Dismissed by some, Ocado aims to make a big splash with its IPO. As its founder sets out to sell his dream to investors, Jennifer Creevy finds out more about the man behind Ocado

Tim Steiner’s version of walking the supermarket aisles is to check his iPad for the latest order and delivery stats.

In fact, the co-founder and chief executive of Ocado could check those stats on any number of gadgets he carries around, including his iPhone, Blackberry or Android smartphone. Steiner loves his gadgets and that thirst for new technology is the reason why Ocado operates out of an incredibly high-tech depot in Hatfield.

Steiner, who last week embarked on an investor roadshow to drum up support for Ocado’s proposed £1.18bn float, is the brains behind the etail grocer.

His vision and determination to create a new way of home shopping for food, coupled with innovation in technology, has propelled Ocado from a standing start to become the darling of many middle class homes.

It was while working in New York for Goldman Sachs that Steiner first had the idea for Ocado. He saw Webvan, the US grocery chain that launched in the dotcom boom and collapsed two years later after burning through more than £1bn of cash, and believed that a similar operation would work better in the UK where population densities are higher.

And while Steiner had no prior retail knowledge, those close to him believe him to be a mastermind who can get to grips with anything he puts his mind to.

“There’s no doubt Tim is a genius,” says Ocado co-founder Jason Gissing. “He has a fantastically inquisitive mind whereby if he wants to learn about something it will only take him a matter of weeks, when it will take other people months or years. He can analyse complex problems and understand what really matters very quickly.”

It was Steiner’s enthusiasm for Ocado that persuaded co-founders Jonathan Faiman - a school friend of Steiner who remains a shareholder but stepped down from the board in March and moved abroad - and Gissing to give up their high salaries at Goldman Sachs and give the start-up a try.

Gissing remembers: “We all went on a diving holiday in the Bahamas over Christmas in 1999 to talk about the idea. Tim had terrible flu and was in bed most of the week so Jon and I were off diving. On the last day, we realised we hadn’t talked about the idea that much but then all decided to give it a go.”

One City analyst also points to Steiner’s “high IQ” as one of the reasons he believes he is “extremely persuasive”. While he still has to persuade investors to support the float, Gissing is convinced that Steiner will be recognised as “one of the greatest businessman of this generation” and claims he will be talked about alongside legends such as Sir Richard Branson and Charles Dunstone.

Steiner is also “extremely determined” says the analyst. That trait has been seen over the years, as the etailer has been berated by competitors - most notably Tesco boss Sir Terry Leahy who branded Ocado “a charity” because it has yet to make a pre-tax profit.

Steiner, whose two big passions aside from Ocado are his family and skiing, comes from a family of entrepreneurs. His great-grandfather founded Steiner Leisure, the world’s biggest operator of cruise ship spas and now listed on Nasdaq.

He is more at home behind the scenes than being the outward face of the company. But Steiner is very hands on with his staff. A former colleague says: “Tim is driven and enthusiastic, and this rubs off on the team.”

Steiner is clearly passionate about Ocado and can get irritated when some question the company’s model. Those who believe in him will hope that his enthusiasm and conviction will this week rub off on investors.

Family Married, with four children

Likes Skiing

Lives North London

Education Graduated from Manchester University with an Honours Degree in Economics, Finance and Accountancy in 1992

Career history

2000-present Chief executive, Ocado

1992-2000 Goldman Sachs, in various roles based in London, Hong Kong and New York in the Fixed Income division