Reports that Cazoo founder Alex Chesterman could take the online car dealer public suggest that the float could value the company at around £5bn. This is just the latest spectacular step in what has been a meteoric rise for Chesterman and his team, having only founded Cazoo in 2019. Not least because some reports predict a potential £1.6 billion (with a ‘b’) payout for Chesterman himself.
Let’s not forget, Cazoo has already attracted major backing to the tune of around £450 million, valuing the company at £2 billion. Excited talk of going public recently sent one Cazoo backer’s own shares up more than 20%.
Mr Chesterman himself is said to own a 30% stake in Cazoo, which has already sold more than 20,000 vehicles. If the £5 billion valuation is accurate the serial-start-up genius could well collect that lovely £1.6bn payout.