Evaluating only EdgarBuy’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
MILESTONE
CRISIS
SHUTDOWN
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Documented cause
EdgarBuy built a local services and home improvement marketplace in Portugal, connecting tradespeople (electricians, plumbers, painters) with homeowners in Porto and Lisbon. The platform gained 3,000 service providers and had strong NPS in Porto. However, the Portuguese services market was fragmented and low-digitisation — most service providers had no online presence and were acquired through word-of-mouth. Facebook Groups became the dominant channel for local service discovery in Portugal without fees. The company could not achieve marketplace liquidity sufficient for national scale.
Lesson
“Local services marketplace monetisation in Southern Europe requires guaranteed service quality (warranty, background check) to justify fees over free Facebook Groups.”