Shift (business)
Shift is an online, peer-to-peer, marketplace for buying and selling used cars. Founded in 2014, Shift is an American company based in San Francisco’s Mission District., the company offers its services in San Francisco, Los Angeles, San Jose and San Diego, California as well as Portland, Oregon.
The leadership team includes Co-CEOs George Arison and Toby Russell, also co-founders of Taxi Magic; Sean Foy chief operating officer; and Christian Ohler chief technology officer.
Backed by Lithia Motors Inc., Goldman Sachs Investment Partners, Draper Fisher Jurvetson, Highland Capital Partners, SV Angel, Great Oaks Venture Capital, DCM Ventures and others. As of 2019, Shift has raised approximately $300 million, a mix of debt and equity.
Shift's employees manage the process of car buying and selling for the customer. They facilitate test drives, financing options, inspections, Department of Motor Vehicles interactions, detailing, pricing and merchandising. When a seller wishes to sell cars directly to Shift, Shift's employees assess the car, give the customer a price and sign a contract, transferring the vehicle ownership and payment on the spot. Then they bring the car to the Shift facility and prepare it for sale. Once listed, potential buyers can schedule a free test drive and Shift will deliver it to their door and purchase the car on site. Cars sold through Shift include a seven-day, 200-mile return policy and a 30-day powertrain guarantee.
