Well, that's exactly what GoZoomo - a Bengaluru-based online used car market - decided to do recently.GoZoomo returned more than half of the $7 million venture capitalists had given them, after coming to terms with the fact that their business model wasn't sustainable. The journey began when the three founders resolved to connect car sellers directly with their buyers, and remove the middlemen - dealers - from the equation. In the absence of a single pricing standard in India, GoZoomo's buyers and sellers haggled over car prices. But it didn't work out for them.One of TOI's sources thinks GoZoomo took the right decision, but qualified his praise. First, the used car market is fragmented and transaction prices are not reported to one central institution.

Source: Times of India September 12, 2016 03:55 UTC