On March 29, the news broke that Philly-founded, on-demand delivery company Gopuff was slated to lay off 3% of its workforce. But the number may be much higher.
The change was reported last week to affect mostly “top-earning managers outside Gopuff’s core delivery operations,” as a source told The Information. The move came as Gopuff is close to closing a $1 billion convertible note, led by Guggenheim Partners, which a Gopuff spokesperson confirmed in an email to Technical.ly this Thursday.
While Gopuff leadership — with a $15 billion valuation last July — had previously been in discussions to take the company public, a source close to the matter told Bloomberg last week that the Callowhill-headquartered company no longer has immediate plans for an IPO. The source cited less secure global economic conditions than predicted last year, and a trend of legacy tech companies slowing down on raising sizable investments.
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