SAN FRANCISCO, May 4, 2021 /PRNewswire/ -- Leading used car
ecommerce platform Shift (NASDAQ: SFT) today announced the launch
of its service to purchase cars from consumers in the Las Vegas region. With the addition of this
new market, the company's first in the state of Nevada, consumers are now eligible to sell
their cars directly to Shift in 11 geographies across the United States.
"As a business-friendly city and a major thoroughfare,
Las Vegas was a strategic choice
for our first market in Nevada. We
look forward to serving the residents of this populous metropolitan
area and bringing them an easier way to sell their cars," commented
Shift Co-CEO Toby Russell.
With Shift's car-buying service, which is now available to
consumers within the greater Las
Vegas region, consumers have an easy, fast, and transparent
alternative to the traditional methods of selling their cars. They
can begin by getting an instant, no-obligation online quote on
Shift.com. If they wish to move forward, they can then book an
evaluation appointment where a Shift Concierge will come to their
location, evaluate the car and make a final offer. If they accept,
the customer will complete the transaction digitally, including
electronic payment initiation and DMV paperwork, right then and
there using Shift's unique iPad app. Start to finish, evaluation
appointments take approximately one hour.
About Shift
Shift is a leading end-to-end auto ecommerce platform transforming
the used car industry with a technology-driven, hassle-free
customer experience. Shift's mission is to make car purchase and
ownership simple — to make buying or selling a used car fun, fair,
and accessible to everyone. Shift provides comprehensive, digital
solutions throughout the car ownership lifecycle: finding the right
car, having a test drive brought to you before buying the car, a
seamless digitally-driven purchase transaction including financing
and vehicle protection products, an efficient, digital
trade-in/sale transaction, and a vision to provide high-value
support services during car ownership. For more information please
visit www.shift.com.
Forward Looking Statements
This press release contains
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as "anticipate", "believe", "could", "continue",
"expect", "estimate", "may", "plan", "outlook", "future" and
"project" and other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. These statements, which involve risks and uncertainties,
relate to analyses and other information that are based on
forecasts of future results and estimates of amounts not yet
determinable and may also relate to the Insurance Acquisition
Corp.'s and Shift's future prospects, developments and business
strategies. In particular, such forward-looking statements may
include statements concerning the timing of the Business
Combination; the business plans, objectives, expectations and
intentions of the public company once the transaction is complete,
and Shift's estimated and future results of operations, business
strategies, competitive position, industry environment and
potential growth opportunities. These statements are based on the
Insurance Acquisition Corp.'s or Shift's management's current
expectations and beliefs, as well as a number of assumptions
concerning future events.
Such forward-looking statements are subject to known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside the Insurance Acquisition Corp.'s or Shift's
control that could cause actual results to differ materially from
the results discussed in the forward-looking statements. These
risks, uncertainties, assumptions and other important factors
include, but are not limited to, (1) the occurrence of any event,
change or other circumstances that could give rise to the
termination of the Business Combination; (2) the inability to
complete the transactions contemplated by the Business Combination
due to the failure to obtain approval of the stockholders of
Insurance Acquisition Corp. or other conditions to closing in the
Business Combination; (3) the ability of the public entity to meet
Nasdaq's listing standards following the Business Combination; (4)
the inability to complete the private placement; (5) the risk that
the Business Combination disrupts current plans and operations of
Shift as a result of the announcement and consummation of the
transactions described herein; (6) the ability to recognize the
anticipated benefits of the Business Combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with suppliers and agents and retain its management
and key employees; (7) costs related to the proposed transaction;
(8) changes in applicable laws or regulations and delays in
obtaining, adverse conditions contained in, or the inability to
obtain necessary regulatory approvals required to complete the
Business Combination; (9) the possibility that Shift may be
adversely affected by other economic, business, regulatory and/or
competitive factors; (10) the outcome of any legal proceedings that
may be instituted against Insurance Acquisition Corp., Shift or any
of their respective directors or officers, following the
announcement of the Business Combination; and (11) the failure to
realize anticipated pro forma results and underlying assumptions,
including with respect to estimated stockholder redemptions and
purchase price and other adjustments.
Additional factors that could cause actual results to differ
materially from those expressed or implied in forward-looking
statements can be found in Insurance Acquisition Corp.'s most
recent annual report on Form 10-K, subsequently filed quarterly
reports on Form 10-Q and current reports on Form 8-K, which are
available, free of charge, at the SEC's website at www.sec.gov, and
are also be provided in the Registration Statement on Form S-4 and
Insurance Acquisition Corp.'s proxy statement/prospectus. New risks
and uncertainties arise from time to time, and it is impossible for
us to predict these events or how they may affect us. You are
cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made, and Insurance
Acquisition Corp. and Shift undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
This communication is not intended to be all-inclusive or to
contain all the information that a person may desire in considering
an investment in Insurance Acquisition Corp. and is not intended to
form the basis of an investment decision in Insurance Acquisition
Corp. All subsequent written and oral forward-looking statements
concerning Insurance Acquisition Corp. and Shift, the Business
Combination or other matters and attributable to Insurance
Acquisition Corp. and Shift or any person acting on their behalf
are expressly qualified in their entirety by the cautionary
statements above.
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SOURCE Shift