Cazoo Becomes European Company of Consequence in Rapid Time
Today is an exciting day here at Sapphire. We’re thrilled to congratulate Cazoo on its public listing on the NYSE (NYSE: CZOO), and becoming a European company of consequence in rapid time!
Cazoo, which has fundamentally changed the way cars are purchased by enabling European consumers to select from thousands of cars online, purchase their vehicles and arrange delivery to their homes in 72 hours, has achieved a major milestone in becoming a publicly traded company.
This marks the 4th public listing in Sapphire’s European and Israeli portfolio this summer, which we believe is a testament to the immense talent and ambition of the entrepreneurs in the ecosystem.
Alex Chesterman, founder and CEO of Cazoo, embodies that high level of determination that we look for in an entrepreneur necessary to execute flawlessly and recruit a talented team. With Cazoo, Alex, a well-known serial entrepreneur, has once again shown his unique ability to spot changing consumer trends in large markets and has been able to drive execution on those opportunities. What’s more is that Alex and his team have built a high performing company in rapid time. In less than three years since founding Cazoo and less than two years since launching the business, Cazoo is now a public company!
Since we partnered with Alex and the Cazoo team last fall, we have continuously been impressed by the team’s ability to scale operations and swiftly execute on their goals. Highlights include:
- 3 acquisitions
- 4 new customer centres
- The launch of an all-inclusive monthly car subscription service in the U.K.
- Kicked off expansion into Germany and France
- Strong business performance across revenues and margin profile
And on top of that, Cazoo added five experienced independent board members to help lead the company in the public markets.
We feel incredibly humbled and proud to partner with Alex and the team to-date, and are looking forward to this next chapter in their journey. We know that this is just the beginning for Cazoo, and are excited to see what they achieve next as a public company!
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