service to make it even easier to sell a used car online or via mobile phone. With Beepi Blue, Beepi will make an offer on all cars, even ones that don't meet Beepi's stringent requirements or don't pass the 240-point inspection, and sell them at a wholesale auction.
• Beepi expanded its delivery service nationwide in July 2016, as the company saw strong website traffic and inquiries from consumers located in non-Beepi markets. Now, people can buy a great quality used car from anywhere in the continental US (except North Dakota and Montana) and get it delivered right to their driveway with a 10-day money-back guarantee.
• Beepi became the first online marketplace to add the flexibility of used car leasing in April 2016, as part of a partnership with Ally Financial. Customers now have the option of affordable monthly payments without the commitment of traditional car ownership.
• Earlier, in April 2016, Beepi expanded its on-the-ground presence to 16 major metro areas with a move into Houston. Beepi has seen continuous growth in its core markets.
• Beepi released its first mobile app for buying and selling used cars in December 2015. In turn, customers are making more of their Beepi purchases on mobile devices.
• Beepi released a new VR-like 360 view on Beepi.com and the mobile app, giving buyers a full 360-degree visual of the exterior and interior of the car without going to the dealership.

About Beepi
Beepi is the first startup to take on, and successfully disrupt, the pre-owned car industry. A national peer-to-peer marketplace, Beepi is the radically new way to buy, sell or lease a quality car completely online, giving consumers a superior experience that is fast, secure and even fun. Beepi has been licensed by the Department of Motor Vehicles since December 2013. For more information, please visit www.beepi.com.

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