Women’s History Month 2021: Celebrating Our Team

In recognition of Women’s History Month, we’re showcasing some of our amazing women from all areas of our company each week. This week we are spotlighting four standout folks on our Corporate team.

Finance & Accounting

Cindy Hanford

Cindy Hanford is our Chief Financial Officer. Including Shift, she’s worked for a variety of retail companies: from cars, bikes, snowboards, and skateboards, to sneakers, teeshirts, and wine.(Her favorite was the wine.)

Cindy is passionate about working together to find ways to make car buying fun and fair for consumers while also bringing benefits to our shareholders. She attributes part of her success to the talented folks here at Shift.

Fun Facts:

  • Cindy has ridden a bicycle across the state of Iowa more times than she can count
  • She’s traveled to many places including Nepal Annapurna circuit, Patagonia, Easter island, Machu Picchu, Costa Rico, and Bolivia
  • She’s also gone diving around the world; Galapagos with hammerheads and sea lions, Raja Ampat with Mantas, Maldives, Belize, Indonesia and even in Thailand

 

Blima Tuller

Blima Tuller is the SVP of Accounting and Controller at Shift. Before coming to Shift, Blima worked as a Chief Accounting Officer in the Ad Tech industry.

She joined Shift because “Shift is a dynamic company where you can really make a difference and see the impact of what you work on each day. No two days are the same.” Blima has worked on a variety of projects while building out a best-in-class public company accounting function.

Fun Facts:

  • Blima is a mom of 4 (3 boys & 1 girl), and grew up as a middle child of 5
  • She loves to hike in the mountains around LA
  • She is a big LA Dodgers fans, and try to get to as many games as she can each season

People Ops & Recruiting

Tiffany Lee

Tiffany Lee is a People Ops Coordinator at Shift. Before Shift, she worked in the talent field after getting her M.S. in Industrial/Organizational Psychology. She feels empowered by Shift being incredibly fast-paced, and there’s always something new to dive into.

Tiffany is a huge employee advocate, and she loves being able to witness fellow Shifters discover, develop, and leverage their strengths and passions to grow in and out of departments. She has onboarded and oriented 250+ employees since her time here!

Fun Facts:

  • Tiffany has an ongoing list of her favorite places to eat in SoCal that she shares on request
  • She really love games (e.g., board games, card games, video games, etc)
  • She is a sucker for 70s and 80s music

Join our team! Check out open roles at Shift.

Krista Holloman

Krista Holloman is a Technical Recruiter at Shift.  Before Shift, she was managing a multi-disciplinary wellness and physical therapy practice after getting her  degree in biology and quantitative science.

She joined Shift because of the people. As she says,”We have built a team of talented, intelligent, humble, and creative individuals of different backgrounds. And on top of that, people truly care about each other and our mission. That’s hard to find, but I’m lucky enough to have found it here!”

She enjoys getting to talk to some of the most talented people in the industry on a daily basis, and working to pair them with opportunities at Shift. The most fulfilling thing for her is seeing teammates come together to create new and improved products that ultimately make the car buying process better for customers.

Fun Facts:

  • She is a classically-trained soprano and sings at weddings & events as a side hustle
  • She loves really terrible soap operas
  • Her latest hobby is floral arrangement

We’re always looking for amazing people like these to join our growing team. Interested? We’re hiring!

Shift’s Presidents’ Day Sale 2021

UPDATE 2/18

Terms & Conditions 

More information about purchasing a car online can be found here.

The President’s Day Promo Extension $250 discount is available to Washington and Oregon residents with use of a valid promotional code. 

The only way to guarantee a car’s availability or pricing is through online purchase or placing a nonrefundable deposit. We do not guarantee the availability of any car or pricing of any car beyond what is currently listed on the website. 

Customers may place a $250 nonrefundable deposit to reserve their vehicle before or after a test drive and/or initiate an online purchase; the deposit is nonrefundable and will apply towards the purchase of the vehicle on which it was placed only.  For any nonrefundable deposit placed on a car during this promotion, the purchase must be fully completed by 7:59 pm PST on February 28, 2021 unless otherwise stated to receive the accompanying discount. 

Cars purchased from Shift prior to the promotion are not eligible for retroactive discounts, price adjustments, or other modifications and cannot be redeemed for cash.

