Cazoo goes public with £5bn valuation
Online used car seller Cazoo is listing on the New York Stock Exchange for £5bn.
Cazoo CEO Alex Chesterman said: “This announcement is another major milestone in our continued drive to transform the way people buy cars across Europe. We’ve created the most comprehensive and fully integrated offering in the largest retail sector which currently has very low digital penetration.”
Cazoo, which owns and reconditions all of the cars it sells, with the buying process completed entirely online, believes that less than two per cent of Europe’s used car market is worth about £500bn but less than two per cent of that can be accounted for by online sales.
