Upshift

Fractional car subscriptions: Car when you need it, gone when you don't

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Security Type
Crowd SAFE
Min Investment
$150
Location
San Francisco, CA
Offering Date
June 24, 2022
Expected Close Date
April 30, 2023
Target Raise
$50.00K-$447.00K
No. Investors
104
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

Company Description

Upshift is a flexible, convenient, and affordable alternative to leasing a car.

Perks

1 investor
Invest
$250
Receive
A personal tweet, post or mention on social media
Limited (499 left of 500)

1 investor
Invest
$500
Receive
Receive
A personal tweet, post or mention on social media.
Limited (299 left of 300)

Invest
$1,000
Receive
A personal tweet, post or mention on social media.
Limited (100 left of 100)

Invest
$2,500
Receive
A personal tweet, post or mention on social media.
Limited (50 left of 50)

Invest
$5,000
Receive
A personal tweet, post or mention on social media.
Limited (20 left of 20)

Invest
$10,000
Receive
A personal tweet, post or mention on social media.
Limited (5 left of 5)

Key Deal Facts

Upshift: $19B fractional car subscription market for low mileage drivers
Raising $3M: expand to DC market, electrify fleet & unmanned delivery tech
3X annual growth, 95% retention, $805 acquisition, $5,967 lifetime value
659,693 pounds CO2 reduced—like taking 70 vehicles off the road for a year
Team built of people with decades of experience in mobility and tech
$1.5M raised from MINI (BMW), Ford, Third Sphere, Climate Capital & angels
Last campaign on Republic raised $707K from 3007 investors

Perks

1 investor
Invest
$250
Receive
A personal tweet, post or mention on social media
Limited (499 left of 500)

1 investor
Invest
$500
Receive
Receive
A personal tweet, post or mention on social media.
Limited (299 left of 300)

Invest
$1,000
Receive
A personal tweet, post or mention on social media.
Limited (100 left of 100)

Invest
$2,500
Receive
A personal tweet, post or mention on social media.
Limited (50 left of 50)

Invest
$5,000
Receive
A personal tweet, post or mention on social media.
Limited (20 left of 20)

Invest
$10,000
Receive
A personal tweet, post or mention on social media.
Limited (5 left of 5)

Management Team / Advisory Board Bios

Ezra Goldman
Founder
Featured in Superheroes
20+ years in shared mobility (including dockless bike share in 1999 and scooter share in 2006) & MIT MCP ( Urban Planning).

Ayako Hiwasa
Co-founder
Worked at World Bank, advised students at Stanford d.School

Keith Reinbolt
Growth marketing

Lena Belogolova
Behavioral scientist

Alex Belikov
Art direction & product design

Rabendra Sharma
Backend engineer

Anil Chudasama
Mobile engineer

Tehreem Javid
Operations

Nick Traverso
Operations assistant

Joan Reuter
Concierge

Kelly Johnson
Concierge

Arjun Arora
Advisor: Partner @500 Startups, EIR @Expa, Founder @ReTargeter

Al Lieb
Advisor: Cofounding CEO/CTO @eVite @Clearslide @Gixo

Michael Wang
Advisor: Product Design @Facebook @Lyft @Github

David Brook
Advisor: Cofounder of 1st carshare in North America, helped launch Car2Go, Turo

Griff Long
Advisor: VP Operations @Zipcar, @Equinox, Sr Global Dir Carshare Operations @Hertz, COO @Orange Theory

Byron Shaw
Advisor: Founding Managing Director @GM Ventures, @GM Advanced Technology Silicon Valley Office

Bradley Walsh
Advisor: Senior Manager @Allstate, SVP @Santander & Sr Dir @Cox Automotive (Vehicle Financing)

Edward West
Advisor: Partner @Salmon Nation Capital, Dir Strategy @Earthbanc, Cofounder @Mission Motors (EV motorcycles) @Hylo
Amount Raised : $88,776
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Valuation

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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