The President’s Day Promo Extension ends February 20, 2021 at 7:59 p.m. PST or while supplies last.  The President’s Day Promo Extension, including, but not limited to, all timing, prices, and inventory, is subject to change without notice and is subject to end at any time without notice. Exclusions may apply.

Continue reading “Shift’s Presidents’ Day Sale 2021”

Sell your Car to Shift for more with our Bonus Credit

Sell your car for top dollar

We’re offering more on certain makes and models, plus a bonus credit if you meet certain requirements when you sell your car to us.

Selling your car to Shift is a no-brainer. Here’s how it works in a few simple steps:

  1. Get a quote for your car
  2. Lock in your estimate
  3. Book an evaluation: We’ll come to you to give your car a once-over, and assuming all checks out, we’ll literally take it from there.
  4. Get paid! Payment will be transferred directly to your bank account.

For a limited time, we’re offering a bonus credit just for selling us your car quickly. See the details below!

Get an estimate

Here are the official rules:

The Seller Preparedness Credit is available to any customer selling their car to Shift who meets the following requirements:

  • Customer is prepared at their first evaluation appointment with:
    • Complete set of car keys (one or two keys as applicable)
    • Valid driver’s license of the car owner
    • Signed title and 
    • Current registration
    • Loan or lease payoff statement (if applicable)
  • Customer completes the sale to Shift at this first appointment. 

The Seller Preparedness Credit is $400 between 2/5/2021 at 2 pm PST and 2/15/21 at 8 pm PST. At all other times, the credit may be a different amount. 

The credit will be applied to the final payment made to the customer, and is contingent upon a successfully completed transaction. All other stipulations of the sale apply, including but not limited to the sale transaction being canceled due to the vehicle’s final inspection at a Shift Hub after the sale. Shift reserves the right to cancel a transaction per the Seller Agreement presented at the time of sale. Exclusions apply. 

Customers who receive the Seller Preparedness Credit are still eligible for other offers when purchasing a car from Shift. 

The amount, viability, and other details of the Seller Preparedness Credit are subject to change without notice. 

Shift’s Road Ahead Sale 2021

Terms & Conditions

More information about purchasing a car online can be found here.

The Road Ahead Sale $500 discount is valid on Shift vehicle inventory with use of a valid promotional code. All shift Sale Cars marked with additional strike-through savings are also eligible to receive an additional $500 off with use of a valid promotional code.

The only way to guarantee a car’s availability or pricing is through online purchase or placing a nonrefundable deposit. We do not guarantee the availability of any car or pricing of any car beyond what is currently listed on the website.

Customers may place a $250 nonrefundable deposit to reserve their vehicle before or after a test drive and/or initiate an online purchase; the deposit is nonrefundable and will apply towards the purchase of the vehicle on which it was placed only. For any nonrefundable deposit placed on a car during this Sale, the purchase must be completed by 11:59 pm PST on January 19, 2021 unless otherwise stated to receive the accompanying discount.

Cars purchased from Shift prior to the promotion are not eligible for retroactive discounts, price adjustments, or other modifications and cannot be redeemed for cash.

The Road Ahead Sale ends Tuesday, January 19, 2021 at 11:59 pm PST or while supplies last. The Road Ahead Sale’s timing, prices, and inventory, is subject to change without notice and is subject to end at any time without notice.

The “2020 is Finally Over!” Sale: Terms & Conditions

Terms & Conditions 

The 2020 is Finally Over Sale is only guaranteed until 8 P.M. Pacific Time on December 31, 2020 or while supplies last. 

Customers may place a $250 nonrefundable deposit to reserve their Sale vehicle before or after a test drive and/or initiate an online purchase; the deposit is nonrefundable and will apply towards the purchase and must be placed on a vehicle prior to 8 P.M. Pacific Time on December 31, 2020. 

Cars purchased from Shift prior to the promotion are not eligible for retroactive discounts, price adjustments, or other modifications. 

The 2020 is Finally Over Sale promotion, including, but not limited to, all timing, prices, and inventory, is subject to change without notice and is subject to end at any time without notice. 

 

Shift 2020 Holiday Sale – Terms & Conditions

Terms & Conditions 

More information about purchasing a car online can be found here.

Sale and Daily Deal prices are only guaranteed until midnight Pacific Time each day of the promotion; these prices are subject to change on any following day. 

