Ocado’s new offer to investors: quinoa with added robotics

The company, soon to update on trading, has ambitions to shift from low-margin grocery sales to being a technology platform

January will mark 20 years since three former Goldman Sachs bankers with no experience of food retailing hatched a plan for an online grocer.

The company started off as Last Mile Solutions and soon changed its name to Ocado. The rest is history – but a bumpy one. Ocado has fallen in and out of favour since its flotation in 2010 as investors have waited for Tim Steiner, its chief executive and the last of the trio remaining, to make good on his pledge to revolutionise food shopping.

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