Upshift

Upshift

Fractional EV car subscriptions

Print
Claim My Business
Form C
View on Wefunder
Security Type
CAFES
Categories
Technology, Retail, Community & Lifestyle, Transportation & Storage
Min Investment
$100
Location
San Francisco, CA
Expected Close Date
April 30, 2023
Target Raise
$50.00K-$447.00K
No. Investors
142
Security Price
$1
Website
upshiftcars.com
Number of Employees
6
Cash
$240,507
Revenue
$196,677
Short Term Debt
$553,280
Cost of Goods
$117,300
Long Term Debt
$325,860
Net Income
$-597,910

Key Deal Facts

Reinventing car leasing to unlock a $630B fractional car subscription market for low mileage drivers
$2.7M raised from MINI (BMW), Ford, Third Sphere, Climate Capital & angels
Team: went to MIT, UC Berkeley, did YC, and worked at Uber, Fair, Zipcar, Meta.
$425k+/year revenues, 2X annual growth, 97% retention
$805 acquisition cost, $5,724 lifetime value
Raising $3M to expand to DC market, electrify fleet & add remote car delivery tech (teleoperations)
763,121 pounds CO2 reduced from our EV fleet — like taking over 81 cars off the road for a year

Management Team / Advisory Board Bios

Ezra Goldman CEO & co-founder24 years in transportation innovation, including bikeshare in 1999 and eScootershare in 2006. Work has been in NYTimes, Wired, Discovery Channel, Business Insider, This Week in Startups, Gizmodo, Metropolis, & Curbed. MIT Master's in Urban Planning., Ayako Hiwasa Operations co-founderLaunched a social enterprise in Cambodia when there was no government in power. Two master's degrees., Lena Belogolova Behavioral scientistWent to MIT. Did Y Combinator. Worked at GoodRx, Meta, Blackrock, Goldman Sachs., Keith Reinbolt Growth marketingWent to UC Berkeley. Worked at Fair, Canvas (Ford), Uber, Zipcar, Hippo, and Audi on Demand., Anil Chudasama Mobile engineerI am a mobile engineer who is managing development mobile apps., Alex Belikov Art direction and Product designArt director, product designer, brand strategist, visionary, Rabendra Sharma Backend engineer, Arjun Dev Arora Advisor and investorFormer partner at 500 Startups, EIR at Expa, advisor/investment committee member at Nike Valiant Labs, Retargeter cofounder, & board member/advisor/investor at multiple startups., Dave Brook AdvisorStarted first commercial carsharing company in the US (later acquired by Zipcar). Consulted for OEMs, startups, and rental car companies on carsharing strategy., Byron Shaw AdvisorFounding Managing Director of GM ventures. Deep OEM and autotech expertise. Board member on multiple startups.
Amount Raised : $100,861
Reveal the Score by Voting
＿
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
ⓘ
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
ⓘ
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
ⓘ
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
ⓘ
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

Research Reports

No reports have been submitted

Become a Reporter
Read Our Research Disclaimer

0 Comments

Post Comment