For Sale cars, Daily Deal cars, and all other cars on Shift.com, the only way to guarantee a car’s availability or pricing is through online purchase or placing a nonrefundable deposit for Sale Cars. We do not guarantee the availability of any car or pricing of any car beyond what is currently listed on the website. 

Customers may place a $250 nonrefundable deposit to reserve their Sale vehicle before or after a test drive and/or initiate an online purchase; the deposit is nonrefundable and will apply towards the purchase. 

Daily Deals operate as 24-hour limited pricing, valid only for online purchases and are not eligible for test drives prior to purchase. Daily Deal pricing on specified vehicles is only valid until midnight Pacific Time on the day on which those vehicles are listed as a Daily Deal; after that time, the Deal will end. Daily Deal vehicles are available while supplies last, on a first-come, first-serve basis. In the event that a customer wishes to see a Daily Deal vehicle in person at one of our hub(s) they are welcome to do so, granted that there is no other deposit placed on the vehicle. The customer must place a deposit on the vehicle to reserve it for their purchase and eligibility for any accompanying discounts. The first person to place a deposit on a vehicle effectively initiates the purchase process, and reserves the right to purchase that vehicle. 

For any nonrefundable deposit placed on a car during this promotion, the purchase must be completed by 12/31/2020 unless otherwise stated to receive the accompanying discount.  

Cars purchased from Shift prior to the promotion are not eligible for retroactive discounts, price adjustments, or other modifications. 

The “Everyone Loves a Holiday Sale” Sale promotion, including, but not limited to, all timing, prices, and inventory, is subject to change without notice and is subject to end at any time without notice.

For any questions, please contact customer support at :

support@shift.com or 855-744-1445

 

 

Shift’s Founding Story: Reflecting on our History for this New “Day One”

By George Arison & Toby Russell 

Co-CEOs, Shift

We are excited to announce that Shift is now a public company, trading on Nasdaq under the ticker symbol SFT. This comes four months after we announced plans to become one of the first companies in Silicon Valley to pursue a Special Purpose Acquisition Company (SPAC) transaction by combining with Insurance Acquisition Corporation, a SPAC sponsored by Cohen & Company. 

As founders, both of us believe that the best way to build a company is charting the path to take it public. Of course for most entrepreneurs, this never happens, since so few companies, including the very successful ones, ever get the chance to be in the public market. We are so very fortunate to be reaching this milestone less than seven years since being incorporated, and just 26 quarters since selling our “first” car. 

Getting the company to this stage is an incredible team effort and we wanted to recognize and congratulate everyone whose contribution has played a part in making this happen. We owe a tremendous thank you to Shift’s current and past employees who believed in the company’s vision to transform the auto industry for good and have worked so hard to pursue our mission to make car purchase and ownership simple and accessible to everyone. We are so very appreciative of everyone keeping the eye on the ball and executing. Without you, Shift could not be where it is and today would not have been possible. 

We also owe a deep appreciation to all of our customers. There is tremendous joy in delighting users and helping them improve their lives through a purchase of something that is so consequential. A car is, after all, a means to get around, to get to and from work and school, to take family trips, to make life happen. And a car is the largest single item most Americans will ever own outright. Finding and buying the right car should be a fun and fair experience. We are grateful to all the customers who have used the Shift way to buy or sell their cars. 

Lastly, Shift would not be possible without the trust and support of the many investors who have been with us on this journey. Thank you to everyone who has been willing to put the necessary capital investments behind our project, from our earliest investors in our seed round to investors who supported our SPAC transaction, and everyone in between.

Our road has not always been easy; it has come with many ups and downs. At our core, we’ve always believed that the seemingly impossible can be made possible — that we could achieve what most thought could not be done. To do this, we’ve been helped by a lot of grit and determination. This is a great time to take stock of what we’ve accomplished and celebrate this big win.

Being public, of course, is not the end of our journey, but rather, the beginning of a new chapter in our company’s growth. In the coming months, quarters, and years, we need to continue to be laser focused on execution, on delighting customers, on hitting numbers, and on creating shareholder value, like we have been as a private company. Through this transaction we raised capital that will allow us to invest in scaling our business and ensure that more and more customers have an opportunity to experience the Shift way of buying and selling their cars. As a company, we have always been judicious about our spend, and we will continue to be so in the future, even as we invest in building a stronger brand, expanding our operations, creating new technology, and launching new markets. 

