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{{Short description|Automotive classified advertising business}}
{{distinguish|Kazoo}}
{{Infobox company
{{Infobox company
| name = Cazoo
| name = Cazoo
| logo = File:Cazoo.svg
| logo = File:Cazoo.svg
| logo_size = 175px
| logo_size = 175px
| image =
| image =
| image_size =
| image_size =
| image_caption =
| image_caption =
| former_name =
| former_name =
| type = [[Private company|Private]]
| type = [[Private Company]]
| traded_as =
| traded_as =
| ISIN =
| ISIN =
| industry = {{ubl
| industry = {{ubl
| [[Automotive industry|Automotive]]
| [[Automotive industry|Automotive]]
}}
}}
| founded = 2018
| founded = {{start date and age|2018}}
| founders = [[Alex Chesterman]]
| founder = [[Alex Chesterman]]
| hq_location_city = [[London]]
| hq_location_city = [[London]]
| hq_location_country = United Kingdom
| hq_location_country = United Kingdom
| area_served =
| area_served =
| key_people = {{ubl
| key_people = {{ubl
| Alex Chesterman <small>([[Chief executive officer|CEO]])</small>
| Barry Judge <small>([[CEO]])</small>
| Paul Whitehead <small>([[Chief commercial officer|CCO]])</small>
| Phill Jones <small>([[Chief operating officer|COO]])</small>
| Jonathan Howell <small>([[Chief technology officer|CTO]])</small>
| Nick Moodie <small>([[CFO]])</small>

| Stephen Morana <small>([[Chief financial officer|CFO]])</small>
| Darren Bentley <small>([[Chief customer officer|CCO]])</small>
}}
}}
| products =
| products =
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| assets =
| assets =
| equity =
| equity =
| owner =
| owner = o3 Industries and Novum Capital
| num_employees = 1,750
| num_employees = 250
| subsid =
| subsid =
| website = {{URL|cazoo.co.uk}}
| website = {{URL|cazoo.co.uk}}
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}}
}}



'''Cazoo''' is a British online car retailer based in [[London]], [[England]] and founded in 2018 by [[Alex Chesterman]].
'''Cazoo''' is a British [[automotive]] [[online marketplace]] and [[classified advertising]] business based in [[Richmond, London|Richmond]], London.

==MOTORS Acquisition==
MOTORS purchased the Cazoo brand,<ref>{{Cite web |date=2024-06-28 |title=Motors buys Cazoo brand and plans to make it a mobile-first digital marketplace for used cars |url=https://cardealermagazine.co.uk/publish/motors-buys-cazoo-brand-and-plans-to-make-it-a-mobile-first-digital-marketplace-for-used-cars/303939 |access-date=2024-06-28 |website=Car Dealer Magazine |language=en}}</ref> aiming to transform it into a mobile-first digital [[marketplace]] for used cars.

The undisclosed acquisition confirms earlier reports that MOTORS was closing in on a deal for the collapsed used car operator. Over the coming weeks, MOTORS will launch a new Cazoo app and a fresh website featuring more than a quarter of a million used car listings.

The goal is to provide consumers with a fresh approach to searching for cars, leveraging MOTORS’ 15-plus years of experience. Dealers with live MOTORS MultiSite packages will automatically benefit from exposure on Cazoo, free of charge.

==App Launch==
British [[online]] used car-buying marketplace MOTORS has rolled out the new Cazoo app, marking a significant step in integrating the online car retailer into its digital marketplace offerings. <ref>https://www.motorfinanceonline.com/news/motors-new-cazoo-app/</ref>

The app, now available for both [[Android (operating system)|Android]] and [[iOS]] users, comes two weeks after MOTORS’s acquisition of Cazoo, which had previously entered administration in May.

The app currently features more than 150,000 used cars for sale, sourced from a network of franchised and independent dealers, as well as car [[supermarkets]] across the nation.

