Stage: Napkin (idea)
Number of employees: 1-5
Car buying and selling has reached a plateau. iPriceCars is all about bringing the car driver back in control of the buy and sell process. We use inventory aggregation, data analytics, pricing engines and a simple UI to enable 250 million car owners to know more, buy and sell better. We are disrupting the market place for used cars.
iPriceCars is a Search Engine for cars, just like Kayak.com is for airlines or hotels. In addition, we make it easy for a car owner to price and sell their car by giving them multiple listing options.
The purpose of iPriceCars is to enable buyers and sellers make better decisions using data analysis.
The entire process is skewed in favor of the car dealer and whereas there are a number of products/ services being designed to make car buying easier, iPriceCars actually makes selling a car easier.
So here’s what we do at iPriceCars:
We believe that although about 8 million cars are listed for sale at any given time, there are 250 million cars actually available in the market.
So think of us as kayak.com meets linkedin & Zillow.
iPriceCars empowers consumers to buy & sell cars using data analytics mapped to market trends. Our goal is to create the largest inventory of independently owned vehicles ie. not owed by dealers and make them available to the market.
We do 3 things:
The revenue model is lead generation, subscriptions, sales commission & advertisements. Following the Freemium model, the basic service will be free to consumers.
iPriceCars is disrupting the FSBO (For Sale By Owner) marketplace. For far too long, the average car owner has been at the receiving end of vehicle pricing and deals. Now, with iPriceCars, they have the power of big data analytics helping them make decisions. Pricing is no longer decided by "Pricing Books" but by the market pricing.
iPriceCars unlocks the inventory of cars parked in each car owner's driveway and makes it a potential car for sale.
We connect buyers to cars not yet listed for sale and allow car owners to realize on an average $1,500 more for their cars. By giving them regular updates on the "Market Price" of their cars, we are creating a community of engaged, interested and eventually motivated car sellers.