Investment in Cazoo

1 October 2020

Daily Mail and General Trust plc (DMGT)

Investment in Cazoo

DMGT notes that Cazoo, which aims to transform the way people buy used cars in the UK and is one of the country's fastest growing technology businesses, has announced that it has successfully raised an additional £240m of funding.  New and existing investors have participated at an enhanced valuation to previous funding rounds.

Cazoo has created significant value for DMGT since it launched its services to customers in December 2019 and DMGT remains a supportive investor.  

dmg ventures, which is responsible for DMGT's minority stakes and early-stage investments, is participating in the round, investing £34m, and DMGT's stake in Cazoo will now be c.22%, or c.20% on a fully diluted basis.  Cazoo will continue to be treated as an investment in DMGT's financial statements.

Cazoo's announcement is available at www.cazoo.co.uk/press.

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About DMGT

DMGT manages a portfolio of companies that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment.  The Group takes a long-term approach to investment and has market-leading positions in consumer media, insurance risk, property information, education technology and events & exhibitions.  In total, DMGT generates revenues of around £1.3bn.

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