Shift (business)
 | |
| Private | |
| Industry | E-commerce, peer-to-peer, Automotive industry |
| Founded | 2014 |
| Founders | George Arison, Minnie Ingersoll, Christian Ohler and Morgan Knutson |
| Headquarters | San Francisco California, United States |
Area served | urban areas of San Francisco Bay Area, Los Angeles, CA, Sacramento, CA and San Diego, CA |
| Website | Shift.com |
Shift is an online, peer-to-peer, marketplace for buying and selling used cars.[1] Founded in 2014, Shift is an American company based in San Francisco’s Castro District.[2] As of 2015, the company offers its services in San Francisco, Los Angeles, Washington, D.C. and San Diego, California.[3][4]
The leadership team includes co-founders George Arison, CEO and founder of Taxi Magic; Minnie Ingersoll, chief operating officer; and Christian Ohler, chief technology officer.[5][6]
Backed by Goldman Sachs Investment Partners (GSIP), Draper Fisher Jurvetson (DFJ), Highland Capital Partners, SV Angel, Great Oaks Venture Capital, DCM Ventures and others,[6][7] Shift raised $73.8 million as of September 2015.[8] In July 2017, Shift raised an additional round of $38 million from new investors including Kleiner Perkins Caufield & Byers's G2VP, as well as continued participation from DFJ, Highland Capital, DCM Ventures, and Goldman Sachs Investment Partners.[9] This brings Shift's total funding to $111.8 million as of July 2017.
Shift's employees, called "car enthusiasts," manage the process of car buying and selling for the customer.[6] They facilitate test drives, financing options, inspections, Department of Motor Vehicles interactions, detailing, pricing and merchandising.[10] At the beginning of the seller process, Shift employees assess the car, give the customer a price and sign a contract. Then they bring the car to the Shift warehouse and prepare it for sale.[6] Once listed, potential buyers can schedule a test drive and Shift will deliver it to their door. Cars sold through Shift include a five-day, 200-mile return policy and a 30-day limited warranty.[11]
References
- ↑ "LA tech roundup: Shift comes to LA, Zest heads to China, & more". Built in Los Angeles. Retrieved 1 July 2015.
- ↑ "Shift's Car Marketplace Website Grows Up In The Castro". Hoodline. Retrieved 3 June 2015.
- ↑ "Bay Area car-selling marketplace to invest $20M in Virginia expansion". Washington Business Journal. Retrieved 1 March 2016.
- ↑ "Adios car dealers, there’s a new kid in town". The San Diego Tribune. Retrieved 11 December 2015.
- ↑ "Ex-Google employees raise $24 million for Shift, the Uber for used cars". Mashable. Retrieved 18 November 2014.
- 1 2 3 4 "Shift Technologies Raises $23.8 Million to Build Used Car Marketplace". WSJ. Retrieved 18 November 2014.
- ↑ "This Startup Drives Used Cars Right to Your Door". Bloomberg Businessweek. Retrieved 1 September 2015.
- ↑ "Shift raises $50 million to make selling your old car a less terrible experience". Fortune. Retrieved 1 September 2015.
- ↑ "The virtual used car dealership Shift raises $38 million". Techcrunch. Retrieved 24 July 2017.
- ↑ "On-demand used car buying and selling comes to L.A.". LA Times. Retrieved 26 June 2015.
- ↑ "This startup promises a better way to buy or sell a used car". IDG News. Retrieved 2 June 2015.