For now — we wanted to congratulate everyone who has been part of our journey. We are deeply grateful and look forward to a great future as a public company!

As we make this transition, we’re reflecting too on our founding story — how Shift all got started. 

A little over nine years ago, the two of us were having one of our regular weekend conversations about company ideas when Toby told George about the challenges he was having buying a car. Toby wanted to go to a specific dealer (a huge company he had used a couple of times before) and finance the car using the bank where he worked, but the bank would not work with the dealer, so the transaction could not go through. As it turned out, George had just gone through a very similar experience trying to get a loan to buyout his leased vehicle — all the banks directed him to a dealer to get a loan, and the dealer eventually approved him for a loan with the very banks that said no to him earlier. 

These experiences got us wondering why dealers had so much control over the auto financing process. We started to investigate, and spent nearly two years talking to dealers, auto lenders, customers who bought cars at dealerships, and individuals who engaged in private party transactions. We realized that there was a huge opportunity to use technology to transform the car purchase experience. 

In mid-2013 George started to work on the idea full time, initially contacting car sellers on Craigslist, trying to get them to engage on the first product concept: to offer their prospective buyers a warranty. It was during these interactions that sellers would ask if we’d be willing to take their cars and sell them on their behalf. The whole concept seemed crazy since the team was working out of George’s apartment, was using Toby’s and George’s savings to fund the testing, had no insurance, and would need to park cars on the street. Yet, by end of the year we had about a dozen cars parked on the street in the Castro district of San Francisco that we were trying to sell. 

Shift has come a long way since then. It has been our continued determination to build a thriving company that outlasts us that has gotten us here, and we are excited to be listing on Nasdaq. And while it was a thrilling road to get to this point, the best is yet to come. To paraphrase the great Jeff Bezos, from whom we’ve learned so much, reset your clocks, Day One starts now. 

– George and Toby 

 

Shift Adds New Directors to its Board

Today we are excited to announce three new members of Shift’s Board of Directors as we prepare to complete our de-SPAC process and become a public company: Adam Nash, Kellyn Kenny, Victoria McInnis. Adam has been formally on our board since May, when we started the SPAC conversations, and Victoria and Kellyn will be joining concurrently with our public listing. 

Over the years, we’ve been thinking about how we wanted the board configured as the company grows. As a soon-to-be-public company, there were several factors we deemed critical in choosing these members, including:  

  • Technology and product experience: Shift is, at its core, a technology innovator, and we believe it is critical to maintain that DNA on the board as we scale. Adam has paved the way for groundbreaking consumer technology products, serving as CEO of Wealthfront, early Vice President of Product at LinkedIn, and Vice President of Product at Dropbox. Adam has been an angel investor in Shift from the earliest days, and he has been a valuable voice on the board throughout the period that we’ve been working on the SPAC transaction. We are excited to have a strong product and technology voice among our directors as we continue to create amazing products for our customers. 
  • Brand marketing experience: A key part of Shift’s go-forward strategy is to use a variety of tactics to build our brand, both in our existing markets and new markets as we enter them. Because of this, having a board member  with a strong marketing background is valuable. This is why we are so excited about Kellyn, who as the most recent CMO of Hilton has extensive marketing leadership chops, and has over her career worked on building iconic consumer brands such as Capital One (one of the largest automotive lenders and stand out brand in a considered purchase category), Uber, and Microsoft.
  • Audit and financial controls experience: As a public company, we will face a new level of requirements as related to our internal controls and audit. To this end, having an audit chair who has intimate experience with managing the audit process and can help us implement the right procedures for Sarbanes-Oxley is critical. Victoria has incredible experience in these areas, as Vice President for Internal Audit and Chief Tax Officer at General Motors. In addition to her audit experience in the automotive industry, she has been part of a SPAC transaction, so has experience with the type of transaction we are doing for Shift.  She will be a fantastic addition to our board on a strategic level and as Chair of our Audit Committee. 

We still have two board seat searches ongoing that we will aim to fill in the coming quarters. These are build around these key criteria: 

  • Public company CEO and founder experience: We believe that Shift and our senior management would benefit greatly from a board member who has extensive experience as a CEO and company builder of a public company, who can help us think strategically about our long-term objectives and how to build a lasting company, and be a strong mentor and coach to us as we grow the business. 
  • Public capital market experience: As a public company, Shift will be an active participant in public capital markets. We see great benefit in bringing on a director who has deep relationships in the financial markets and can help us navigate the many nuances and complexities that come with being a publicly traded company. This could be either an experienced and well respected CFO, an investment banking leader, or a former CEO who navigated capital markets extensively. 

