Consumer goods giant
Procter & Gamble has given online retailer
Ocado a boost by acquiring a 1% stake in the business.
Although relatively small, the £5m investment by a successful
company like Procter & Gamble (P&G) has been welcomed by
other shareholders in the loss-making internet start up, the
Financial Times reports.
This is the first time P&G has invested in a retail
business, which sells
Waitrose goods over the internet.
According to P&G, the company plans to use its involvement
with Ocado to gain a better understanding of how people use the
internet.
The P&G investment comes in the latest fundraising by Ocado.
Ocadohas yet to make a profit after nearly nine years in
business.