Evaluating only RepartoYa’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Competition.
Key Events Timeline
FOUNDING
Gabriela Torres and José Ureña found RepartoYa to lead food delivery in San José.
FUNDING
Raises $1.8M from FUEL Ventures and Carao Ventures; reaches 600 restaurant partners by 2019.
MARKET EXIT
Uber Eats and PedidosYa enter Costa Rica with subsidized orders; market share begins eroding.
ACQUISITION ATTEMPT
Failed $3M Series B; assets sold to PedidosYa for under $200K — a 89% discount to last valuation.
Full Analysis
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Documented cause
RepartoYa, a San José food delivery startup founded by Gabriela Torres and José Ureña in 2016, raised $1.8M from FUEL Ventures and Carao Ventures. The company held 35% of the Costa Rican market by 2019 with 600 restaurant partners. Uber Eats entered Costa Rica in 2019 followed by PedidosYa in 2020, both subsidizing orders. RepartoYa attempted to raise a $3M Series B in 2021 but investor interest evaporated. The founders sold remaining assets to PedidosYa for an undisclosed sum below $200K in March 2022.
Lesson
“Market leadership means nothing without capital to defend against funded global entrants — raise pre-emptively.”