Carwow

Carwow is an online marketplace for buying and selling cars. It uses the reverse marketplace model to remove the need for customers to negotiate with dealers when buying or selling their cars. When buying a new car, users choose the car they want, along with the various specifications and features, and then receive offers directly from dealers. When selling a car, users upload some basic details about their car (such as the registration number, mileage, and some photos), after which different car dealers are invited to bid to buy the car directly from them. It also provides information to prospective purchasers and gives feedback on rogue dealers. The company has a YouTube page, run by motoring journalist and Carwow's chief content officer Mat Watson, where different cars are reviewed. The company has partnered with the RAC as part of RAC Cars' ‘search, buy, sell’ website. Carwow was co-founded by James Hind, Alexandra Margolis, and David Santoro and launched in May 2013. Carwow’s investors include Balderton Capital, Episode 1 Ventures, Samos Investments, and Accel Partners. The company had sold over 20,000 cars valued at £550 million by January 2016.