Shift Technologies

Shift Technologies, Inc. provides online automobile purchasing services. It also provides end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. The firm operates through the following segments: Retail and Wholesale. The Retail segment represents retail sales of used vehicles through its ecommerce platform and fees earned on sales of value-added products associated with those vehicles 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. The company was founded by Irakly George Areshidze Arison, Toby Russell and Christian Ohler in 2013 and is headquartered in San Francisco, CA.

Earnings data Q2 2024

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Shift Technologies Inc (NASDAQ: SFT) seeks to raise $75 million from a private institutional offering of senior notes due 2026. The initial purchasers of the notes have thirteen days to procure up to an additional $11.25 million notes.

Shift Technologies to Raise $75M Via Institutional Debt

SAN FRANCISCO, May 24, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ: SFT ) today announced its intention to offer, subject to market conditions and other factors, $75,000,000 aggregate principal amount of convertible senior notes due 2026 (the "notes") in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). Shift also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $11.25 million aggregate principal amount of the notes.

Shift Technologies, Inc. Announces $75,000,000 Convertible Notes Offering

Shift Technologies' (SFT) Management on Q1 2021 Results - Earnings Call Transcript

SAN FRANCISCO, May 12, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported first quarter financial results for the period ended March 31, 2021. Management's commentary on first quarter financial results and second quarter and full year 2021 outlook can be found by accessing the Company's shareholder letter on investors.shift.com, or by listening to today's conference call. A live audio webcast will also be available on Shift's Investor Relations website.

Shift Triples Revenue & Ecommerce Unit Sales in Q1'2021, Raises Guidance for 2021

SAN FRANCISCO, May 10, 2021 /PRNewswire/ -- Leading used car ecommerce platform Shift (NASDAQ: SFT) has launched a new market for consumers to buy its cars in Texas. With this launch, consumers in the Austin-San Antonio region can now buy and sell vehicles directly with Shift, using the company's unique direct-to-consumer, at-home service.

Shift Begins Selling Cars to Customers in Austin-San Antonio Area

SAN FRANCISCO, May 4, 2021 /PRNewswire/ -- Leading used car ecommerce platform Shift (NASDAQ: SFT) today announced the launch of its service to purchase cars from consumers in the Las Vegas region. With the addition of this new market, the company's first in the state of Nevada, consumers are now eligible to sell their cars directly to Shift in 11 geographies across the United States.

Shift Begins Buying Cars from Consumers in Las Vegas

The used vehicle market has exploded in 2021 due to consumer demand and supply chain issues for automotive companies.

Play The 'Shift' In Vehicle Sales And Buy Shift Technologies

SAN FRANCISCO, April 20, 2021 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, announced today that it will report first quarter of fiscal year 2021 financial results for the period ended March 31, 2021, following the close of the market on Wednesday, May 12, 2021. On that day, management will host a conference call and webcast at 2 p.m. PT (5 p.m. ET) to discuss the company's business and financial results.

Shift to Report First Quarter of Fiscal Year 2021 Financial Results on May 12, 2021

SAN FRANCISCO, April 05, 2021 (GLOBE NEWSWIRE) -- Shift, a leading end-to-end auto ecommerce platform that is transforming the used car industry with a technology-driven, hassle-free customer experience, today announced that its 2021 Annual Shareholder Meeting (the “Annual Meeting”) will be held virtually on Tuesday, June 8, 2021. The record date for those eligible to receive notice of and to vote at the Annual Meeting is Monday, April 12, 2021.

Shift Announces Date of Annual Shareholder Meeting and Record Date

Auto Retail E-Commerce has not yet taken off, but it's normal to expect it will.

Shift: Underfollowed Stock With Great Growth And Valuation

End-to-end auto e-commerce platform Shift Technologies Inc (NASDAQ: SFT) announced the appointment of retail veteran Oded Shein as the CFO, effective after filing 10-K for FY20. Shein succeeds Cindy Hanford, who is the CFO since October 2019.

Shift Technologies Appoints Retail Veteran Oded Shein As Finance Chief

SAN FRANCISCO, March 15, 2021 (GLOBE NEWSWIRE) -- Shift (NASDAQ: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, today announced the appointment of Oded Shein as the company's Chief Financial Officer (CFO), responsible for all Finance, Accounting and Business Operations functions.

Shift Technologies Appoints Retail Industry Veteran, Oded Shein, as Chief Financial Officer

Shift Technologies, Inc. (SFT) CEOs George Arison and Toby Russell on Q4 2020 Results - Earnings Call Transcript

SAN FRANCISCO, March 08, 2021 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported fourth quarter and annual financial results for the period ended December 31, 2020. Management's commentary on fourth quarter and 2020 financial results and first quarter and full year 2021 outlook can be found by accessing the Company's shareholder letter on investors.shift.com, or by listening to today's conference call. A live audio webcast will also be available on Shift's Investor Relations website.

Shift Announces Record Revenue & Unit Sales in Q4'2020, with Strong Growth Momentum for 2021

SAN FRANCISCO, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, announced today that it will report fourth quarter and fiscal year 2020 financial results for the period ended December 31, 2020, following the close of the market on Monday, March 8, 2021. On that day management will host a conference call and webcast at 2 p.m. PT (5 p.m. ET) to discuss the company's business and financial results.

Shift to Report Fourth Quarter and Fiscal Year 2020 Financial Results on March 8, 2021

Happy New Year! We kick off 2021 by working out some of the key trends from the year that passed. We speak to Co-CEO George Arison of the newly public Shift Technologies about how 2020 turned into a successful year for Shift's used-car sales business.

SPACs And COVID Winners With Shift Co-CEO George Arison (Podcast)

SAN FRANCISCO, Dec. 24, 2020 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ: SFT), “ Shift ,” a leading end-to-end ecommerce platform for buying and selling used cars, today announced the completion of its previously announced exchange offer (the “Offer”) and consent solicitation relating to its publicly traded warrants. The Company was advised that 6,980,262 publicly traded warrants, including 3,958 public warrants tendered through guaranteed delivery, representing approximately 92.7% of the total public warrants outstanding, were validly tendered and not withdrawn prior to the expiration of the Offer. The Company expects to issue an aggregate of 1,745,078 shares of Class A common stock (“Common Stock”) and pay $6,980,262 in cash in exchange. The Company also executed an amendment to the warrant agreement governing its outstanding warrants and expects to exchange all remaining outstanding warrants on January 8, 2021 in exchange for an aggregate of approximately 124,253 shares of Common Stock and $497,009 in cash (the “Redemption”).

Shift Announces Completion of Exchange Offer and Plan to Exchange Remaining Outstanding Public Warrants

SAN FRANCISCO, Dec. 1, 2020 /PRNewswire/ -- Leading used car ecommerce platform Shift (NASDAQ: SFT) has announced a fourth acquisitions market in Texas with the addition of Dallas. Beginning Tuesday, Dec. 1, consumers can start selling select vehicles to Shift in both of these markets....

Shift Launches Fourth Seller Market in Texas

SAN FRANCISCO, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ: SFT), “ Shift ,” a leading end-to-end ecommerce platform for buying and selling used cars, today announced that it has commenced an offer to exchange (the “Offer”) relating to its outstanding publicly traded warrants (the “Public Warrants”). Shift is offering to exchange 0.25 shares of its Class A common stock (“Class A Common Stock”) and $1.00 in cash, without interest (together, the “Exchange Consideration”), for each Public Warrant tendered.

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