The co-founder and CEO of the [used car platform](https://www.cityam.com/people-and-organizations/motorway/), Motorway, discussed how he built a $1 billion business from the ground up following the largest setback of his professional life.
In a forthcoming episode of *City AM*’s [Boardroom Uncovered](https://linktr.ee/boardroomuncovered), Tom Leathes shared insights into how he and his fellow founders chose the automotive sector for their next bold project.
Leathes’ first endeavor was Acre, a recruitment agency focused on sustainability and safety, which was followed by LoanCube, aimed at lead generation for secured loans and life insurance products. He also co-created Official Space, a service aggregating office spaces, before launching Top10, a hotel recommendation application that closed in 2015.
When questioned about their shift from failure to establishing Motorway, Leathes remarked: “I wish I could say there was one enlightening moment when everything clicked. It really wasn’t that straightforward.
“I founded the company with my co-founders, Harry [Jones] and Alex [Buttle], with whom I’ve collaborated for nearly two decades. This marks our fifth start-up together.
“We’ve essentially been trying to create businesses since our youth, nearly from our college days.
“Three [of our previous ventures] saw moderate success with rewarding exits.
“One was quite a major failure, just prior to the establishment of Motorway – which was quite difficult for us.
“We gained immense knowledge from both our triumphs and our failure.
“After we wrapped up our unsuccessful start-up, we took time off to reflect and considered pursuing jobs, doubting if we were suited for this path.
“However, we recognized that we had to extract lessons from those experiences for our next challenge.
“We dedicated roughly six months in an office, just the three of us, generating ideas for our next endeavor.”
In October 2024, [City AM](https://www.cityam.com/motorway-cuts-its-loss-as-sales-rise-at-itvs-six-nations-sponsor/) reported that Motorway managed to lessen its pre-tax losses in 2023 as the Six Nations TV sponsorship contributed to over £2.2 billion in sales.
The London-based firm, boasting a network of more than 7,000 car dealerships, declared a pre-tax loss of £31.7 million in its most recent financial year, a decrease from a £43.2 million loss in 2022. Revenue surged from £41.1 million to £60.9 million during the same timeframe.
In the discussion, Leathes conveyed their motivation for entering the automotive sector with their new venture: “We aimed for a company that would be a 20 or 30-year journey, creating a significant impact for its customers to surpass the established players.”
