Shift Technologies, Inc.
"George Arison, co-founder and CEO of San Francisco-based Shift Technologies, Inc. (Shift), met with his management team in April 2017. They felt whipsawed by recent industry events. Within the past five weeks, one direct competitor had filed for bankruptcy while another had completed an IPO. Shift, founded in 2013, was an online marketplace that employed technology and people to remove friction from the process of selling and buying used cars. For sellers, Shift acted as a personal concierge service—managing inspections, repairs, listings, test drives, funds transfer, and transaction paperwork. Shift guaranteed the seller a minimum price and shared any upside above that with the seller. For buyers, Shift provided a 200-point inspection report, a test drive at their chosen location (typically their home or office), a no-haggle price, and a warranty. By eliminating showrooms, Shift was able to reduce costs and offer buyers and sellers better prices than brick-and-mortar used car dealers, while also offering greater convenience."
- 2017 President and Fellows of Harvard College
- Book Quality:
- Harvard Business School Publishing
- Date of Addition:
- Business and Finance, Nonfiction,
- Usage Restrictions:
- This is a copyrighted book.
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