Jonathan Faiman

American businessman

Jonathan Faiman (born 1969) was one of the three founders of online grocery and technology business Ocado in 2000. He left the business in 2008, before the company floated on the London Stock Exchange.2

From Wikipedia’s article on Jonathan Faiman (this version), CC BY-SA 4.0.

Born Feb 9, 1969.1

About

Faiman sold most of his shares in Ocado in 2010 at the time of its IPO for a reported value of £7 million. If owned in May 2020, the shares would have been worth over £500 million.

More recently, in 2018, he founded Today Development Partners, also known as TDP and T0DAY (spelled with a zero), also an online grocery business that was established to rival his former business Ocado. This business has been the subject of controversy and litigation. In July 2019, Faiman was sued by Ocado over allegations that Faiman had colluded with Jon Hilary, then a senior Ocado employee, to steal confidential information from Ocado in order to launch T0DAY. In June 2021, the case was settled following an admission of wrongdoing by the pair and Faiman making a "significant payment" to Ocado. Ocado said it had recovered the confidential information and the High Court has made a permanent injunction, backed by a penal notice, preventing Faiman from using the confidential information in the future. The future of TDP is unclear.

From Wikipedia’s article on Jonathan Faiman, shared under CC BY-SA 4.0.2

Companies

Career

Occupation: chief executive officer, banker.4

  • Date not recordedFounded Ocado3

Faiman worked at Goldman Sachs as a bond trader before becoming one of the three founders of Ocado in 2000. The other founders are Jason Gissing and Tim Steiner, both of whom were also Goldman Sachs employees. Faiman left Ocado in 2008 and stepped down from the board in 2010. Ocado is now a FTSE 100 online grocery and technology company with a market capitalisation of nearly £15 billion.

Having left Ocado, Faiman started a wheat farming business in Ukraine. In 2015, Faiman moved to run Neos Geosolutions, a company that aimed to collect and analyse geological data to find new oil and gas reserves onshore. Despite being backed financially by Bill Gates, Goldman Sachs and Kleiner Perkins, the business failed in 2018 and was being sued by investors until Faiman settled the case out of court.

In 2018, Faiman founded T0DAY and, in May 2019, it was announced that Waitrose was in discussions with T0DAY for it to become its online retail partner after Ocado had terminated their 20-year relationship in favour of a partnership with Marks and Spencer. However, Waitrose terminated these negotiations in July 2019 after a court search found hundreds of confidential Ocado documents in Faiman's possession, which led to Ocado suing Faiman, TDP and Jon Hillary for intellectual property theft.

In March 2022, TDP entered administration, with Ocado acquiring some of the company's assets.

From Wikipedia’s article on Jonathan Faiman (this version), CC BY-SA 4.0.

Personal life

  • ResidenceMonaco5 6

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7