Motors, a used car search platform supported by private equity firms O3 Industries and Novum Capital, has acquired the Cazoo brand. Cazoo, founded in 2018 by Alex Chesterman, aimed to simplify the car-buying process, achieving rapid growth and unicorn status, but ultimately fell into administration after a decline in online car sales post-COVID. Motors plans to launch a new Cazoo app and website, utilizing Cazoo’s brand equity to enhance its existing platform Motors.co.uk. This acquisition aims to offer dealers enhanced exposure and lead generation by leveraging Cazoo’s established consumer awareness. Barry Judge, CEO of Motors, and Daniel Ozen, president at O3 Industries, highlighted the strategic benefits of this acquisition as they aim to be key partners to car dealers.
Automotive, Private Equity, E-Commerce,United Kingdom, United States, Germany