British online car retailer, Cazoo, is reportedly making plans to go public at a valuation of well over £5B (approx €5.7B). If Cazoo does decide to go public, it will not be until later this year, Sky News reports.
According to the report, the company could either go for a London listing, “but that a merger with a New York-listed special purpose acquisition company was at least as likely an outcome.”
Alex Chesterman, the founder and CEO of Cazoo, is already in talks with bankers at Credit Suisse, Goldman Sachs and Numis “on options for accelerating its growth prospects.”
The company aims to become the “Uber” of the “used car marketplace”. Cazoo claims that it wants its customers’ car buying experience to be seamless, transparent, and convenient just like purchasing any other product online.