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GoGoX

Logistics / on-demand deliveryHong Kong
New to Unitard
📉 Public < $1B
Peak $1.31 BillionRecorded estimate
~-99%
from peak
  1. 🦄
    Became a unicorn
    Aug 2017
  2. 📈
    Peak valuation
    $1.31 Billion ’22
  3. 💔
    Became a Unitard
    Jul 2022
  4. 💸
    Last valuation estimate
    ~$13.1M
Current status
Listed on the Hong Kong Stock Exchange (2246) since June 24, 2022; 10-for-1 share consolidation in April 2025; agreed in October 2026 to sell its mainland China unit, subject to shareholder approval
Live · 2246.HK· HKSE
as of 2026-10-23
HK$1.13▼ 1.74% today

The rise & fall

10 moments · 2013–2026

The key moments, with employee sentiment along the way.

2013
Founded in Hong Kong as GoGoVan
Steven Lam, Nick Tang and Reeve Kwan launch an app for booking vans for goods deliveries.
Wikipedia
Sep 1 ’17
Merger with 58 Suyun; CEO claims a $1B-plus valuation$1B
GoGoVan combines with 58.com's freight unit. Steven Lam told TechCrunch the merged company was worth over $1B; terms were not disclosed.
TechCrunch
Jun 15 ’22
Hong Kong IPO priced at HK$21.50
GoGoX, renamed from GoGoVan in 2020, offers 31.2M shares to raise up to HK$671M.
The Standard
Jun 24 ’22
The peak: HK$10.3B at the debut close$1.31B
Shares open just above the offer price, then close 22% lower at HK$16.72. That still values GoGoX at about $1.31B.
stockanalysis.com
Jul 2022
Slips below $1B within weeks
The July 2022 month-end close implies a market value near $0.5B, about half the June level. It never recovers.
digrin
Jan 13 ’24
Alibaba trims its stake as the value sinks to about HK$308M$39.5M
EqualOcean tallies losses of more than RMB4.6B since 2018 and puts the market value at about 3% of the listing level.
EqualOcean
Apr 25 ’25
10-for-1 share consolidation takes effect
Shareholders approved the consolidation on April 23, 2025, and the board lot changed to 2,000 consolidated shares.
TipRanks
From the inside · Glassdoor reviews, 2022–25
After the listing, GoGoX's Glassdoor ratings slip from about 3.6 to about 3.2; employees praise friendly colleagues but cite below-market pay, few bonuses and unclear direction from management.
Oct 16 ’26
Agrees to sell its mainland business for RMB1
GGEx Holdings, which runs the mainland operations, goes to Crestpoint Investment. The deal needs shareholder approval; GoGoX will focus on Hong Kong and overseas.
Gelonghui
Oct 2026
Market value near HK$72.6M
About $9.3M at the October 21, 2026 close, roughly 99% below the debut close.
stockanalysis.com
Today
Still in the club — and still trading
Live · 2246.HK · HKSEas of 2026-10-23
HK$1.13▼ 1.74% today

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

GoGoVan, founded in Hong Kong in 2013 by Steven Lam, Nick Tang and Reeve Kwan, built an app for booking vans and drivers for goods deliveries. A 2017 merger with 58 Suyun, the freight unit of China's 58.com, created a company Lam said was worth over $1B.

Rebranded GoGoX, it listed in Hong Kong on June 24, 2022 at HK$21.50 a share. The stock fell 22% on day one, closing at a market value of about HK$10.3B ($1.31B). It slid below $1B within weeks as mainland losses mounted. GoGoX consolidated its shares 10-for-1 in April 2025. In October 2026 it agreed to sell its mainland business for RMB1 to focus on Hong Kong and overseas markets.

Source: TechCrunch (Sept 1, 2017): GoGoVan merged with 58.com's freight unit 58 Suyun; CEO Steven Lam said the combined company was valued at over $1B (terms not disclosed). The Standard (June 15, 2022): IPO of 31.2M shares at HK$21.50. SCMP (June 24, 2022): shares closed the debut at HK$16.72, down 22%; stockanalysis.com: HK$10.29B market cap at the June 24, 2022 close, about $1.31B. digrin split-adjusted month-end closes: about $1.02B at end-June 2022 and about $0.5B at end-July 2022. EqualOcean (Jan 13, 2024): about HK$308M after Alibaba stake sales. TipRanks (Apr 2025): shareholders approved consolidating every 10 shares into 1, effective April 25, 2025. Gelonghui (Oct 16, 2026): agreement to sell GGEx Holdings, the mainland business, to Crestpoint Investment for RMB1. stockanalysis.com (Oct 21, 2026): HK$72.62M, about $9.3M.

Founders

  • Steven Lam
    co-founder & CEO (led at the 2017 merger and the IPO)
    Still there — Co-founder & Cheap Everything Officer (CEO)LinkedIn ↗
  • Nick Tang
    co-founder
    LinkedIn ↗
  • Reeve Kwan
    co-founder
    LinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-10-22. See our methodology.

Disclosed investors (19)

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

* Lead in a funding round · Crunchbase ↗ · 2026-10-22 · Methodology · Leaderboard

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