Shift and Lithia’s Strategic Partnership in the News

Lithia to provide Shift with capital and facilities to grow

Shift Technologies has quickly become one of the largest used car retailers in California. By investing heavily into its online platform and sophisticated pricing algorithms, Shift continues to streamline the car buying and car selling experiences and make them much more user-friendly.

Lithia is the fourth largest auto retailer in the US, operating 160+ stores in 18 states. With this new partnership, Lithia will be able to provide greater vehicle storage capacity, reconditioning facilities, and access to capital to expedite Shift’s growth and expansion.

News roundup: Shift & Lithia’s new partnership

The recent $140 million Series D funding and partnership has been making the rounds. Learn more from a selection of news articles below.

Auto Portal Watch: Shift, a US-based online used car marketplace, raises $140 million

Auto Remarketing: Lithia leads $140 million financing round in Shift

Auto Remarketing: Lithia investment, partnership can drive Shift scalability

In an early meeting between the companies, the management at Lithia Motors posed this question to the co-CEOs of Shift, an online automotive marketplace: “Since all this stuff is so good and it works so well, what’s preventing you from scaling this thing quicker?”

The answer Lithia got back “really opened our eyes up to the potential synergies between the two companies,” Lithia chief executive Bryan DeBoer said in a conference call with investment analysts last week.

Automotive News (subscription required, but accessible for free if you search via Google): Lithia invests in alliance with used-car startup

Shift Technologies’ appraisal algorithms and consumer-controlled online platform helped it quickly become one of the largest used-car retailers around Silicon Valley. So Lithia Motors Inc. CEO Bryan DeBoer posed this question in a meeting with Shift’s senior leadership: Why haven’t you scaled up that model at a faster pace?

“They said they didn’t have the capacity of storage, reconditioning facilities and access to capital,” DeBoer told Automotive News. “Three items Lithia has easy access to.” …

Continue reading “Shift and Lithia’s Strategic Partnership in the News”

Shift Raises $140 Million Series D. Partners with Lithia.

We’re Partnering with Lithia, and have $140 million more in the bank!

At Shift, we recognize that mobility comes in many forms. Whether you’re biking across town, navigating the subway, or driving a car, everyone should have access to safe, reliable, and affordable transportation. Having a car affords you the freedom and flexibility to always get where you need to be, whether it’s a last minute trip to Yosemite or a quick run to the market.

Access to car ownership isn’t merely a convenience; it changes people’s lives. And good things happen when people have mobile freedom.

For the last four and a half years, we’ve been on a mission to make car purchase and ownership simple by building a technology platform that brings fun and fairness to the car marketplace. And today, we make a big step in our journey forward.

We’re excited to announce our Series D of over $140 million led by Lithia (NYSE), one of the nation’s leading auto retailers. We’re also launching a national partnership with Lithia, which will help us scale the product our customers love to more locations quickly.

Continue reading “Shift Raises $140 Million Series D. Partners with Lithia.”

7 Tips to prepare your car for sale

Make your car beautiful (as possible)

Preparing your car for sale is super important if you want to maximize your sales price. A buyer is going to probably make up their minds about whether or not they want to buy your car as soon as they look at it. Whether looking at a picture of your car online or in person, you will only have a few moments to convince the person to take a closer look. So whether you choose to sell to a “private party” through a listing on craigslist, opt to trade-in to a traditional dealer, or use a full car selling service like Shift, it is very important to make sure your car looks clean and appealing.

Here are some tips to prepare your car for sale and increase it’s curb appeal!

1) Clean up your car

Let’s start with the most obvious: clean your car. Simple, yet you will be surprised how many cars are put up for sale without proper cleaning. This has to be more than just spraying the car with water. It’s the little things that could make your car look appealing and push people over the fence with hopefully a good offer. Consider the following:

  • Wash & vacuum your car.
  • Clean out your car of your belongings. Your entire car and trunk should be empty of all belongings.
  • Wipe down your wheels and hubcaps.
  • Wipe down your dashboard with car cleaning products so it looks new.
  • Wipe down your mirrors and windows inside and out.
  • Wipe down leather seats with a leather cleaner.

