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Alex Chesterman

Alexander Edward Chesterman OBE (born 9 January 1970) is a British internet entrepreneur recognized for co-founding ScreenSelect, which evolved into the DVD rental service LoveFilm acquired by Amazon in 2011, founding the online property portal Zoopla in 2007, and establishing the used car e-commerce platform Cazoo in 2018.^[1]^[2] Chesterman's ventures capitalized on digitizing consumer markets, with Zoopla achieving a valuation exceeding £1 billion upon its public listing and subsequent sale to Daily Mail and General Trust for approximately £2.2 billion in 2018, contributing to his peak net worth of £750 million as estimated in 2021.^[3]^[4] However, Cazoo's aggressive expansion, including inventory purchases and SPAC listing in 2021 that briefly valued it at over $7 billion, led to substantial losses amid rising interest rates and operational challenges, culminating in debt restructuring, Chesterman's departure as CEO in 2023, and the company's entry into administration in 2024.^[5]^[6]^[7] Awarded an OBE in 2016 for services to the digital economy, Chesterman has also been an active angel investor in UK tech startups and was named Ernst & Young Entrepreneur of the Year in 2013.^[8]^[9]

Early Life and Education

Family and Upbringing

Alex Chesterman was raised in the affluent St John's Wood neighborhood of northwest London in a family with an entrepreneurial bent.^[10] His father, John Chesterman, owned chains of sandwich bars, which contributed to a household environment emphasizing business acumen and self-reliance.^[10]^[11] The family enjoyed a conventional middle-class upbringing, marked by stability and opportunities that aligned with Chesterman's early exposure to work ethic, including part-time telesales jobs during his sixth form years.^[11]^[12]

Academic Background

Chesterman attended St Paul's School in London during his secondary education.^[13] He subsequently enrolled at University College London (UCL), where he earned a Bachelor of Science degree in Economics.^[14] This undergraduate program provided foundational knowledge in economic principles, which later informed his entrepreneurial ventures in digital marketplaces.^[2] No further advanced degrees or academic pursuits beyond his UCL bachelor's are documented in available records.^[15]

Entrepreneurial Career

Initial Ventures: ScreenSelect and LoveFilm

In 2003, Alex Chesterman co-founded ScreenSelect, an online DVD-by-mail rental service, alongside William Reeve, drawing inspiration from the U.S.-based Netflix model to disrupt traditional video rental stores in the UK.^[16]^[17] As executive chairman, Chesterman oversaw operations that enabled subscribers to select and receive DVDs by post with prepaid return envelopes, capitalizing on growing broadband adoption and consumer demand for convenience.^[17]^[11] ScreenSelect quickly emerged as a key player in the nascent online rental market but faced competition from established services. In April 2006, it merged with rival LoveFilm—a company founded in 2002—creating Europe's largest DVD-by-mail provider under the LoveFilm brand, with expanded distribution across multiple countries including the UK, Germany, and Scandinavia.^[18]^[19] The merger consolidated market share, enabling LoveFilm to invest in logistics, inventory of over 70,000 titles, and eventual pivots to digital streaming amid shifting consumer preferences away from physical media.^[18] By 2008, Amazon had acquired a 42% stake in LoveFilm as part of strategic partnerships, including absorbing Amazon's own UK and German DVD rental operations.^[18] In January 2011, Amazon purchased the remaining shares for approximately £200 million (valued at around $250–320 million depending on exchange rates), integrating LoveFilm's subscriber base—then exceeding 1.5 million—and technology into its Prime ecosystem before rebranding streaming services as Amazon Prime Video.^[20]^[18]^[21] This exit marked Chesterman's first major entrepreneurial success, yielding significant returns from his early involvement.^[22]

Founding and Growth of Zoopla

In 2007, Alex Chesterman co-founded Zoopla with Simon Kain, drawing inspiration from his personal experience compiling property data from the UK Land Registry into spreadsheets during househunting, which highlighted the lack of accessible, centralized real estate information.^[23]^[8] The platform launched publicly in 2008 as a property search and data aggregation site, aggregating listings from estate agents and providing free access to sold prices, valuations, and market insights to promote transparency in the UK residential property market.^[24] Zoopla's early growth was fueled by seed funding of approximately £2.95 million in January 2008, followed by a Series A round of £3.75 million in January 2009 from investors including Atlas Venture and Octopus Ventures, enabling rapid scaling amid the global financial crisis.^[25]^[26] Subsequent rounds included £3.25 million in Series B funding in December 2010 and £7.75 million in Series C in February 2012, supporting team expansion from an initial group of about eight employees and organic user acquisition through word-of-mouth and data-driven features.^[27]^[28] The site reported a 25% month-over-month traffic increase in July 2009, reflecting strong early adoption as a challenger to established portals like Rightmove.^[29] By 2014, Zoopla had established itself as a leading UK property portal, culminating in an initial public offering on the London Stock Exchange under Zoopla Property Group (ZPG) Plc, which valued the company at around £1.6 billion and marked a significant milestone in its transition from startup to mature digital media business.^[30]^[31] Chesterman served as CEO during this period, overseeing product innovations like user-generated content and analytics tools that differentiated Zoopla in a competitive market dominated by agent-paid listings.^[32]^[16]

