Upshift

Upshift

Redefining car ownership for urban living

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Security Type
Crowd SAFE
Categories
Other
Min Investment
$100
Location
Oakland, CA
Offering Date
November 25, 2019
Expected Close Date
September 30, 2020
Target Raise
$25.00K-$1.07M
Deal Notes

$1.00 per share

20% discount

Company Description

Upshift removes all the friction from owning a car. Whenever you need to drive somewhere, we deliver a Toyota Prius or Ford Escape hybrid SUV to your doorstep. Get a car with as little as 30 minutes notice- always clean with a full tank. When you return, simply park it and walk away anywhere in our service zone. No more expensive garages or circling the block for street parking. Forget worrying about parking tickets, break-ins, or mysterious new dents. We provide full coverage insurance and take it in for maintenance and repairs. All you have to think about is where you are going. We’re live in San Francisco and we plan to expand to all cities so you can always have “your” car - anywhere in the world.

Perks

Invest $250 Receive $250 Crowd SAFE + A personal tweet, post or mention on social media + Offset carbon equivalent to taking 1 car off the road for 2 weeks
Invest $500 Receive $500 Crowd SAFE + A personal tweet, post or mention on social media + A special thank-you note from the founders + Offset carbon equivalent to taking 1 car off the road for 1 month
Invest $1,000 Receive $1,000 Crowd SAFE + A personal tweet, post or mention on social media + A special thank-you note from the founders + An exclusive investors-only organic cotton t-shirt + Offset carbon equivalent to taking 1 car off the road for 2 months
Invest $5,000 Receive $5,000 Crowd SAFE + A personal tweet, post or mention on social media + A special thank-you note from the founders + An exclusive investors-only organic cotton t-shirt + Invitation to attend 1 investor update call + Offset carbon equivalent to taking 1 car off the road for 1 year
Invest $15,000 Receive $15,000 Crowd SAFE + A personal tweet, post or mention on social media + A special thank-you note from the founders + An exclusive investors-only organic cotton t-shirt + Conference call, meeting or dinner with the founders + Offset carbon equivalent to taking 1 car off the road for 3 years
Invest $25,000 Receive $25,000 Crowd SAFE + A personal tweet, post or mention on social media + A special thank-you note from the founders + An exclusive investors-only organic cotton t-shirt + Conference call, meeting or dinner with the founders + Offset carbon equivalent to taking 1 car off the road for 4 years
Invest $50,000 Receive $50,000 Crowd SAFE + A personal tweet, post or mention on social media + A special thank-you note from the founders + An exclusive investors-only organic cotton t-shirt + Conference call, meeting or dinner with the founders + Offset carbon equivalent to taking 1 car off the road for 8 years

Key Deal Facts

Fractional car leasing service for low mileage drivers
230,855 lbs CO2 eliminated, 50% female & 50% minority team
1,400+ accounts, waitlist to subscribe, 15X growth in MRR over 7 quarters
Proven unit economics: 94% paid subscriber retention, $157 CAC, $4,842 LTV
Creating a new $26B TAM in high density US cities alone
Raised $900K including MINI (BMW), Urban Us & the cofounder of NerdWallet
$250K NRE from Ford: pilot connecting Escapes to our apps + intent to scale

Use of Proceeds

  • Tech
  • New Hires
  • Legal
  • Accounting
  • Marketing
  • General Working Capital

Management Team / Advisory Board Bios

Ezra Goldman - Co-Founder & CEO
Ezra cofounded a dockless bikeshare in 1999 and helped design a shared folding electric scooter at the MIT Media Lab with Piaggio in 2006 while doing his Master's in City Planning. He's consulted on innovation for HP and was managing director of a tech startup in Copenhagen, where he also was a PhD candidate studying why Danish people ride bicycles.

Ayako Hiwasa - Ops Co-Founder
Ayako moved to Cambodia from Japan after college and launched a social enterprise when she could barely speak English, let alone Khmer. She now holds two Master's degrees, has consulted for the World Bank, and advised Stanford School students. She has a sharp mind for process improvement and a passion for creating delightful experiences.

Deal Notes

$1.00 per share

20% discount

Amount Raised : $707,728
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Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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