// startup autopsy
Snapcart
Philippines retail data startup backed by SoftBank Ventures Korea that raised $10M to crowdsource FMCG shelf data before the business model proved unsustainable.
marketfitSilent Shutdown
Quiet closure with no public announcement · Fatal mistake: No Product Market Fit
| Founded | 2015 |
|---|---|
| Closed | 2022 |
| Country | Philippines |
| Sector | Ecommerce |
// the model, blind
Evaluating only Snapcart’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. Documented cause: No market fit.
Key Events Timeline
FOUNDING
Snapcart founded as a crowdsourced retail data collection platform
FUNDING
Snapcart raises $10M from SoftBank Ventures Korea, Vickers VC and other investors
DOWN ROUND
Data quality issues emerge; CPG brands report inconsistent data and significant coverage gaps affecting contract renewals
PIVOT
Snapcart attempts strategic pivot to address data quality concerns and compete with traditional retail auditors offering cheaper alternatives
SHUTDOWN
Silent Shutdown: Snapcart ceases operations due to poor contract renewal rates and inability to compete on data quality and pricing