Expansion via ZPG Plc and uSwitch Acquisition

ZPG Plc, the parent company of Zoopla, was formed to consolidate Chesterman's property-related digital assets and went public via an initial public offering on the London Stock Exchange on June 18, 2014, raising funds that valued the group at approximately £919 million.^[33] As founder and CEO, Chesterman positioned the listing as a means to fuel further growth in digital property and consumer services, leveraging public market access for capital to pursue acquisitions and diversify beyond core property listings.^[34] The IPO enabled ZPG to expand its ecosystem, integrating platforms like PrimeLocation while building a broader media and data-driven business model focused on user traffic and monetization through advertising and partnerships.^[35] A pivotal expansion move came in April 2015, when ZPG acquired uSwitch, a leading UK price comparison website for utilities, insurance, and broadband, for an upfront payment of £160 million, with potential additional consideration up to £190 million based on post-acquisition performance metrics.^[36] Chesterman described the deal as transformational, combining Zoopla's property audience with uSwitch's 6 million annual users to create synergies in consumer finance and home services comparison, thereby extending ZPG's reach into adjacent markets.^[37] The acquisition was financed in part by a £37.5 million facility from Lloyds Bank, reflecting ZPG's strategy to deploy IPO proceeds and debt for inorganic growth amid rising digital traffic—ZPG reported 265.5 million visits to its sites in the six months prior, up 11% year-over-year.^[38] Post-acquisition, uSwitch contributed to ZPG's diversification, generating revenue from commissions on switched services and enhancing cross-selling opportunities with Zoopla's property users, who often seek bundled home-related comparisons.^[39] By 2019, uSwitch had saved consumers approximately £139 million on energy bills alone in the prior year, underscoring its operational scale and alignment with ZPG's consumer-centric expansion under Chesterman's leadership.^[40] This move solidified ZPG as a FTSE 250-listed entity with multi-vertical digital assets, though it later faced scrutiny in regulatory inquiries like the 2017 CMA probe into ZPG's Expert Agent acquisition for potential competition effects in lettings software.^[41]

Cazoo: Launch, Expansion, and Collapse

Cazoo was founded in 2018 by Alex Chesterman, the entrepreneur behind Zoopla, with the aim of creating an online marketplace for used cars that streamlined the buying process akin to e-commerce giants like Amazon.^[42] The platform officially launched its online used car sales service in the United Kingdom in December 2019, capitalizing on the COVID-19 pandemic's acceleration of digital retail trends by offering home delivery, 7-day money-back guarantees, and comprehensive vehicle inspections.^[11] Chesterman served as founder and CEO, directing the company's initial focus on disrupting the fragmented UK used car market, which traditionally relied on physical dealerships.^[43] Expansion accelerated in 2020-2021 amid surging demand for contactless car purchases, with Cazoo raising significant funding and achieving unicorn status. By October 2020, its valuation had doubled to $2.6 billion following investments that supported rapid scaling.^[42] In March 2021, Cazoo announced a merger with a special purpose acquisition company (SPAC), taking it public on the New York Stock Exchange at a $7 billion valuation and expanding its workforce to over 1,800 employees across the UK and initial European markets including Germany, France, and Spain.^[43] The company pursued aggressive growth through acquisitions, such as Spain's Swipcar and Italy's Brumbrum in early 2022, while raising $630 million in February 2022 from investors led by Viking Global Investors to fuel UK and EU operations.^[44]^[45] Revenues surged over 300% year-on-year to at least £665 million in 2021, with targets set for 200% growth and 100,000 vehicle sales in 2022, though gross profit per unit rose by £670 amid operational efficiencies.^[46] The collapse began in earnest in 2022 as post-pandemic market dynamics shifted, with normalizing used car prices—initially inflated by global semiconductor shortages reducing new car supply—eroding margins after Cazoo had expanded inventory aggressively at peak costs.^[47] Losses ballooned to £700 million in 2022, prompting a retreat from continental Europe, closure of the car subscription service after £210 million in spending, and multiple rounds of layoffs, including hundreds of jobs cut in 2023-2024.^[48]^[49] Chesterman stepped down as CEO in April 2023 amid share price declines of over 99%, replaced by COO Paul Whitehead as the company sought restructuring.^[50] By May 2024, Cazoo entered administration, risking 200 additional jobs, following a drastic cost-cutting initiative that slashed operations and highlighted overexpansion, high cash burn, and sensitivity to economic pressures like supply chain disruptions and fluctuating consumer demand.^[51]^[5]

