It stores current contents of a web page and gives you a link to the stored copy.
Peeep.us is more than a URL shortener. It stores current contents of a web page and gives you a link to the stored copy.
So even if the author alters or deletes the page or even the whole site is shut down you will have a proof that it existed.
Peeep.us will always remember what the page looked like at the moment you gave it to peeep.us
Peeep can help if you want to share a link that is normally viewable only by you (it may be a resource requiring sign-up, a private profile on a social network or just any publicly inaccessible page).