← Back to the club

Gogoro

EV / battery-swapTaiwan
New to Unitard
πŸ“‰ Public < $1B
PeakΒ $2.35 BillionToday
βˆ’98%
from peak
  1. πŸ¦„
    Became a unicorn
    2017
  2. πŸ“ˆ
    Peak valuation
    $2.35 Billion ’22
  3. πŸ’”
    Became a Unitard
    2023
  4. πŸ’Έ
    Last valuation
    ~$58.2M
Capital raised
$480M
Total raised
$109K/day
Raised per day

Total raised averaged per day over approximately 12.0 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology

Funding: Reuters (~$480M pre-SPAC)
Current status
Public on Nasdaq (GGR); founder-CEO Horace Luke resigned Sept 2024 amid a Taiwan subsidy-compliance inquiry; completed a 1-for-20 reverse split in Oct 2025
Live Β· GGRΒ· NasdaqCM
as of 2026-10-23
$2.90β–Ό 9.38% today
β‰ˆΒ $58.2 Million market cap Β· βˆ’97.5% from peak

The rise & fall

5 moments Β· 2011–2026

The key moments.

2011
Founded in Taipei
Horace Luke and Matt Taylor start Gogoro to build electric scooters and a battery-swap network.
Reuters
Apr 2022
Nasdaq debut via SPAC at ~$2.35B$2.35B
A merger with Poema Global lists Gogoro; shares briefly trade above a $3B market value.
TechCrunch
Sep 2024
Founder-CEO resigns amid a subsidy probe
Horace Luke steps down as a Taiwan subsidy-compliance investigation and losses weigh on the company.
Electrek
2026
Trades far below the unicorn mark
The market value falls to the tens of millions, ~98% below the SPAC debut.
MarketBeat
Today
Still in the club β€” and still trading
Live Β· GGR Β· NasdaqCMas of 2026-10-23
$2.90β–Ό 9.38% todayβ‰ˆ $58.2M cap Β· βˆ’97.5% from peak

How it happened

Gogoro, founded in Taipei in 2011 by Horace Luke and Matt Taylor, built electric scooters and a battery-swapping network used widely across Taiwan. It listed on Nasdaq in April 2022 through a SPAC merger with Poema Global at a $2.35B enterprise value, and the stock briefly traded above a $3B market value.

A saturated home market, slow overseas expansion in India, and an investigation into local subsidy compliance weighed on it, and founder-CEO Horace Luke resigned in September 2024. A 1-for-20 reverse split in October 2025 failed to lift the shares, which now trade far below the $1B unicorn line even as the battery-swapping network keeps running.

Glassdoor reviews pointed to below-market pay, murky decision-making and a shifting business model, with ratings slipping after 2024.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—. See our methodology.

Source: TechCrunch (Sep 16, 2021): a $2.35B enterprise-value SPAC merger with Poema Global Holdings, trading as GGR on Nasdaq from Apr 2022; a first-day close near $14 on ~236M shares implied a ~$3.3B market capitalization. SEC 6-K / Electrek (Sep 13, 2024): founder-CEO Horace Luke resigned amid a Taiwan subsidy-fraud investigation. Barchart (Sep 16, 2025): a 1-for-20 reverse split took effect Oct 6, 2025. Market capitalization has since fallen to the tens of millions, far below $1B. Founded 2011 by Horace Luke and Matt Taylor.

Founders & leadership

  • Horace Luke
    co-founder & CEO (led at peak; resigned 2024)
    Still there β€” Chairman and CEOLinkedIn β†—
  • Matt Taylor
    co-founder
    LinkedIn β†—
  • Henry Chiang
    CEO (since 2025)
    No public profile matched

Current roles as self-reported on LinkedIn, retrieved 2026-10-13. See our methodology.

Disclosed investors (27)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round Β· Crunchbase β†— Β· 2026-10-13 Β· Methodology Β· Leaderboard

πŸ¦„