Shift Technologies Gets $50M More

Shift Technologies, the online marketplace for used cars which has major operations in Los Angeles, has raised $50M in new funding for the startup, the company said today. The funding was led by Goldman Sachs Investment Partners (GSIP), and also included Draper Fisher Jurvetson (DFJ) and Highland Capital Partners. GSIP's Ian Friedman joins the company's board with the funding. The company is based in San Francisco, but launched into Los Angeles in July, saying it expected to hire 50 employees here by January. Shift is unusual, in that it takes responsibility for providing on-demand test drives of vehicles--and helps prep those vehicles for sale--rather than just connecting buyers and sellers. More information »