Online car marketplace Cazoo has sold off its data platform Cazana to a mystery buyer for an undisclosed figure.
Selling off Cazana comes as part of the Cazoo withdrawing from the European market to focus solely on its car buying and selling in the UK.
UKTN has contacted Cazoo for clarification on who the data platform was sold to and for what amount.
According to the ecommerce brand, its sale will not have “any material impact” on Cazoo’s 2023 revenue.
Cazoo bought the data platform in September 2021 “for approximately £25m in cash”, which included the acquisition of data scientists and engineers. Cazana’s tools provide vehicle valuation, pricing and stock management.
The Cazana sale comes shortly after the firm sold off its German division Cluno earlier this month to ViveLaCar and The Platform Group for an unknown sum.
Earlier this month the London-based company went ahead with its reverse stock split and expansion of its authorised share capital.
Cazoo’s founder Alex Chesterman stepped down in January as the firm missed its financial targets as brought in a UK Q4 revenue of £315m.
Stripping back costs has been on Cazoo’s agenda since June when it cut 750 staff, which was then joined by a further 750 jobs in September.
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