Political Involvement

Brexit Legal Challenge

In July 2016, shortly after the United Kingdom's referendum on European Union membership resulted in a vote to leave on June 23, Alex Chesterman, then CEO of Zoopla, emerged as a key backer of an early legal challenge aimed at requiring parliamentary approval before the government could invoke Article 50 of the Treaty on European Union, which formalizes withdrawal negotiations.^[52]^[53] The challenge, coordinated by the London law firm Mishcon de Reya, contended that the executive branch lacked prerogative powers to trigger Brexit without legislative consent, emphasizing parliamentary sovereignty under the UK's unwritten constitution.^[54]^[55] Chesterman's involvement was disclosed by political blogger Guido Fawkes, who identified him as one of several anonymous business figures funding and promoting the litigation amid efforts to anonymize supporters due to potential backlash.^[52]^[56] As a prominent tech entrepreneur whose company relied on cross-border data and talent flows, Chesterman aligned with arguments that unilateral executive action would undermine democratic processes and economic stability, though he later clarified in interviews that he favored parliamentary scrutiny rather than outright reversal of the referendum result.^[57] This position reflected broader Remain campaign concerns post-referendum, where 51.9% had voted to leave, prompting multiple parallel challenges testing the boundaries of royal prerogative versus statutory authority.^[58] The Mishcon de Reya effort contributed to the momentum that culminated in the landmark Supreme Court ruling on January 24, 2017, in R (Miller) v Secretary of State for Exiting the European Union, which by a 8-3 majority affirmed that triggering Article 50 necessitated an Act of Parliament, effectively validating the core legal premise Chesterman had supported.^[58] Chesterman distanced himself from ongoing proceedings by mid-2016, stating he was no longer directly involved but continued to advocate for informed legislative debate on the terms of exit.^[57] Critics, including pro-Leave commentators, portrayed such challenges as elite-driven attempts to circumvent the popular vote, highlighting tensions between direct democracy and institutional checks.^[52]

Broader Political Donations and Positions

Chesterman has donated substantially to the Liberal Democrats, with records indicating a total of £440,000 contributed to the party.^[59] These donations align with his advocacy for the United Kingdom remaining in the European Union, as evidenced by a £300,000 contribution made during the post-referendum period aimed at efforts to halt Brexit implementation.^[60] In addition, on May 3, 2022, he donated £12,500 to the party.^[61] No verified donations to other major UK political parties, such as the Conservatives or Labour, appear in Electoral Commission-linked records.^[62] Chesterman's public positions emphasize pro-EU stances, consistent with Liberal Democrat policy on European integration, though he has not articulated broader ideological affiliations in available statements.^[60]

Recognition and Criticisms

Awards and Honors

In 2012, Chesterman was named Best Startup Leader/CEO at the Guardian Awards for Digital Innovation, recognizing his leadership in founding Zoopla.co.uk.^[63] He received the Ernst & Young Entrepreneur of the Year award in 2013 for his contributions to the property technology sector through Zoopla.^[64] Chesterman was appointed Officer of the Order of the British Empire (OBE) in the 2016 Queen's Birthday Honours for services to digital entrepreneurship.^[65] In 2020, he was included in the Telegraph Tech Hot 100 list, highlighting influential figures in UK technology.^[66]

