Canoo
EVUSA
New to Unitard
💀 Dead / Bankrupt
Peak $2.4 BillionToday
~-99%
from peak
- 🦄Became a unicorn2020
- 📈Peak valuation$2.4 Billion ’20
- 💔Became a Unitard~2022
- 💸Last valuationWiped out
🔥 Raised & burned
$595M
Total raised
$323K/day
Burned · 5.0y alive
Funding: TechCrunch
Current status
Chapter 7 (Jan 2025); liquidation
The rise & fall
6 moments · 2017–2025The key moments, with employee sentiment along the way.
2017
2017
Founded as Evelozcity
Ex-BMW and Faraday Future executives set out to build a modular electric "lifestyle vehicle"; the Canoo rename comes in 2019.
TechCrunch
Dec 2020
Dec 2020
The peak: a $2.4B SPAC debut$2.4B
Merges with Hennessy Capital and lists on Nasdaq as GOEV, pitching modular EVs and subscription models.
TechCrunch
2021
2021
Executive exodus, strategy whiplash
Leadership churns as new CEO Tony Aquila reshapes the plan, and regulators open an inquiry into the SPAC deal.
TechCrunch
2022
2022
Falls out of the club
Chronic cash shortages and going-concern warnings drag the stock far below its SPAC-era value, with barely any vehicles built.
TechCrunch
2023–24
From the inside · Glassdoor reviews, 2023–24
Employees saw the end coming: Glassdoor reviews flagged critically low cash by mid-2023, and in the final months insiders recounted rolling furloughs — staff brought back only to be furloughed again, then laid off outright.
Jan 2025
Jan 2025
Chapter 7 — joins the Unitard Club 💔
After ~$595M raised and minimal production, Canoo files for liquidation — roughly 99% of its value gone.
TechCrunch
$2.38Bof peak value erased · 5 years
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Canoo was a US electric-vehicle startup valued around $2.4B after a 2020 SPAC merger, pitching modular EVs and subscription models. It struggled with chronic cash shortages, leadership turnover, and minimal production. Canoo filed for Chapter 7 bankruptcy and liquidation in January 2025, wiping out roughly 99% of its value.
Source: TechCrunch/Quartz
Where they went
- Tony Aquilaexecutive chairman & CEOInvestor & Board Observer at The Lost Explorer Mezcal Company
- Stefan Krauseco-founder & CEO (founded it as Evelozcity in 2017; ex-CFO of Deutsche Bank)Partner & CEO at Factory Network
- Ulrich Kranzco-founder & CTO (ex-BMW senior executive)Not on record
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
