SHIFT TECHNOLOGIES, INC.
shift.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Aug 11, 2023. Its latest SEC filing is a 15-12G from Nov 27, 2024.
10-Q for Q2 FY2023, filed Aug 11, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Sells used cars to consumers through an online platform and retail locations, and buys used cars from consumers and partners for resale.
10-K for FY2022, filed Mar 31, 2023Shift Technologies, Inc. ("Shift", the "Company") is a consumer-centric omnichannel retailer transforming the used car industry by…View ↗
Following the merger with CarLotz, Shift has adopted an omnichannel distribution strategy. A car purchase can be complicated and is…View ↗
Unique Inventory: We source the vast majority of our vehicles from consumers and third-party consumer facing partners who use the Shift…View ↗
Who Were Their Customers?
Consumers buy cars through the ecommerce platform or at retail locations, and sellers can submit vehicle information online for an offer; lending and vehicle-protection partners support purchases.
10-K for FY2022, filed Mar 31, 2023Following the merger with CarLotz, Shift has adopted an omnichannel distribution strategy. A car purchase can be complicated and is…View ↗
The Shift technology platform provides a seamless consumer experience for buying a car - from the search and discover experience on the…View ↗
Unique Inventory: We source the vast majority of our vehicles from consumers and third-party consumer facing partners who use the Shift…View ↗
We utilize several top banking partners to finance purchases of our vehicles by customers who desire or need such financing. We also offer…View ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2023, filed Aug 12, 2023
−$25.8MView ↗
- ▼ −51% (Loss)
- vs −$52.2M in Q2 FY2022
10-Q for Q2 FY2023, filed Aug 11, 2023
Open tableView ↗
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Oct 16, 2024
Company dissolved after ceasing all operations
Under the liquidation plan, assets are to be transferred to a trust for creditor distributions.
Sources
8-K, filed Oct 16, 2024
All operations of the Company have ceased, and the Company has dissolved, as of October 11, 2024. Pursuant to the Plan of Liquidation, the…View ↗
From acquisition search to used-car sales
Earlier, it had no operating revenue and sought to acquire a business, with a focus on insurance; the latest report describes a retailer buying and selling used cars online and through stores.
10-K for FY2019, filed Mar 25, 2020 10-K for FY2022, filed Mar 31, 2023
Who Did They Compete With?
Competes with Facebook, Craigslist, OfferUp, eBay Motors, Nextdoor, Carvana, Vroom, Hertz, and Enterprise
10-K for FY2022, filed Mar 31, 2023traditional new and used car dealerships; the peer-to-peer market, utilizing sites such as Facebook, Craigslist, OfferUp, eBay Motors and…View ↗
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