Sector: Consumer Cyclicals | Industry: Auto Vehicles, Parts & Service Retailers |
Shift Technologies, Inc. is an end-to-end auto e-commerce platform transforming the used car industry with a technology-driven customer experience. It provides digital solutions throughout the car ownership lifecycle enabling customers to purchase a vehicle online with financing and vehicle protection products. Its segments include Retail and Wholesale. The Retail segment represents retail sales of used vehicles through the Company's e-commerce platform and fees earned on sales of value-added products associated with those vehicle sales, such as vehicle service contracts, guaranteed asset protection waiver coverage, prepaid maintenance plans, and appearance protection plans. The Wholesale segment represents sales of used vehicles through wholesale auctions or directly to a wholesaler (DTW). Its physical operations are conducted in three West Coast hubs, namely Los Angeles, Oakland, and Portland. Its wholly owned subsidiary includes CarLotz, Inc.
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