Evaluating only Rappi (2022 crisis)’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. That’s exactly how it died.
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Documented cause
Rappi, Colombia's first unicorn and Latin America's most funded startup, raised $2B and reached a $5.25B valuation. The 2022 global tech downturn exposed chronic unit economics problems — delivery subsidies, low basket sizes, and high customer acquisition costs made the path to profitability unclear. Rappi laid off approximately 6% of its workforce in 2022 and cut unprofitable verticals.
Lesson
“Super-app strategies require the core vertical to be profitable before adding adjacencies. Each new vertical is a bet funded by the core. If the core bleeds, every adjacency accelerates the bleeding.”
FAQ
What happened to Rappi in 2022?
Rappi, Latin America's most funded startup with $2B raised, laid off approximately 6% of its workforce in 2022 and cut unprofitable verticals after the tech downturn exposed chronic unit economics problems in its delivery and super-app model.