If you don’t have the time or are too lazy, you can always get it detailed or use a service that does it for you. Continue reading “7 Tips to prepare your car for sale”

National Shift Survey on Car Buying

Today we’re releasing data collected from our National Shift Survey on consumers’ experiences with car buying and selling, as well as their opinions on everything from ridesharing to seat warmers.

Drumroll, please….

The Industry Needs a #METOO Movement
Nearly 90 percent of women have felt spoken down to, belittled, or disrespected during the car buying/repair process. Sadly, we shouldn’t be surprised. Data shows car buying is ripe with discrimination and abuse, especially for women and people of color. The status quo is unacceptable – the industry can – and must – do better.

Car Ownership is Here to Stay
We’ve been saying this one for years. The conventional wisdom is wrong about the future of car ownership. According to our data, more than 87 percent of people have no intention of getting rid of their cars for ridesharing. Which makes sense. Have you ever tried strapping a car seat in an Uber? Continue reading “National Shift Survey on Car Buying”

How to make the most of your engineering internship

Are you about to start an engineering internship and are wondering how you can optimize your time there? Or maybe you’re starting your first full-time job and want to get started on the right foot. Throughout my internship at Shift and other past internship, I have learned many invaluable lessons that helped me grow as an engineer and perform well at my internships. Here are some of the lessons and tips that I find most important to optimize your internship!

Be customer focused

Whether you’re building a new consumer-facing feature or internal tool, you should always be thinking about your users and customers.

Who are the users of your project? Are they engineers, data scientists, or car buyers? Are they technical? What is going to bring the best user experience to them? Understanding your users will help drive the direction and vision of your finished product.

Why are they using it? Are they using the product to buy/sell a car, for entertainment, or something else entirely? This is a question to address early because if you can’t think of any reason why they would use what you’re building, you should hold off on writing code. Instead, talk to your manager, designers, and even customers to get a better understanding of why people would want your feature. This step will also help you understand the leverage and impact of your project! Continue reading “How to make the most of your engineering internship”

Getting Started with Go: 3 Tips for Engineering Interns

When I received my first code review as a fresh new engineering intern, I was horrified. How could I have received 87 comments on a 50 line code change? After getting A’s in all my CS classes, how could I be so unprepared for programming in the real world? After taking a deeper look at the comments, I realized that my fundamentals were fine, I simply didn’t know any of the industry style guidelines or best practices. The code review comments were extremely helpful in teaching me the industry standards for programming in Go. To help any future engineering interns, this blog post is a list of the three Go styles and best practices I wish I had known before I started my internship.

Continue reading “Getting Started with Go: 3 Tips for Engineering Interns”

10 Used Car Spring Deals You Don’t Want To Miss

Brace yourselves—Spring is coming! A new season brings in some new, awesome deals. We asked our pricing team to find you the some sweet deals on new rides to jumpstart the season. These cars are yours to test drive and buy at amazing below-market prices. Read on, and book a test drive now! Remember, we’ll bring the cars out to you wherever you are, whether you’re at home or at the office.

San Francisco Spring Car Deals

2015 Ford Edge SEL AWD

Ford Edge SEL 2015

Dealership: $26,698
Shift: $20,950
You Save: $5,748CarGurus great deal

That is one shiny, sleek blue vehicle. If you are looking for a good, functional vehicle with a little splash of personality, look no further than this Ford Edge SEL. This beauty comes with the technology package. Basically all the stuff you want plus more stuff you thought you never needed. Blind spot information system, back-up camera, rear parking aid, voice activated touch screen navigation, cross-traffic alerts, auto-dimming side view mirrors, and this thing even has an outlet. And the real kicker is that it’s only got 20K miles. Yes please.

Give it a test drive: 2015 Ford Edge SEL AWD

2014 Audi S4 Premium Plus

Audi S4 Premium Plus 2014 - Black Studio Masked

Dealership: $29,676
Shift: $25,650
You Save: $4,026CarGurus great deal

You know what is better than ice cream? Premium ice cream. What is better than premium ice cream? Premium ice cream at normal ice cream cost.