Business Criticisms and Failures

Cazoo, the online used car retailer founded by Chesterman in 2018, entered administration on May 21, 2024, after failing to secure additional funding amid ongoing losses and a cash burn rate of approximately £10 million per month.^[67] The company, which had achieved a peak valuation of around $8 billion following its public listing via a SPAC merger in 2021, generated £1.25 billion in revenue but reported a £275 million loss in its final full year, never achieving profitability despite aggressive marketing and expansion.^[51]^[68] Analyses of the collapse highlighted flaws in Cazoo's inventory-heavy model, which required purchasing, refurbishing, and delivering vehicles—contrasting with the asset-light lead-generation approach Chesterman had successfully employed at Zoopla—exposing the firm to risks from fluctuating used car prices, high logistics costs, and inventory write-downs.^[5] The business expanded rapidly into markets like Germany, France, and Spain before establishing sustainable operations in the UK, incurring substantial fixed costs for refurbishment centers and nationwide delivery infrastructure amid a post-pandemic normalization of car markets.^[69] Chesterman stepped down as CEO in January 2023 amid a 97% drop in share value, transitioning to chairman before fully resigning in December 2023, by which point a $630 million debt-for-equity swap had significantly diluted his stake and those of early investors.^[70]^[71] Critics, including industry executives, faulted Chesterman's leadership for over-reliance on investor capital to fund lavish advertising campaigns and ambitious targets, such as outselling major dealer groups like Arnold Clark within four years, which some viewed as unrealistic given the physical complexities of car retailing compared to digital property or DVD rental services.^[72] Chesterman's public characterization of traditional dealership practices as "fundamentally flawed" drew backlash from sector participants, who argued it underestimated entrenched consumer preferences for in-person inspections and negotiations, contributing to perceptions of hubris in mimicking struggling U.S. models like Carvana.^[73]^[74] The administration process put over 200 jobs at risk and underscored broader challenges for online-only auto retail, with limited evidence of scalable demand for fully digital transactions in the used car segment.^[51]^[75] Earlier ventures like Zoopla faced competitive scrutiny over agent portal fees and market share tactics, but no major regulatory penalties or operational failures were recorded, with the company achieving a successful £2.2 billion sale in 2018.^[76] Cazoo's demise, however, marked a significant reversal for Chesterman, whose net worth reportedly fell sufficiently to exclude him from the 2023 Sunday Times Rich List after prior inclusion.^[7]

Personal Life

Family and Residences

Chesterman is married to Angela Chesterman, with whom he has two sons.^[10]^[13] He has expressed a desire for a third child, though his wife declined.^[22]^[10] Chesterman resides with his family in a large mansion in Highgate, a affluent area of North London.^[77] His primary residence is in England.^[1]

Interests and Philanthropy

Chesterman has identified entrepreneurship and business innovation as his primary personal interests, describing work as his passion pursued on a near-constant basis, with late-night reflection serving as a key period for ideation.^[78] In philanthropy, Chesterman and his wife Angela serve as patrons of Jewish Care, a UK-based organization providing social care and support services to the Jewish community, entailing minimum annual donations of £12,500.^[79] The couple has also made donations to Norwood, a Jewish charity focused on children and families with special educational needs and disabilities, as well as to the Movement for Reform Judaism, which supports progressive Jewish communities through funding for core operations and programs.^[80] ^[81] In February 2021, Chesterman personally matched a £12,500 corporate donation from Cazoo to the Daily Mail's Mail Force Ukraine Appeal, bringing the total contribution to £25,000 plus gift aid for humanitarian aid efforts.^[82] In July 2025, he co-signed an open letter in The Telegraph advocating for policies that encourage high-net-worth philanthropy, underscoring its historical role in funding British institutions and its potential to address contemporary challenges amid public donations exceeding £15 billion annually.^[83]

