The Ocado IPO

July 2010

Yesterday morning Ocado began life as a public company. This was a seminal moment for us all. With public ownership comes more scrutiny and comment. But with it too comes new capital to help us continue to grow and expand, to create more jobs and greater opportunities for all of our fantastic people, and to deliver more award-winning customer service. The last 10 years have rarely been easy, and our transition to a PLC was no exception.

On Tuesday we announced a decision to lower the price range at which shares would be offered in the flotation. The market has a view on what the ‘right’ price for Ocado shares is, and we wanted to respect that view.

We firmly believe that our decision to proceed in this manner – which, unsurprisingly, has generated a lot more commentary and media coverage – is in the very best long-term interests of the business. Bear in mind that we started from scratch in January 2000. Today we have one of the UK’s most visible brands, 4,300 talented and committed people, and many more loyal customers. The competition in our chosen industry is fierce, and we have many challenges ahead of us, but just look at how far Ocado has come (from that first tiny, single-roomed London office…) in ten turbulent, but incredible years?

We’re incredibly proud of what we do and how we do it; we’re doing something different here and, as my CEO Tim said to journalists this week, we believe the future is exceptionally bright.

Thanks to all of you who have shopped or worked with Ocado; we couldn’t have made it this far without your support.

Jason Gissing

This entry was posted in Talking Ocado and tagged , , by Ocado. Bookmark the permalink.

About Ocado

Do your food shopping at ocado.com, the online supermarket. Our trusted drivers will carry groceries, wine, toys, flowers, homeware and more to your kitchen table in a one hour slot. Enjoy great offers and deals on value household brands, quality small producers, plus Ocado and Waitrose own label groceries.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s