As of November 2024, Cazoo's mobile app had ratings of 4.9/5<ref>https://apps.apple.com/gb/app/cazoo-search-find-used-cars/id6475107646</ref> on the Apple App Store and 4.6/5 on the Google Play Store.<ref>https://play.google.com/store/apps/details?id=com.motors.consumer&hl=en_GB</ref>


==History==
==History==
Cazoo was founded in 2018 by British internet entrepreneur [[Alex Chesterman]]. It launched its e-commerce platform for used cars in December 2019.<ref>{{cite news|url=https://www.cnbc.com/2020/10/01/uk-online-used-car-marketplace-cazoo-doubles-valuation-to-2point6-billion.html|title=UK start-up Cazoo doubles valuation to $2.6 billion as car sales shift online amid pandemic|date=2 October 2020|first=Ryan|last=Browne|newspaper=CNBC}}</ref>
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.<ref>{{cite news|url=https://www.cnbc.com/2020/10/01/uk-online-used-car-marketplace-cazoo-doubles-valuation-to-2point6-billion.html|title=UK start-up Cazoo doubles valuation to $2.6 billion as car sales shift online amid pandemic|date=2 October 2020|first=Ryan|last=Browne|newspaper=CNBC}}</ref>

It is based in the UK but listed on the [[New York Stock Exchange]] following a merger with a [[special-purpose acquisition company]], led by [[hedge fund]] manager Dan Och in August 2021. 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.<ref>{{Cite news |last=Mustoe |first=Howard |date=2023-01-18 |title=Cazoo founder steps down after 97pc collapse in value |language=en-GB |work=The Telegraph |url=https://www.telegraph.co.uk/business/2023/01/18/cazoo-founder-steps-97pc-collapse-value/ |access-date=2023-01-18 |issn=0307-1235}}</ref>

In 2021 Cazoo had expanded internationally, launching used car marketplaces in Germany and France, and in early 2022 expanded briefly into Italy and Spain.<ref>{{cite journal|date=12 May 2022|url=https://www.businesswire.com/news/home/20220512005076/en/Cazoo-Launches-in-Spain|title=Cazoo Launches in Spain|journal=Business Wire|access-date=12 May 2022}}</ref> After announcing redundancies in the UK in June 2022, in September 2022, 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.<ref>[https://www.theguardian.com/business/2022/sep/08/cazoo-to-abandon-its-business-operations-in-europe-and-cut-750-jobs Guardian, 9 September]</ref>

UK redundancies were announced in March 2023 when 15 out of 22 showrooms were closed.<ref>{{cite news |last1=Sharpe |first1=Tom |title=Cazoo axes 15 customer centres from website as closures get the go-ahead |url=https://www.am-online.com/news/dealer-news/2023/03/07/cazoo-axes-15-customer-centres-from-website-as-closures-get-the-go-ahead |access-date=21 May 2024 |work=AM-Online |date=7 March 2023}}</ref> 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 (law)|administration]] putting 208 remaining jobs at risk of redundancy.<ref>{{cite news |last1=Race |first1=Michael |title=Online car retailer Cazoo enters administration |url=https://www.bbc.co.uk/news/articles/cjq55333xg9o |access-date=21 May 2024 |work=BBC News |date=21 May 2024}}</ref> 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.<ref>{{cite news |last1=Kleinman |first1=Mark |title=Motors.co.uk lines up deal to buy stricken car marketplace Cazoo |url=https://news.sky.com/story/motors-co-uk-lines-up-deal-to-buy-stricken-car-marketplace-cazoo-13150175 |access-date=10 June 2024 |publisher=Sky News |date=9 June 2024}}</ref>


