Shift Technologies, Inc.
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ROIC.AI
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- Shift Technologies, Inc. (SFT) operates as an e-commerce platform for buying and selling used cars in the United States, offering retail sales of used vehicles through its online marketplace; financing and vehicle protection products including vehicle service contracts, guaranteed asset protection waiver coverage, wheel and tire coverage, prepaid maintenance plans, and appearance protection plans; and wholesale sales of used vehicles through auctions or directly to wholesalers. The company conducts operations in select markets such as the San Francisco Bay Area, Greater Los Angeles, and Portland, Oregon, targeting individual consumers and dealers with a seamless digital experience encompassing vehicle search, financing, inspections, and delivery. Founded in 2013 and headquartered in San Francisco, California, Shift leverages technology for vehicle reconditioning, 150-point inspections, and a seven-day return policy to facilitate direct consumer transactions. In recent developments, Shift completed a merger with CarLotz on December 9, 2022, to establish an omnichannel used-vehicle selling model; acquired dealer listing marketplace assets from Fair Technologies, closing on May 12, 2022, to enable third-party listings alongside its inventory; and filed for Chapter 11 bankruptcy reorganization on October 9, 2023, in the U.S. Bankruptcy Court for the Northern District of California, which transitioned to a liquidation plan approved on September 26, 2024, resulting in the cessation of operations, closure of its final locations in Oakland and Pomona, California, and shutdown of its website.
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