Evaluating only SupplierNet Brasil’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: No market fit.
Key Events Timeline
FOUNDING
Felipe Andrade and Juliana Reis founded SupplierNet Brasil in São Paulo as a supplier discovery marketplace.
FUNDING
R$28M Series A raised from Monashees; Brazil's 2021 truck strike boosted investor thesis around supply chain resilience.
ACQUISITION ATTEMPT
Merger talks with Mercado de Fábricas collapsed over valuation disagreement; Brazil inflation began eroding client budgets.
SHUTDOWN
Operations ceased after mass layoff of 55 of 72 employees in July 2022; R$28M fully consumed.
Full Analysis
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Documented cause
SupplierNet Brasil, co-founded in São Paulo in 2018 by Felipe Andrade and Juliana Reis, raised R$28M to build a supplier discovery and resilience scoring marketplace for Brazilian industrial buyers. The 2021 Brazil truck drivers' strike validation boosted pitch credibility but product-market fit remained weak. After a failed merger with competitor Mercado de Fábricas in early 2022, and Brazil's post-pandemic inflation spike driving procurement budget cuts, the company laid off 55 of 72 employees in July 2022 and ceased operations in October 2022.
Lesson
“A compelling crisis narrative doesn't substitute for unit economics; validate budget availability before scaling headcount.”