⁍ Used car-selling platform Cazoo has raised an extra $309 million in a deal that values it at $2.6 billion.
⁍ The pandemic may be a headache for car companies, but less so for those imbued with a touch of technology glitter.
⁍ The Gap’s group of stores gained 3.5 million new customers through internet channels in the second quarter.
⁍ Online shopping is gaining popularity, so much so that the Gap’s group of stores gained 3.5 million new customers through internet channels in the second quarter.
– If you’re in the market for a used car, Cazoo has got you covered. The used-car marketplace has agreed to a $309 million deal that values it at $2.6 billion, Reuters reports. That’s up from the $579 million it raised to date, and brings the tech unicorn’s total money raised to $579 million. Cazoo, founded by entrepreneur Alex Chesterman, sells used cars through its website and app. Chesterman, creator of Lovefilm and online property platform Zoopla, only launched Cazoo less than a year ago and said on Thursday that it had only made $129 million pounds in revenue in the nine months since December. If it idles along at that pace until the end of the year, the current valuation would equate to around 15 times sales, twice more than US peer Carvana’s cruising speed.
Source: https://www.reuters.com/article/us-health-coronavirus-finance-breakingvi/breakingviews-corona-capital-unicorns-gap-ocado-lawsuit-idUSKBN26M6R8