==Sponsorship==
==Sponsorship==
Cazoo sponsored the [[Welsh Rugby Union]],<ref>{{cite web | url=https://www.wru.wales/2021/06/cazoo-becomes-principal-partner-of-wru/ | title=Cazoo becomes principal partner of WRU - Welsh Rugby Union | date=3 June 2021 }}</ref> a number of annual horse races in Epsom and Doncaster,<ref>{{Cite news|title=Cazoo is the new headline sponsor for classic St Leger Stakes horse race in Doncaster|language=en-UK|work=Doncaster Free Press|url=https://www.doncasterfreepress.co.uk/business/cazoo-is-the-new-headline-sponsor-for-classic-st-leger-stakes-horse-race-in-doncaster-3218678|access-date=2021-05-20|issn=0962-872X}}</ref> cricket tournament [[The Hundred (cricket)|The Hundred]],<ref>{{cite web | url=https://www.thehundred.com/news/1921696/cazoo-named-principal-partner-of-the-hundred | title=Cazoo named Principal Partner of the Hundred }}</ref> various events managed by the [[World Snooker Tour]],<ref>{{cite web|publisher=Cazoo|date=2 February 2021|url=https://www.cazoo.co.uk/press/cazoo-launches-partnership-with-world-snooker-tour/|title=Cazoo launches partnership with World Snooker Tour}}</ref> the [[Professional Darts Corporation]],<ref>{{cite web|publisher=Professional Darts Corporation|date=10 January 2022|url=https://www.pdc.tv/news/2022/01/10/cazoo-become-world-darts-championship-sponsors-new-multi-event-deal|title=Cazoo become World Darts Championship sponsors in new multi-event deal}}</ref> and the [[PGA European Tour]].<ref>{{cite web |last1=Jackson |first1=Keith |title=European Tour announces multi-year sponsorship deal with Cazoo |url=https://www.skysports.com/golf/news/12176/12327841/european-tour-announces-multi-year-sponsorship-deal-with-cazoo |website=Sky Sports |access-date=4 August 2021 |date=8 June 2021}}</ref>
As of February 2021, Cazoo is the main sponsor of [[Aston Villa F.C.]] and [[Everton F.C.]].<ref>{{cite news|url=https://news.sky.com/story/online-car-platform-cazoo-eyes-blockbuster-6bn-public-offering-12222731|title=Online car platform Cazoo eyes blockbuster £6bn public offering|first=Mark|last=Kleinman|newspaper=Sky News|date=19 February 2021}}</ref> In February 2021, Cazoo signed a multi-year deal with the [[World Snooker Tour]] as the main sponsor of the [[Cazoo Cup]] events, namely the [[World Grand Prix (snooker)|World Grand Prix]], the [[Players Championship (snooker)|Players Championship]], and the [[Tour Championship (snooker)|Tour Championship]].<ref>{{cite web|publisher=Cazoo|date=2 February 2021|url=https://www.cazoo.co.uk/press/cazoo-launches-partnership-with-world-snooker-tour/|title=Cazoo launches partnership with World Snooker Tour}}</ref>

As of 2021, Cazoo is the sponsor of the famous Horses racing [[The Derby]], [[The oaks]] and [[The Coronation Cup]] at Epsom.
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 F.C.|Aston Villa]], [[Olympique de Marseille]], [[SC Freiburg]], [[Valencia CF]], [[Lille OSC]], [[Bologna FC]] and [[Real Sociedad]] were being wound down.<ref>{{cite web | url=https://www.sportspromedia.com/news/cazoo-europe-sports-sponsorship-marseille-real-sociedad-freiburg-bologna/ | title=Marseille and Real Sociedad to lose Cazoo deals with brand winding down European sponsorships | date=9 September 2022 }}</ref>


==References==
==References==
Line 52: Line 78:


==External links==
==External links==
* {{Official|https://www.cazoo.co.uk/}}
* {{Official website|https://www.cazoo.co.uk/}}


[[Category:Online automotive companies]]
[[Category:Online automotive companies]]
[[Category:Online retail companies of the United Kingdom]]
[[Category:Online retailers of the United Kingdom]]
[[Category:Companies that have entered administration in the United Kingdom]]
[[Category:British companies established in 2018]]
[[Category:British companies established in 2018]]
[[Category:Retail companies established in 2018]]
[[Category:Retail companies established in 2018]]
[[Category:Internet properties established in 2018]]
[[Category:Internet properties established in 2018]]
[[Category:Companies based in London]]
[[Category:Privately held companies based in London]]
[[Category:Announced mergers and acquisitions]]
[[Category:Used car market]]

{{UK-retail-company-stub}}

Latest revision as of 03:09, 28 November 2024

Not to be confused with Kazoo.
Cazoo
Company typePrivate Company
Industry
Founded2018; 6 years ago (2018)
FounderAlex Chesterman
Headquarters
London
,
United Kingdom
Key people
  • Barry Judge (CEO)
  • Phill Jones (COO)
  • 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.

