Cazoo sees an acceleration in trading as car sales go online

[hungpalumbo976]

An online used car retailer has been valued at £2billion after seeing a surge in business during the coronavirus crisis.<br>Cazoo’s website and app let customers buy cars online and have them delivered to their home. <br>The UK start-up was started two years ago by LoveFilm and Zoopla founder Alex Chesterman, 50.<br> Motor movers: Cazoo’s website and app let customers buy cars online and have them delivered to their home<br>And after people flocked to the firm’s online platform during lockdown – when many physical car dealerships were forced to shut – Cazoo is raising £240million from investors to fund a major expansion.<br> RELATED ARTICLES Share this article Share Chesterman said: ‘Over the past few months we have seen an acceleration in the shift from offline to online car buying. <br>’This latest funding gives Cazoo the firepower to deliver on our plans to provide the best possible car buying experience for UK consumers.'<br> The fundraising puts the company’s worth at about £2billion overall, more than double its previous valuation.<br>Among the investors are Daily Mail & General Trust – the Daily Mail’s parent company – which owns a 22 per cent stake in the firm.<br>A spokesman for DMGT said ‘Cazoo has created significant value for DMGT since it launched its services to customers in December 2019 and DMGT remains a supportive investor.'<br>

#fiveDealsWidget .dealItemTitle#mobile display:none
#fiveDealsWidget display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px
#fiveDealsWidget div, #fiveDealsWidget a margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif
#fiveDealsWidget .widgetTitleBox display:block; float:left; width:100%; background-color:#af1e1e;
#fiveDealsWidget .widgetTitle color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px;

#fiveDealsWidget a.dealItem float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;
#fiveDealsWidget a.dealItem#last margin-right:0
#fiveDealsWidget .dealItemTitle display:block; margin:10px 5px; color:#000; font-weight:bold
#fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img float:left; display:block; margin:0; padding:0
#fiveDealsWidget .dealItemImage border:1px solid #ccc

#fiveDealsWidget .dealItemImage img width:100%; height:auto
#fiveDealsWidget .dealItemdesc float:left; display:block; color:#004db3; font-weight:bold; margin:5px;
#fiveDealsWidget .dealItemRate float:left; display:block; color:#000; margin:5px
#fiveDealsWidget .footerText a:hovertext-decoration: underline;
#fiveDealsWidget .footerSmallfont-size:10px; padding-top:10px;
@media (max-width: http://lostfilm.hd-lostfilm.net 635px)
#fiveDealsWidget a.dealItem width:19%; margin-right:1%

#fiveDealsWidget a.dealItem#last width:20%

@media (max-width: 560px)
#fiveDealsWidget #desktop display:none;
#fiveDealsWidget #mobile display:block!important
#fiveDealsWidget a.dealItem background-color: #fff; height:auto; min-height:auto
#fiveDealsWidget a.dealItem border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px
#fiveDealsWidget a.dealItem#last border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px
#fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last width:100%

#fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage float:left; display:inline-block
#fiveDealsWidget .dealItemImage width:35%; margin-right:1%
#fiveDealsWidget .dealItemContent width:63%
#fiveDealsWidget .dealItemTitle margin: 0px 5px 5px; font-size:16px
#fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate clear:both

TOP DIY INVESTING PLATFORMS

adverts.addToArray(“pos”:”inread_player”)Advertisement

[Author]

Posts