Come test drive this Audi S4 Premium Plus. Save over $4K below market price. Comes with a full-on navigation system, back-up cameras, parkings aids, heated front seats, leather and basically what you would expect from a “premium” Audi.

UPDATE: CAR JUST SOLD! Find similar cars here: 2014 Audi S4 Premium Plus

2014 Chevrolet Impala Limited LT

Dealership: $11,708
Shift: $8,000
You Save: $3,708CarGurus great deal

Perhaps you are thinking, I don’t need no flashy blue tech car or a premium anything. I just want something that will get me from point A to point B, it’s reliable, an awesome deal, has some cool perks and something other than a Civic or Corolla. Well, how about a Chevy Impala Limited LT? Got a little something extra with perks like remote engine start, keyless entry, dual climate control and of course got to have that AUX input. But more importantly, at only $8K, it’s a great option to consider.

UPDATE: CAR JUST SOLD! Find similar cars here: 2014 Chevrolet Impala Limited LT

2015 Subaru Impreza 2.0i Sedan

Subaru Impreza 2.0 Sedan

Dealership:$15,706
Shift: $13,650
You Save: $2,056CarGurus great deal

So you are outdoorsy and environmentally friendly and just looking for a nice all-around car with of course, all-wheel drive. This Subaru Impreza provides just that. 28 city / 37 highway. Only ~25K miles. Perhaps this is the reliable, fun new partner you are looking for.

UPDATE: CAR JUST SOLD! Find similar cars here: 2015 Subaru Impreza 2.0i Sedan

Continue reading “10 Used Car Spring Deals You Don’t Want To Miss”

How I Used Machine Learning To Price Used Cars

Andrew Carman is a software engineer at Shift.

At the core of any market is pricing. If you get pricing wrong, your marketplace doesn’t work. Our success at Shift—as a marketplace that makes it easy for anyone to buy and sell used cars—hinges on accurately and competitively pricing cars. 

Dealerships traditionally have a team of experts that price trade-ins for customers and manage the prices of their vehicles. They haggle over those prices with buyers that come to their dealerships, and often take advantage of consumers who have less access to car price data.

Our goal is to make selling and buying a car a fun, fair, and accessible experience by using technology to disintermediate what car dealerships do poorly. So we build software instead of back-office sales teams to price our cars, which increases efficiency, levels the playing field for our customers, and lets us systematically improve the accuracy of our pricing over time.

Read on to see exactly how we did it, and pass this along to the folks who might be interested in our approach.

Continue reading “How I Used Machine Learning To Price Used Cars”

7 Handy Car Hacks That Will Make Your Life Easier

We all love our cars, but oftentimes we come across unavoidable problems and issues on the road that need a quick fix.  Below, we collected a slew of handy car hacks to make driving a breeze and tide you over until your next maintenance appointment. Read on, and share these tried-and-tested tips from Shift with your friends!

Continue reading “7 Handy Car Hacks That Will Make Your Life Easier”

10 Tips For Becoming A Better Teammate

Kate Heddleston is an Engineering Manager at Shift.

When I was first learning to play water polo, a coach told me something I’ve never forgotten. He said, “Great players make everyone around them look like great players.” A great player can catch any pass, anticipating imperfect throws and getting into position. When they make a return pass, they throw the ball so that the other person can make the catch easily.

Here at Shift HQ, software engineering is a team sport. Like water polo, you can’t build incredible software systems alone. So when I first heard the concept of the 10x engineer, I was confused. How could someone be so talented that it overshadows the power of teamwork? In my experience, individual excellence is necessary, but not sufficient, for greatness. Focusing purely on individual achievement misses the larger picture that teams are required to build great software. So I decided to change the definition of a 10x engineer to this:

A 10x engineer isn’t someone who is 10x better than those around them, but someone who makes those around them 10x better.

Over the years I’ve combined my personal experience with research about building and growing effective teams and turned that into a list of 10 ways to be a better teammate, regardless of position or experience level. While many things on this list are general pieces of advice for how to be a good teammate, there is an emphasis on how to be a good teammate to people from diverse backgrounds. Read on, and pass this along to the people you work and collaborate with on the daily!

Continue reading “10 Tips For Becoming A Better Teammate”