Document Actions
November 28 2008
Procter & Gamble takes stake in Ocado
The consumer goods giant has made its first ever investment in a retail business, acquiring a 1% stake in Ocado for £5 million
Procter & Gamble, the largest consumer goods company in the world, has bought a 1% stake in Ocado as part of the online retailer's latest £18m fundraising round. Why? For market research purposes, the Financial Times reports:
P&G, which has used the internet as a marketing tool in recent years, said last night that Ocado could prove a "very fertile testing ground" to better understand how consumers use the internet.
"We think it is a huge research opportunity. They have a unique business and we can learn from it... We have not exactly worked out the research projects we will be looking at, but it will give us a better understanding of how people use the internet," it said.
The rest of the £13 million raised by Ocado has come from the Apple Trust, which now owns about 12.5% of the company and has TetraPak billionaire Jon Rausing as its main beneficiary, says the FT.
Subscriptions