Shift

“When you look at our inventory we have cars that are anywhere from zero to you know, 12 years in age, whereas Vroom only has cars that are roughly, you know, zero to four years in age because if there's no test drive involved, it's kind of hard to convince som…”

“We agreed to a guaranteed minimum price with the seller, which is usually you know, way above the trading price, but below the price that we're selling the car for. And then when the car is sold for a price above the minimum, the difference between the minimum…”

“Series A was 24, and Series B was 50.”

“So the buyer also pays a fee for using the shift service. And then lastly, you know it depends on the kind of car they're buying and the price of the car. So it ranges from one 95 to four 95, depending on the value of the car.”

“Yes, we definitely beat a million bucks in 2015.”

“Well, so in 2015, we were growing roughly 20% month over month sometimes faster and, you know, first quarter of this year, likewise, we were growing about 20, 30% month over month. Now we slow down to the roughly, you know ten-inch percent month-for-month in o…”

“I think we've seen about 20,000 installs on any given day or week. I think we have, on any given week, we have about 10,000 active users. And our free, our kind of, our free to pay conversion rate is around the four to five percent mark right now.”

“The business model is is simply, you know, software as a service, it's 20 dollars a year.”

“As much as we love that business and it has been very good to us around quickly over the years and helped us build what we have today. It's not it's not predictable. It's not consistent. We can we, you know, it's really hard to continue to grow a business when…”

“As those, the number of integrations goes to infinity, our shift becomes a browser. So, so so I really want to avoid that and continue to make the focus of shift mostly on communication and a little bit of productivity as far as how it's linked to those primar…”

“I think if you look at you know, the browser model, when it comes to how sessions work, it's not an easy thing to build the experience that we built with shift within the browser, just the technical restrictions on how browsers are built.”

“Carvana, which is a public company, they've been public for about three years now. They got started out of a larger dealership chain, kind of as a digital play. So they went public in 2017. In 2016, they did about 17,000 cars. And about three hundred million i…”

“I think in practice, there's going to be a bunker mentality out there for 60 to 90 days. And so nothing's going to happen. And I think we all need to bunker down and kind of get ready for that.”

“And we have a segment in our business that we call Value Auto. So these are cars that are below 12,000 dollars in price and over 80,000 miles on them. They're actually very, very popular. You would be surprised, but the twice as much demand is for the happens …”

“Overall we've grown roughly 30 to 50% every year we've been around. And if you could take our Cager in terms of volume, and we finished last year with 11,500 cars.”

“But I think, like, we are trying to, probably trying to get to a place where 60% of our revenue comes from the cars and 40% comes from loans and warranties over the next 1824 months.”

“Yeah, so we, 65% do financing, but that's actually low compared to a traditional dealer. Ok. A traditional dealer, that number's closer to 80%.”

“But what you learn over time is that until you're doing about a hundred million dollars of securitization every quarter it's too expensive to do your own loans.”

“Because if we do the revenue and the volume that we're projecting, we'd be in fairly good shape to go public next year. Now, again, who knows what happens and things might get delayed and change and whatnot.”

“It varies between low and fit, 30 days, high end, 55 days. It depends on the type of inventory we're dealing with. More expensive cars take longer to sell.”

“No, we made probably, like, 10, maybe fifteen million in loan and warranty last year.”

“Our unit economics generally have been a lot stronger than theirs were prior to IPO.”

“Now it's a pretty big part of our business. It's about 20 to 25 to 30% of our business.”

“I don't know what Carvana's read right now, but when they went public, I think it were at a 120 days. It was definitely, definitely shorter than their IPO”

“Our unit economics generally have been a lot stronger than theirs were prior to IPO.”

“And if you could take our Cager in terms of volume, and we finished last year with 11,500 cars.”

“No, we made probably, like, 10, maybe fifteen million in loan and warranty last year.”

“We are trying to probably trying to get to a place where 60% of our revenue comes from the cars and 40% comes from loans and warranties over the next 1824 months.”

“Until you're doing about a hundred million dollars of securitization every quarter, it's too expensive to do your own loans.”

“I think what really matters is volume. Like once you're past 15,000 cars a year, I think it's credible to go out public. At least based on what I'm hearing from investors, right? I've spent a lot of time with public market investors, and that's kind of their g…”

“We raised about two hundred twenty five million in equity and seven family in debt.”

“65% do financing.”

“You would be surprised, but the twice as much demand is for the happens for those cars. That's where everything else even though they're older.”

“And that was a pretty big part of our business is about 20 to 25 to 30% of our business.”

“That's available in all of California and all of Oregon. And then if you want to buy a car, you have three ways to buy a car. You can either have a test drive be brought to you at your house or your office or you can come to our warehouse to look around, kind …”

“So my hunch is that demand for used cars over the next couple of quarters is going to jump because of everything that's kind of going on.”

“So eventually, you know, out in 20, 24, 25, we will do capital loans, but we just need to grow to be large enough before we can do that.”

“We've serviced about 60,000 customers in the life of the company on both the sell side and the buy side.”

“It varies between low and fit, 30 days, high end, 55 days.”

“Our average price ranges by time of year and kind of how we manage the inventory, but somewhere between 15 and 17,000 dollars.”

“We work with a lot of large internet companies like Walmart, some of the large companies in the U S as well. Penske motors, one of them shift. So some of these like very, very large companies work with us to create their catalogs.”