At Ooooby, our mission is clear: to put “small-scale” back at the heart of the food system by empowering independent farmers and food producers.
Over recent decades, large, centralised food systems have marginalised and exploited small-scale farmers. Ooooby was created as a counterforce—a platform where independent producers can reclaim their rightful market share and break free from the grip of corporate giants.
But to truly fulfill this mission, Ooooby itself MUST remain independent. Even the most purpose-driven organisations can fall prey to corporate takeover, undermining the very principles they were created to protect. It’s one thing to say that we’re ‘mission driven’ but it’s another thing entirely to put the safeguards in place. That’s why we’re adopting a steward-ownership model.
Why Steward Ownership?
Protecting Against Corporate Takeover
Without steward ownership, Ooooby could be vulnerable to the same forces we aim to resist. Large corporations, which are increasingly seeking control over food supply chains, might see Ooooby, and other similar platforms, as a lucrative acquisition opportunity. If Ooooby were bought out, the platform could easily be repurposed to centralise control once again, undoing all the progress we’ve made toward supporting small-scale farmers.
Safeguarding Mission Over Profit
Even with the best intentions, no one can predict the future. As a team, we may be unwavering in our values today, but circumstances change. A multi-million-pound buyout offer could test anyone’s resolve. Similarly, no matter how mission-driven our investors appear now, there’s no guarantee they wouldn’t vote to sell if faced with a massive financial payout. Steward ownership removes this risk by embedding our mission into the core of our governance structure, making a sellout impossible.
Attracting the Right Kind of Investment
By adopting steward ownership, Ooooby locks in rules and principles that ensure investors align with our purpose. These principles are codified in our articles of association and shareholder agreements, effectively deterring profit-driven entities—like large retail giants—from taking an interest. Instead, we attract purpose-aligned investors who trust us to stay true to our mission and recognise the value of long-term community benefit over short-term financial gain.
Fundamentals of Steward-Ownership
Traditional ownership grants control and profit rights to shareholders. Steward-ownership changes this through:
Self-Governance: Voting rights remain with stewards, ensuring decisions align with the company's purpose.
Profit for Purpose: Returns to investors are capped and are thereafter shared among team and users.
Design Principles
Community Benefit: Decisions serve the entire community.
Community Protection: Prevent sale or extraction for minority benefit.
Adaptability: Simple and flexible structure that maintains self governance.
Governance Structure
Steward Entity: Majority voting rights.
Responsibilities: High-level decisions to fulfil Ooooby's purpose.
Qualifications: Deep understanding of the purpose, commitment to core principles, relevant skills.
Guardian Entity: 1 vote veto power.
Responsibilities: Ensure adherence to steward-ownership principles; veto power over key governance changes.
Qualifications: Independent, committed to Ooooby's purpose, no conflicting roles.
Profit Share
Once the investors have been paid their capped returns, surplus cash flow will be invested into advancing small-scale food and shared with the team and the users of the platform.
