Alex Chesterman with Cazoo transporterAlex Chesterman with Cazoo transporter


Cazoo prepares for $8bn flotation on Wall Street as it opens customer centre in Liverpool

  • Online car retailer opens 19th customer collection/drop-off site in UK
  • Flotation on New York Stock Exchange set to happen on Friday (Aug 27)
  • Valuation has increased by $1bn in less than a month
  • Founder Alex Chesterman will have a shareholding worth some $2bn

Time 4 weeks ago

Cazoo opened its latest customer centre today (Aug 23) with a site in Liverpool.

It marks the 19th customer collection/drop-off location opened by the online car retailer over the past 11 months.

Cazoo said it had invested more than £1m in the site – less than two miles from Goodison Park, home of Everton FC, which it sponsors – and had created 15 new jobs there since buying it earlier this year.

The news comes as it readies itself to float on the New York Stock Exchange later this week.

It is merging with special purpose acquisition company Ajax I for the listing, and the Sunday Times reported yesterday (Aug 22) that Cazoo had achieved an $8bn (£5.8bn) valuation – up from the $7bn valuation given earlier this month.

That’ll make it the highest-valued UK business listed on Wall Street.

The flotation will also give founder Alex Chesterman, pictured, a shareholding worth approximately $2bn (£1.45bn). It is also believed that 60 employees will become paper millionaires in the move.

Cazoo said it plans to open five more customer centres in the UK this year.

It originally offered free delivery but now charges £50 to deliver a vehicle to a customer’s home address.

Commenting on the opening of the Liverpool centre, Chesterman said: ‘We have been delighted by the response of consumers to our online car-buying and selling proposition.

Cazoo customer centre in Liverpool, artist's impression

An artist’s impression of the Cazoo customer centre in Liverpool

‘Our customer centres provide more options for our customers on how they want to receive their Cazoo car or hand over their existing car and also allow us to serve them better through our own service centres.

‘We’re excited to be opening our latest site in Liverpool, close to Goodison Park and just a stone’s throw away from the new Everton stadium, as we continue our mission to provide the best car-buying and selling experience to consumers across the UK.’

Pictures: Cazoo

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John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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