In the coming quarters, we expect that certain of our existing pre-public board members will transition out, after many years of dedicated service to Shift, and we will look to replace them with directors who can further round-out the board by bringing a new set of backgrounds and experiences to the table. As we have previously, our goal is ensure that we have a diverse board and we are able to draw on candidates with varying backgrounds. 

We also want to express deep gratitude to Emily Melton and Manish Patel, who have served on Shift’s board for nearly six years, to Jason Krikorian, who has been an investor for six years and a board member for two, as well as to our previous board members who have served Shift over time, for all the hard work that they have put in over the years to help Shift succeed. We appreciate Emily, Manish, and Jason’s willingness to stay on the board for the next few quarters helping ensure continuity as we onboard new directors.

We couldn’t be more excited to welcome Kellyn, Victoria, and Adam to our team as we continue to build the platform for making car purchase and ownership simple and accessible to everyone. The added strength, diversity and leadership they bring will be invaluable as we become a public company.

Best, 

George and Toby 

Shift is going public this year

Shift to go public later this year by agreeing to combine with INSU today

We are very excited to announce that Shift has entered into an agreement to combine with a special purpose acquisition company (SPAC) called Insurance Acquisition Corp. (NASDAQ: INSU).

As part of the business combination, INSU has raised $185MM in commitments from investors to purchase INSU equity capital, which cash would be available to the combined company following the completion of the business combination, in addition to potential proceeds from the SPAC trust, which currently stands at >$150MM.

We last wrote on our blog in late March when we had to announce some very painful decisions that affected our team and business stemming from the COVID pandemic and economic uncertainty. Facing some of the most challenging headwinds we could have ever imagined, our team nonetheless persevered, continuing to service our customers as they searched for alternative means of transportation. To be here now, announcing this milestone, is a testament to our incredible team that has worked so tirelessly to bring Shift to this stage.

Shift started selling cars in 2014 with a mission to simplify buying and selling of used cars. Offering consumers a complete car buying and selling relationship, it has combined a powerful technology platform with an omnichannel sales approach to redesign the car buying experience, especially through our patented test-drive-delivered-to-customer service. By combining its ability to quickly and accurately evaluate, price, recondition and sell cars across the entire value spectrum with its unique white glove service, Shift has seen meaningful market penetration in its core markets as customers appreciate the breadth of selections and convenience.

This transaction represents a tremendous opportunity for our company. Once completed, we expect it to significantly enhance our ability to scale our technology and operations, accelerate our growth, and continue on our mission to make car buying simple, fair and accessible to all. We are targeting to finalize the combination toward the end of Q3’2020, following the SEC review process and the completion of various conditions to closing, including among other things certain regulatory and stockholder approvals.

We want to close out with a huge shout-out to the many people who’ve helped us along the way. We’ve known each other for nearly 25 years, and each of our journeys in life and business reflect the incredible promise and opportunity of our wonderful country, in which entrepreneurship is able to flourish unlike anywhere else. None of this would be possible without the support of so many who have been with us along the way, both at Shift and in life. From our teachers and mentors, to our investors, to the hundreds of team members who have worked at Shift over the years, to our families and friends who have put up with us working non-stop hours, we owe a huge thank you.

Of course, today’s announcement is a big deal for Shift, but the hard work does not stop now. We are excited about what lies ahead. Onward!

George & Toby

Continue reading “Shift is going public this year”

Finance First Credit

Finance First Credit – Terms & Eligibility

Shift customers may be eligible for a $400 finance credit if they meet all of the following requirements in this order:

      1. Apply and be approved for a loan through Shift before your scheduled appointment.
      2. Buy the car during their first test drive appointment.
      3. Obtain Shift financing during the first test drive appointment.

Promotion begins 6/18/20. Cannot be combined with another promotion. Cars purchased online are not eligible. Prequalification does not apply. Customers who do not get approved for financing, do not obtain financing through Shift or who do not apply for financing prior to a test drive are not eligible. Customers must purchase the vehicle at the time of their first appointment to be eligible for this promotion. Promotion credit subject to change without notice.