MOTORS Acquisition

[edit]

MOTORS purchased the Cazoo brand,[1] aiming to transform it into a mobile-first digital marketplace for used cars.

The undisclosed acquisition confirms earlier reports that MOTORS was closing in on a deal for the collapsed used car operator. Over the coming weeks, MOTORS will launch a new Cazoo app and a fresh website featuring more than a quarter of a million used car listings.

The goal is to provide consumers with a fresh approach to searching for cars, leveraging MOTORS’ 15-plus years of experience. Dealers with live MOTORS MultiSite packages will automatically benefit from exposure on Cazoo, free of charge.

App Launch

[edit]

British online used car-buying marketplace MOTORS has rolled out the new Cazoo app, marking a significant step in integrating the online car retailer into its digital marketplace offerings. [2]

The app, now available for both Android and iOS users, comes two weeks after MOTORS’s acquisition of Cazoo, which had previously entered administration in May.

The app currently features more than 150,000 used cars for sale, sourced from a network of franchised and independent dealers, as well as car supermarkets across the nation.

As of November 2024, Cazoo's mobile app had ratings of 4.9/5[3] on the Apple App Store and 4.6/5 on the Google Play Store.[4]

History

[edit]

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.[5]

It is based in the UK but listed on the New York Stock Exchange following a merger with a special-purpose acquisition company, led by hedge fund manager Dan Och in August 2021. 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] After announcing redundancies in the UK in June 2022, in September 2022, 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.[8]

UK redundancies were announced in March 2023 when 15 out of 22 showrooms were closed.[9] 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.[10] 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.[11]

Sponsorship

[edit]

Cazoo sponsored the Welsh Rugby Union,[12] a number of annual horse races in Epsom and Doncaster,[13] cricket tournament The Hundred,[14] various events managed by the World Snooker Tour,[15] the Professional Darts Corporation,[16] and the PGA European Tour.[17]

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.[18]

References

[edit]
  1. ^ "Motors buys Cazoo brand and plans to make it a mobile-first digital marketplace for used cars". Car Dealer Magazine. 2024-06-28. Retrieved 2024-06-28.
  2. ^ https://www.motorfinanceonline.com/news/motors-new-cazoo-app/
  3. ^ https://apps.apple.com/gb/app/cazoo-search-find-used-cars/id6475107646
  4. ^ https://play.google.com/store/apps/details?id=com.motors.consumer&hl=en_GB
  5. ^ Browne, Ryan (2 October 2020). "UK start-up Cazoo doubles valuation to $2.6 billion as car sales shift online amid pandemic". CNBC.
  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. ^ Guardian, 9 September
  9. ^ Sharpe, Tom (7 March 2023). "Cazoo axes 15 customer centres from website as closures get the go-ahead". AM-Online. Retrieved 21 May 2024.
  10. ^ Race, Michael (21 May 2024). "Online car retailer Cazoo enters administration". BBC News. Retrieved 21 May 2024.
  11. ^ Kleinman, Mark (9 June 2024). "Motors.co.uk lines up deal to buy stricken car marketplace Cazoo". Sky News. Retrieved 10 June 2024.
  12. ^ "Cazoo becomes principal partner of WRU - Welsh Rugby Union". 3 June 2021.
  13. ^ "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.
  14. ^ "Cazoo named Principal Partner of the Hundred".
  15. ^ "Cazoo launches partnership with World Snooker Tour". Cazoo. 2 February 2021.
  16. ^ "Cazoo become World Darts Championship sponsors in new multi-event deal". Professional Darts Corporation. 10 January 2022.
  17. ^ Jackson, Keith (8 June 2021). "European Tour announces multi-year sponsorship deal with Cazoo". Sky Sports. Retrieved 4 August 2021.
  18. ^ "Marseille and Real Sociedad to lose Cazoo deals with brand winding down European sponsorships". 9 September 2022.
[edit]
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