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The CEO of One of the UK's Biggest Tech Companies Is Promoting a ...
Jul 4, 2016 · Alex Chesterman, the CEO of property listing site Zoopla, has been promoting a legal challenge to the Brexit vote, Guido Fawkes reports.
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Alex Chesterman, CEO of Zoopla and recent recipient of an OBE, is one of the names behind a legal challenge to Brexit. London law firm Mishcon de Reya is ...
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https://donation.watch/de/unitedkingdom/party/LIBDEMS/donors
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Top-Spender der Lib Dems Großbritannien | DonationWatch
... #31. Her Majesty's Revenue and Customs. 487.132,70 £(1 %). #32. Alexander E Chesterman OBE. 440.000,00 £(0 %). #33. Joan Read. 434.907,62 £(0 %). #34. Sheffield ...
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Alex Chesterman net worth | Evening Standard Tech Rich List
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POLITICAL DONATIONS DATABASE : Alexander E Chesterman to ...
POLITICAL DONATIONS DATABASE : Alexander E Chesterman to Liberal Democrats ... On 03/05/2022, Alexander E Chesterman donated £12,500.00 to the Liberal Democrats.
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Top donors to political parties in United Kingdom for 2020 - 2024
Donor contributions to political parties. The Treemap visualizes the party donations in a clearly structured display. The top level shows the individual donors, ...
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Alex Chesterman OBE - Startups Awards 2018 Judge
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Alex is one of the UK's leading digital entrepreneurs with a talent for seeing a new trend and turning it into a thriving business.
[68]
Cazoo calls in administrators as it crashes into insolvency
May 21, 2024 · Earlier this month, Cazoo admitted it had failed to find new funding as it burned through £10m in cash per month. Mr Chesterman founded Cazoo in ...<|separator|>
[69]
Cazoo Collapses After $8 Billion Valuation Debacle
May 22, 2024 · Chesterman's stake in Cazoo was significantly diminished last year when the company undertook a debt-for-equity swap involving $630 million in ...
[70]
Administrator Appointed As Used Auto Site Cazoo Fails NYSE ...
May 22, 2024 · Cazoo was founded by Alex Chesterman, who describes himself as a serial entrepreneur, and who had previously launched popular real estate ...Missing: criticisms | Show results with:criticisms
[71]
Cazoo chief executive steps down after 97pc collapse in value
Jan 18, 2023 · Mr Chesterman, who made his name founding house price site Zoopla and LoveFilm, which he sold to Amazon, will retain his job as executive ...
[72]
Cazoo collapses into administration putting more than 200 jobs at risk
May 21, 2024 · Chesterman departed the business last year after it exchanged $630million of debt for $200million in bonds and shares. By that point, Cazoo was ...
[73]
Swansway Director Criticises Cazoo's Failed Business Model
Jun 7, 2024 · He criticised Chesterman's bold claims, including the ambition to sell more cars than established industry giant Arnold Clark within four years ...Missing: practices | Show results with:practices
[74]
Used car dealer Cazoo is searching for a financial rescue to avoid ...
Feb 11, 2024 · Chesterman stirred controversy in a press interview by criticizing traditional car sales methods as “fundamentally flawed.” To elevate its brand ...
[75]
The serial entrepreneur who took a wrong turn on the second-hand ...
Jun 12, 2022 · When Alex Chesterman launched Cazoo, the entrepreneur admitted he was imitating US business Carvana in bringing app-based car sales to Britain.Missing: practices | Show results with:practices
[76]
Limited potential for online-only sales led to collapse of Cazoo
Jul 26, 2024 · Cazoo was founded by Alex Chesterman who also launched Zoopla ... failure of Cazoo's business was caused by the limited potential for ...
[77]
Zoopla, PrimeLocation and uSwitch owner ZPG sold for £2.2bn
May 11, 2018 · Shares in ZPG, which acquired uSwitch in 2015 for £190m, jumped by more than 30% in early trading, while rival Rightmove rose by 5%. The deal ...
[78]
Alexander Chesterman: The Brain Behind Zoopla and Cazoo
Alexander Chesterman is a renowned UK entrepreneur, credited with founding two groundbreaking digital platforms: Zoopla and Cazoo. He was born on January 9, ...Missing: founder | Show results with:founder
[79]
Cazoo founder reveals the secret to the perfect business idea - Metro
Jul 12, 2021 · I find late night is a good thinking time. I'm often asked what my hobbies are, but work is my passion and my business is 24/7, 360 days a year.Missing: interests | Show results with:interests
[80]
Become a Patron - Jewish Care
Patrons are the backbone of our organisation, giving a minimum annual donation of £12,500. You may know that Jewish Care touches the lives of 10,000 people ...
[81]
[PDF] i didn't think we would ever need norwood - Charity Extra
Feb 20, 2023 · To find out how we can help you achieve your philanthropy goals, ... Angela & Alex Chesterman. The Craps Charitable Trust. Camilla & Jeremy ...
[82]
[PDF] Funding Opportunities - The Movement for Reform Judaism
The Fund can cover core costs, staffing, volunteer costs, supplies and equipment, communications or other critical charitable areas. We want to help ensure that ...
[83]
Mail Force video reaches audience of 115m as donations hit £10.6m
Feb 11, 2021 · Online car retailer Cazoo gave £12,500 while its founder Alex Chesterman matched the amount with another £12,500. Gift aid of £3,125 on Mr ...
[84]
The benefits Bill debacle offered a valuable lesson for politicians
Jul 6, 2025 · Philanthropy built Britain's great universities, museums and cultural institutions. As we face unprecedented global challenges, we need today's ...