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George Arison

๐Ÿ‘ค Speaker
482 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

So I think that piece is really positive.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

And then of course, by now, you know, literally you buy a car,

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

sight unseen you pay for it online or you know through digital means and then the car is delivered to you that we're going to keep going no matter what because we might not be able to fulfill those orders right away if the you know things get shut down but we'll be able to fulfill those orders later and in a world where a lot of people are sitting at home and kind of have nothing to do right they're shopping for cars online right yeah well and that's the other we have noticed a jump in our traffic to the website

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

So our buyer-visitor, like we track buyer-visitors on our site and as well as seller-visitors.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

Buyer-visitors has definitely jumped over the last week.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

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

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

That's right.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

Yeah.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

I mean, the way I tend to think about it is like,

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

Carvana, which is a public company, they've been public for about three years now.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

They got started out of a larger dealership chain kind of as a digital play.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

So they went public in 2017.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

In 2016, they did about 17,000 cars and about $300 million in revenue.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

So that kind of sets in context like Carvana.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

This year is meant to be our pre-IPO year, right?

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

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.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

Now, again, who knows what happens and things might get delayed and changed and whatnot.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

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

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

So we've also kind of never really pushed for crazy, crazy growth because there's a balance between how fast you can grow and the unit economics story.

SaaS Interviews with CEOs, Startups, Founders
1698 Shift Sells $200m Worth of Cars, Makes $30m, $225m Equity Raised, IPO Next?

You know, the industry as a whole is massive.