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Cazoo

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Cazoo
TypePrivate Company
Industry
Founded2018; 8 years ago (2018)
FounderAlex Chesterman
Headquarters
London
,
United Kingdom
Area served
United Kingdom
Key people
  • Barry Judge (CEO)
  • Nick Moodie (CFO)
Ownero3 Industries and Novum Capital
Number of employees
250
Websitecazoo.co.uk

Cazoo is a British automotive online marketplace and classified advertising business based in Richmond, London. Cazoo is owned by MOTORS, following its acquisition from Cazoo Holdings Limited by O3 Industries and Novum Capital.

History

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Cazoo Group

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Cazoo was founded in 2018 by British internet entrepreneur Alex Chesterman. It launched an online marketplace for used cars in December 2019, which became its primary business.[1] Chesterman announced the venture in December 2018 with seed funding of more than £30 million, raised from dmg ventures, the venture capital arm of the Daily Mail and General Trust, Stride.VC, Octopus Ventures and Entrée Capital.[2][3][4] The company stated that customers would be able to buy, finance or rent a vehicle through the site and receive it at home within two days, with returns accepted during the first week after delivery.[3] By the time retail trading began at the end of 2019, backing had reached about £80 million and the opening inventory consisted of 1,500 cars supplied by the remarketing group BCA.[5]

Although based in the UK, Cazoo was listed on the New York Stock Exchange in August 2021 following a merger with a special-purpose acquisition company led by hedge fund manager Dan Och. As of its listing the company had a valuation of US$8 billion. It subsequently lost over 97% of its market value, causing Alex Chesterman to step down as CEO in January 2023.[6]

In 2021 Cazoo had expanded internationally, launching used car marketplaces in Germany and France, and in early 2022 expanded briefly into Italy and Spain.[7] Entry into those two markets followed a pair of purchases: Swipcar, a Barcelona-based subscription marketplace with a presence in Italy and Portugal, acquired in November 2021 for €30 million, and the Italian online retailer Brumbrum, bought for €80 million.[8][9] Altogether the group committed close to €200 million to establishing itself in Spain, Germany and Italy, and signed multi-year sponsorship agreements with football clubs in each of those countries to build recognition of the brand.[10]

After announcing redundancies in the UK in June 2022, in September, Cazoo announced it would abandon its business in the European Union, closing its operations in France, Germany, Italy and Spain and making all 750 of its EU employees redundant, leaving only its UK operation in business.[11]

UK redundancies were announced in March 2023 when 15 out of 22 showrooms were closed.[12] A year later, in March 2024, the company stopped buying and selling cars and closed its remaining showrooms, aiming to become purely an online market place; the move meant 728 redundancies.

On 21 May 2024, Cazoo went into administration putting 208 remaining jobs at risk of redundancy.[13] Cazoo's wholesale business was bought by G3; Constellation Automotive Group also acquired some Cazoo assets; and used-car platform Motors was reported in June 2024 to be buying Cazoo's brand and marketplace business.[14]

Under MOTORS

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MOTORS announced the acquisition of Cazoo on 28 June 2024[15] and relaunched the Cazoo brand under a new app in July 2024. Cazoo's website was temporarily redirected to MOTORS while a new website on the company's backend was constructed.[16]

On 2 April 2025, the Cazoo website was launched, and became the flagship brand within MOTORS' marketplace network. The relaunch followed the introduction of a Cazoo mobile app. As of 2 April 2025, Cazoo's mobile app had ratings of 4.8/5 on the Apple App Store and 4.6/5 on Google Play.

MOTORS repositioned Cazoo as a platform for dealers rather than a direct-to-consumer retailer, aiming to challenge Auto Trader’s dominance in the UK used car market. The brand retains its strong consumer recognition due to past investments in television, digital, and sports sponsorship advertising. MOTORS has committed to ongoing technology updates and marketing investment to enhance Cazoo’s reach and lead generation capabilities.[17]

Sponsorship

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Cazoo sponsored the 2021 Rugby League World Cup,[18] Welsh Rugby Union,[19] a number of annual horse races in Epsom and Doncaster,[20] cricket tournament The Hundred,[21] various events managed by the World Snooker Tour,[22] the Professional Darts Corporation,[23] and the PGA European Tour.[24]

Consequent on the company's announced retrenchment to the UK market in September 2022, Cazoo's sponsorships of European football clubs for the 2022–23 season, including Everton F.C., Aston Villa, Olympique de Marseille, SC Freiburg, Valencia CF, Lille OSC, Bologna FC and Real Sociedad were being wound down.[25]

In 2025, following Motors' acquisition and relaunch of Cazoo as its flagship brand, the company expanded its involvement in football sponsorship through a new partnership with Brentford F.C.

