CarLotz, Inc.
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- Business
- CarLotz, Inc. (LOTZ) operates as a consignment-to-retail used vehicle marketplace, providing corporate vehicle sourcing partners and retail sellers with access to retail buyers through its proprietary Retail Remarketing technology platform and omni-channel sales model; core services include vehicle consignment, sourcing from fleet leasing companies, rental firms, banks, finance companies, wholesalers, and OEMs, real-time performance metrics, data analytics, pricing optimization, and contactless e-commerce for buying, selling, trading, or consigning vehicles online or at retail hubs. The company serves retail customers, individual sellers, and corporate partners across 22 hubs in the Mid-Atlantic, Southeast, Southcentral, Midwest, West, and Pacific Northwest regions of the United States. Founded in 2011 and headquartered in Richmond, Virginia, CarLotz went public in 2021 via a SPAC merger and, as of December 9, 2022, operates as a wholly-owned subsidiary of Shift Technologies, Inc. following a stock-for-stock merger that combined Shift's West Coast e-commerce operations with CarLotz's mid-Atlantic consignment network, delisted LOTZ shares from Nasdaq, and aimed to fund profitability through approximately $125 million in cash. Recent major changes include the 2022 merger with Shift Technologies, which integrated operations and rationalized physical footprints amid market challenges; Shift's subsequent workforce reductions of 30% in early 2023 and Chapter 11 bankruptcy filing in October 2023, impacting the combined entity's structure while CarLotz maintains its consignment model.
Online used-car marketplace Shift cuts workforce 30% following CarLotz merger
CarLotz Announces Special Shareholder Meeting Voting Results
CARLOTZ INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of CarLotz, Inc. - LOTZ
CarLotz, Inc. (LOTZ) Reports Q3 Loss, Lags Revenue Estimates
CarLotz Announces Third Quarter Fiscal 2022 Financial Results
SHAREHOLDER ALERT: Weiss Law Reminds LFG, ECOM, LOTZ, and RCOR Shareholders About Its Ongoing Investigations
How CarLotz is Evolving Customer Service in Today's Marketplace
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates LOTZ, ECOM, MTCR, MNRL
EQUITY ALERT: The M&A Class Action Firm Announces the Investigation of CarLotz, Inc. - LOTZ
CarLotz Announces Industry-Leading ‘Drivers Seat Advantage' Program to Benefit Used Car Buyers
SHAREHOLDER INVESTIGATION NOTICE: Halper Sadeh LLP Investigates LOTZ, HIL, CSVI
SHAREHOLDER INVESTIGATION NOTICE: Halper Sadeh LLP Investigates GMTX, MANT, ZY, LOTZ
SHAREHOLDER ALERT: Weiss Law Investigates CarLotz, Inc.
SHAREHOLDER ALERT: Rigrodsky Law, P.A. Is Investigating CarLotz, Inc. Buyout
Shift Technologies (SFT) And CarLotz (LOTZ) Announce Merger With New Business Plan
CarLotz, Inc. (LOTZ) Reports Q2 Loss, Tops Revenue Estimates
Used Car eCommerce Platform Shift to Merge with Consignment Firm CarLotz
LOTZ Stock Alert: Halper Sadeh LLP is Investigating Whether the Sale of CarLotz, Inc. is Fair to Shareholders
Shift and CarLotz Agree To Merge, Creating a Differentiated Used-Auto Ecommerce Retailer
CarLotz Announces Second Quarter Fiscal 2022 Financial Results