Too Good To Go

Last updated

Too Good To Go
Company type Private
Industry Mobile app
Founded2015 in Denmark
FoundersThomas Bjørn Momsen, Stian M. H. Olesen, Klaus Bagge Pedersen
Headquarters
Copenhagen, Denmark
Areas served
Europe and North America
Key people
Adam Papalia Sigbrand, Brian Christensen, Sophie Wiik, Lucie Basch, Jamie Crummie, Mette Lykke (CEO)
Number of employees
1258 (2023)
Website toogoodtogo.org/en

Too Good To Go is a service with a mobile application that connects customers to restaurants and stores that have surplus unsold food. [1] The service covers major European cities, [2] [3] and in October 2020 started operations in North America. [4] As part of the initiatives taken on the International Day of Awareness of Food Loss and Waste to reduce food loss and waste, the app is suggested alongside OLIO among many others. [5] [6]

Contents

In 2022 Too Good To Go was the fastest-growing sustainable food app startup by number of downloads. [7] As of August 2022, it claimed 164,000 businesses, serving 62 million users, have saved 155 million bags of food. [8] As of March 2023, it claimed to have saved over 200 million meals. [9]

History

The company was created in 2015 in Denmark by Thomas Bjørn Momsen, Stian Olesen, Klaus Bagge Pedersen, Adam Sigbrand and Brian Christensen. [10] [11] In 2017, Mette Lykke (co-founder of Endomondo) joined as CEO. [11] [12] [13]

In February 2019, the company raised an additional 6 million euros in a new round of investment. [14] In August 2019, Too Good To Go was re-launched in Austria. [2] In September 2019, Too Good To Go acquired the Spanish startup weSAVEeat and merged it into its own brand. [2] In November 2019, the offer of Too Good To Go extended to plants through a partnership with the French retail plants company Jardiland. [15] In December 2019, Too Good To Go partnered with the French grocery retail stores Intermarché, [16] and donated 60K euros to the French charity Restaurants du Cœur. [17] In October 2021, Bonnie Wright teamed up with Too Good To Go to drive the initiative to reduce food waste. [18]

Corporate affairs

The key trends for Too Good To Go ApS are (as of the financial year ending December 31):

Revenue (DKK m)Net profit (DKK m)Total assets (DKK m)References
2017−20.526.8 [19]
201853.6−29.747.6 [20]
2019170−48.5118 [21]
2020259−144239 [21]
2021449−347279 [21]
2022 [lower-alpha 1] 496−175275 [21]
202354415.7516 [21]

International expansion

Countries in which Too Good To Go operates as of February 2024 Countries in which Too Good To Go operates.svg
Countries in which Too Good To Go operates as of February 2024

As of February 2024 the company serves Austria, Belgium, Canada, Czechia, Denmark, the Faroe Islands, France, Germany, Ireland, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, the United Kingdom and the United States. [22] [23]

Purpose

The purpose of Too Good To Go is to reduce food waste worldwide. It developed a mobile application that connects restaurants and stores that have unsold, surplus food, [2] [13] with customers who can then buy whatever food the outlet considers surplus to requirements—without being able to choose—at a much lower price than normal. The food on the app is priced at one-third its original price. [24] [25] The company claims this reduces the waste of food that would otherwise be discarded; [26] food waste is a global problem that affects the environment. In three years active, the app reached more than 9.5 million users. As of 2022, more than 57.7 million users and 154,000 establishments have signed up, and 139 million meals have been collected.[ citation needed ]

In 2019, the company had 350 employees in Europe. [13] As of June 2023 the company was estimated to have 1,289 employees. [27] [28]

Use

Food outlets must notify the TGTG company about what they have available on each day, stating what sort of food they have (baked foods, meals, produce, vegan food), and the price for a 'surprise bag', whose contents they determine; the user cannot choose, but the original prices will be three or more times the TGTG price. Notification is made early based upon the quantity predicted to be left over, not at the end of a selling period.

Number of sold meals [lower-alpha 2] (m) [29]
2017201820192020202120222023
1.96.419.128.652.583.5121

Users must register to use the service. A mobile phone with an Internet connection running Android or iOS is needed. The user runs the TGTG app, which lists outlets available within a chosen distance and time range. The customer can then order and pay for a 'surprise bag'. The supplier can cancel an order at any time if the expected surplus is not available—the purchaser is notified by text message—and the purchaser can cancel with two hours' notice. The phone must be taken to the food supplier in a specified pickup time window, often 30 or 60 minutes long, and the transaction is finalised by swiping the app [30] —connected to the Internet—to confirm collection.

