Cazoo
{{Short description|Automotive classified advertising business}}
{{distinguish}}
{{Infobox company
| name = Cazoo
| logo = File:Cazoo-Central-Strapline-Logo-Orange---RGB.svg
| logo_size = 175px
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| type = Private Company
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| industry = {{ubl
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| founded = {{start date and age|2018}}
| founder = Alex Chesterman
| hq_location_city = London
| hq_location_country = United Kingdom
| area_served = United Kingdom
| key_people = {{ubl
| Barry Judge (CEO)
| Phill Jones (COO)
| Nick Moodie (CFO)
}}
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| owner = o3 Industries and Novum Capital
| num_employees = 250
| subsid =
| website = {{URL|cazoo.co.uk}}
| footnotes =
}}
Cazoo is a British automotive online marketplace and classified advertising business based in Richmond, London. Cazoo is currently owned by MOTORS, following its acquisition from Cazoo Holdings Limited by O3 Industries and Novum Capital.
History
=Cazoo Group=
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.{{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}}
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.{{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}}
In 2021 Cazoo had expanded internationally, launching used car marketplaces in Germany and France, and in early 2022 expanded briefly into Italy and Spain.{{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}} 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.{{Cite news|url=https://www.theguardian.com/business/2022/sep/08/cazoo-to-abandon-its-business-operations-in-europe-and-cut-750-jobs|first=Jasper|last=Jolly|title=Cazoo to abandon business operations in EU and cut 750 jobs |work=The Guardian|date=8 September 2022}}
UK redundancies were announced in March 2023 when 15 out of 22 showrooms were closed.{{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}} 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.{{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}} 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.{{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}}
=Under MOTORS=
MOTORS announced the acquisition of Cazoo on 28 June 2024{{Cite web |date=2024-06-28 |title=MOTORS launches Cazoo app to expand online car marketplace integration |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 |first=John|last=Bowman |language=en}} 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.{{Cite news |last=Sharma |first=Soumya |date=2024-07-12 |title=Motors launches Cazoo app to expand online car marketplace integration |url=https://www.motorfinanceonline.com/news/motors-new-cazoo-app/ |access-date=2024-12-11 |work=Motor Finance Online |language=en-US}}
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. {{Cite web |last=Seymour |first=Tom |title=Motors relaunches Cazoo in bid to shake up vehicle marketplace sector |url=https://www.am-online.com/news/cazoo-relaunched-by-motors-as-auto-trader-challenger |access-date=2025-04-02 |website=www.am-online.com |language=en}}
Sponsorship
Cazoo sponsored the Welsh Rugby Union,{{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 }} a number of annual horse races in Epsom and Doncaster,{{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}} cricket tournament The Hundred,{{cite web | url=https://www.thehundred.com/news/1921696/cazoo-named-principal-partner-of-the-hundred | title=Cazoo named Principal Partner of the Hundred }} various events managed by the World Snooker Tour,{{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}} the Professional Darts Corporation,{{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}} and the PGA European Tour.{{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}}
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.{{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 }}
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.{{Cite web |title=MOTORS switches club partnership to Cazoo {{!}} Brentford FC |url=https://www.brentfordfc.com/en/news/article/club-news-motors-switches-club-partnership-to-cazoo |access-date=2025-05-22 |website=www.brentfordfc.com |language=en-gb}}
References
{{Reflist}}
External links
- {{Official website|https://www.cazoo.co.uk/}}
Category:Online automotive companies
Category:Online retailers of the United Kingdom
Category:Companies that have entered administration in the United Kingdom
Category:British companies established in 2018
Category:Retail companies established in 2018
Category:Internet properties established in 2018