- Business
- Shift Technologies, Inc. (SFTGQ) operates an e-commerce platform for buying and selling used cars in the United States, conducting business through Retail and Wholesale segments; it offers retail sales of used vehicles online, wholesale auctions and direct wholesaler sales of used cars, financing options, and value-added protection products including vehicle service contracts, guaranteed asset protection waivers, wheel and tire coverage, prepaid maintenance plans, and appearance protection plans. Founded in 2013 and headquartered in San Francisco, California, the company targets individual consumers and wholesale buyers across the U.S. auto dealership sector within the consumer discretionary industry. In October 2023, Shift Technologies filed for Chapter 11 bankruptcy reorganization in the U.S. Bankruptcy Court for the Northern District of California to wind down operations amid persistent losses and liquidity challenges, successfully confirming a joint plan effective October 12, 2024, that established claims deadlines and facilitated asset liquidation including inventory sales; its physical locations in California ceased operations, the retail website shut down, and approximately 80% of staff were terminated, leaving a minimal team for closure.