GoodGood Layoffs

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Toronto-based rapid local commerce delivery startup GoodGood has ceased operations entirely, resulting in layoffs for all 60 of its employees. The company, which operated in the quick commerce and food delivery industry, announced its shutdown on November 21, 2023, after failing to secure additional funding. Founded in 2021 and having raised a $6.5 million CAD seed round, GoodGood built a network of cafés and delivery services in downtown Toronto. The startup cited a severe downturn in venture capital availability, coupled with high interest rates, inflation, and a looming recession, as the primary reasons for its closure. This reflects broader challenges in the rapid delivery sector, where even larger players have scaled back. The company is assisting its retail-focused staff in finding new positions at other local businesses.

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