The online supermarket Ocado has grown rapidly. The company has signed up more than 650,000 customers for its Waitrose home delivery service since its inception in 2000. Founded by former Goldman Sachs bankers Tim Steiner, Jonathan Faiman and Jason Gissing, it has secured more than £300m from investors such as John Lewis, UBS and Goldman Sachs. Ocado operates from a huge, automated warehouse in Hatfield and plans to build several more across Britain. Sales have rocketed 119% a year from £29.9m in 2003 to £143m in 2005, when the company made a significant loss.
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