Notes

  1. ↑ During 2022 the invoicing model was changed from most European markets being invoiced from Too Good To Go ApS to being invoiced from the Too Good To Go entity in the respective markets.
  2. ↑ "saved meals", all countries

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References

  1. ↑ "7 best food waste apps for more sustainable eating habits". The Independent . 26 April 2021.
  2. 1 2 3 4 "Too Good To Go acquires a Spanish app to save 1.3B tonnes of food waste: Did you know these 5 things about the Danish tech startup". Silicon Canals. 6 September 2019. Retrieved 27 December 2019.
  3. ↑ "How can retailers tackle food waste?". Retail Gazette. 27 May 2021.
  4. ↑ Tanay Warerkar (28 October 2020). "Restaurant Food Waste App Too Good to Go Signs Thousands of Customers In First Month in NYC". Eater NY . Retrieved 21 August 2021.
  5. ↑ "12 Apps Preventing Food Waste and Protecting the Planet". Food Tank . 28 September 2021.
  6. ↑ "How technology can help avert food waste". ITU Hub (UN agency) (Press release). 28 September 2021.
  7. ↑ "Too Good to Go and Olio shine as Europeans flock to food waste apps". Retail Technology Innovation Hub. 29 March 2022.
  8. ↑ "Save Food - Help The Planet". toogoodtogo.com. Retrieved 18 August 2022.
  9. ↑ "Too Good To Go announces new global milestone: 200 million meals saved". toogoodtogo.com. Retrieved 16 August 2023.
  10. ↑ "Too Good To Go vil erobre verden" [Too Good To Go wants to conquer the world]. CXO Magasinet (in Danish). n.d. Retrieved 14 April 2020.
  11. 1 2 "Too Good To Go ansætter Endomondo-stifter som ny topchef" [Too Good To Go hires Endomondo founder as new chief executive]. Food Supply DK (in Danish). n.d. Retrieved 14 April 2020.
  12. ↑ Clasper, James (31 August 2017). "Meet startup queen Mette Lykke". Scandinavian Traveler. Archived from the original on 12 April 2021.
  13. 1 2 3 Flora Southey (4 September 2019). "Too Good To Go turns food waste into business: 'It really is a win-win-win concept'". Foodnavigator.com. Retrieved 27 December 2019.
  14. ↑ Mary Loritz (8 February 2019). "Copenhagen-based app Too Good To Go raises a further €6 million to eliminate food waste". Eu-startups.com. Retrieved 27 December 2019.
  15. ↑ Caussil, Jean-Noël (14 November 2019). "Jardiland adopte Too Good to Go" . LSA-conso.fr (in French).
  16. ↑ "Intermaché et Too Good To Go unis contre le gaspillage alimentaire". Ac-franchise.com (in French). 18 December 2019. Retrieved 27 December 2019.
  17. ↑ Jean-Jacques Héry; Ugo Pascolo (3 December 2019). "L'appli Too Good To Go verse 65.000 euros aux Restos du Cœur". Europe1.fr (in French). Retrieved 27 December 2019.
  18. ↑ Everett, Helena (16 October 2021). "Bonnie Wright Teams Up with Food Waste App Too Good to Go". MuggleNet. Retrieved 19 October 2021.
  19. ↑ "Too Good To Go Annual Report 2021" (PDF). Retrieved 25 July 2024.
  20. ↑ "Too Good To Go Annual Report 2022" (PDF). 28 June 2023.
  21. 1 2 3 4 5 "Too Good To Go Annual Report 2023" (PDF). 21 June 2024.
  22. 1 2 "Too Good To Go". toogoodtogo.com. Retrieved 7 September 2023.
  23. 1 2 Too Good To Go app
  24. ↑ Amanda, Silberling (23 September 2021). "Nosh uses AI to help people and businesses cut down on their food waste". TechCrunch .
  25. ↑ Silberling, Amanda; Mizukoshi, Akihito (25 September 2021). "AIで食料品の消費と廃棄の習慣を学習し、食品廃棄物の削減を支援する「Nosh」". TechCrunch Japan.
  26. ↑ "Too Good To Go: The app that helps Europeans fight food waste". 29 September 2022.
  27. ↑ "Too Good To Go Human Capital". Craft. 1 June 2023.
  28. ↑ "Too Good To go Revenue, Competitors and Alternatives" . Retrieved 17 March 2022.
  29. ↑ "Too Good To Go Impact Report 2023" (PDF). Retrieved 25 July 2024.
  30. ↑ "Too Good To Go App – How It Works". Jordon Cox. 11 March 2021.
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