Business
Posted:
2 years ago
Shift Technologies Merges with Car Dealership CarLotz
Used car dealer Sift Technologies, which is listed on the Nasdaq stock exchange, will merge with CarLotz, which is also present in the car trading sector.
As a result of the merger, the new company will be listed on the exchange under Shift's ticker SFT. It is significant that the founder and head of Shift, George Arison (Irakli Areshidze), who was born in Tbilisi, will leave the position of CEO - he will be replaced by Jeff Clements.
Shift Technologies was founded by a Georgian entrepreneur in 2013, the online platform for the sale of used cars has generated a cumulative revenue of 2 billion dollars since its inception.