Motors, which had partnered with Brentford since the start of the 2024–25 Premier League season, transitioned the sponsorship to promote the Cazoo brand. As part of this updated agreement, Cazoo became the lead sponsor for Brentford, delivering in-stadium activations, branded media placements, and player-led social media campaigns.[26]

References

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  1. ↑ Browne, Ryan (2 October 2020). "UK start-up Cazoo doubles valuation to $2.6 billion as car sales shift online amid pandemic". CNBC.
  2. ↑ "Zoopla founder Alex Chesterman drives away with £30m funding for used car startup". City A.M. 2 December 2018. Retrieved 2 November 2026.
  3. 1 2 Degeler, Andrii (2 December 2018). "Zoopla founder's used car marketplace Cazoo raises more than £30 million". Tech.eu. Retrieved 2 November 2026.
  4. ↑ "Zoopla founder raises £30m for new car website venture Cazoo". Insider.co.uk. 2 December 2018. Retrieved 2 November 2026.
  5. ↑ Turner, Aimee (8 December 2023). "Cazoo wraps up debt refinancing, Chesterman steps down". AM. Retrieved 2 November 2026.
  6. ↑ Mustoe, Howard (2023-01-18). "Cazoo founder steps down after 97pc collapse in value". The Telegraph. ISSN 0307-1235. Retrieved 2023-01-18.
  7. ↑ "Cazoo Launches in Spain". Business Wire. 12 May 2022. Retrieved 12 May 2022.
  8. ↑ Bowman, John (8 September 2022). "Cazoo to pull out of mainland Europe to focus on UK market". Car Dealer Magazine. Retrieved 2 November 2026.
  9. ↑ Grasso Macola, Ilaria (8 September 2022). "Cazoo shuts EU operations down as it targets return to profitability". City A.M. Retrieved 2 November 2026.
  10. ↑ Campbell, Peter; Tomkiw, Lydia (8 September 2022). "UK online car seller Cazoo pulls plug on European operations". The Irish Times. Retrieved 2 November 2026.
  11. ↑ Jolly, Jasper (8 September 2022). "Cazoo to abandon business operations in EU and cut 750 jobs". The Guardian.
  12. ↑ Sharpe, Tom (7 March 2023). "Cazoo axes 15 customer centres from website as closures get the go-ahead". AM-Online. Retrieved 21 May 2024.
  13. ↑ Race, Michael (21 May 2024). "Online car retailer Cazoo enters administration". BBC News. Retrieved 21 May 2024.
  14. ↑ Kleinman, Mark (9 June 2024). "Motors.co.uk lines up deal to buy stricken car marketplace Cazoo". Sky News. Retrieved 10 June 2024.
  15. ↑ Bowman, John (2024-06-28). "MOTORS launches Cazoo app to expand online car marketplace integration". Car Dealer Magazine. Retrieved 2024-06-28.
  16. ↑ Sharma, Soumya (2024-07-12). "Motors launches Cazoo app to expand online car marketplace integration". Motor Finance Online. Retrieved 2024-12-11.
  17. ↑ Seymour, Tom. "Motors relaunches Cazoo in bid to shake up vehicle marketplace sector". www.am-online.com. Retrieved 2025-04-02.
  18. ↑ Kirwan, John (2020-11-19). "Cazoo to sponsor Rugby League World Cup 2021". Motor Trader. Retrieved 2025-06-30.
  19. ↑ "Cazoo becomes principal partner of WRU - Welsh Rugby Union". 3 June 2021.
  20. ↑ "Cazoo is the new headline sponsor for classic St Leger Stakes horse race in Doncaster". Doncaster Free Press. ISSN 0962-872X. Retrieved 2021-05-20.
  21. ↑ "Cazoo named Principal Partner of The Hundred". www.ecb.co.uk. Retrieved 2026-08-19.
  22. ↑ "Cazoo launches partnership with World Snooker Tour". Cazoo. 2 February 2021.
  23. ↑ "Cazoo become World Darts Championship sponsors in new multi-event deal". Professional Darts Corporation. 10 January 2022. Archived from the original on January 10, 2022.
  24. ↑ Jackson, Keith (8 June 2021). "European Tour announces multi-year sponsorship deal with Cazoo". Sky Sports. Retrieved 4 August 2021.
  25. ↑ "Marseille and Real Sociedad to lose Cazoo deals with brand winding down European sponsorships". 9 September 2022.
  26. ↑ "MOTORS switches club partnership to Cazoo | Brentford FC". www.brentfordfc.com. Retrieved 2025-05-22.
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