George Arison

Yeah, it's just one time.

You know, so if you think about Airbnb, right, on Airbnb, there is a fee for someone who is renting out an apartment that they pay a percentage.

And then there's a fee for somebody who is renting an apartment, and there's also a percentage.

So we want both sides to be involved and kind of be paying for the service.

And then lastly, we are able to help buyers obtain financing and extended warranty for a car purchase.

And when we do that, there's an option for us to earn additional revenue there as well by referring a person to either a bank or a credit union or facilitating information for them on a warranty product that they can also buy.

So Shift was founded at the end of 2013, and then we spent a few months getting ready to be in business.

Obviously, there's a bunch of things we had to do, like get insurance and kind of define a model, build a website, et cetera.

And we started selling cars in June of 2013.

So about two years ago now.

We've grown from, you know, four cars in that first month to being a very large way to a very significant part of the market in San Francisco.

We generally have not released sort of our volume numbers just yet.

We might do that soon, but we haven't done that yet.

But we are, you know, pretty significant.

Again, we have not released a given monthly or yearly number ever yet, and I don't think I'm prepared for that today, but we're selling thousands of cars at any given time.

Yeah, Schiff is a very well-funded company, and we're very fortunate with our investors.

We did a Series A with DJ and Highland Capital in the fall of 2014, and then Goldman Sachs led our Series B last summer in September of last year.

You mean the dollar amount?

Yeah, how much?

Series A was 24 and Series B was 50.