- Founded in 2018 by Zoopla creator Alex Chesterman, Cazoo aims to fill an eBay-shaped gap in the automotive industry.
- It’s now worth more than twice the $1 billion it was valued at in June, and has raised a total of £450 million to date.
- Chesterman says there’s been an “acceleration” in the shift from offline to online car sales amid the Covid-19 pandemic.
LONDON — Cazoo, a U.K.-based online marketplace for buying used cars, has seen its valuation double to £2 billion ($2.6 billion) after raising £240 million in a bumper round of funding.
Founded in 2018 by Alex Chesterman, creator of British property site Zoopla, Cazoo aims to fill an eBay-shaped gap in the automotive industry. Online sales still account for a tiny slice of the overall market globally.
The company only launched its e-commerce platform for