// STARTUP COMPARISON
Badi vs Percentil
Badi failed in 2022 due to Bad Timing. Percentil failed in 2019 due to Unit Economics. Different causes, different sectors, different eras — but the same simulation outcome.
| METRIC | 🔥 Badi | 🔥 Percentil |
|---|---|---|
| Sector | Proptech | Ecommerce |
| Country | Spain | Spain |
| Founded | 2015 | 2012 |
| Died | 2022 | 2019 |
| Raised | $30M | €5M |
| Peak | $30M raised | €5M raised |
| Primary Cause | Bad Timing | Unit Economics |
// WHY EACH FAILED
🔥 Badi
Bad Timing
Badi built a Tinder-style matching app for room rentals in urban markets (Barcelona, Madrid, London, NYC). The model depended entirely on urban density — young professionals needing affordable shared housing near work. COVID emptied city centers as remote work spread. Demand for urban room rentals collapsed in 2020-2021. By the time urban density recovered, cheaper competitors (Idealista, Fotocasa, SpareRoom) had consolidated the market. Badi shut down its platform in 2022.
// LESSON
Marketplaces that depend on urban density have zero pandemic resilience. Badi needed people in cities and needed them to be price-constrained. Remote work broke both assumptions simultaneously.
Marketplaces that depend on urban density have zero pandemic resilience. Badi needed people in cities and needed them to be price-constrained. Remote work broke both assumptions simultaneously.
🔥 Percentil
Unit Economics
Percentil built a curated secondhand children's clothing marketplace in Spain, raising €5M and achieving strong early traction. The core unit economics problem: each transaction required photographing, categorizing, storing, and shipping individual low-value items (average basket €20-30). The logistics cost per item was too close to the item value to achieve positive margins at any realistic scale. The company shut down in 2019 after failing to raise Series B.
// LESSON
Secondhand marketplaces with sub-€40 average baskets face a structural logistics trap. The unit economics only work if the seller handles logistics (C2C), not the platform (managed). Percentil chose managed — and paid for it.
Secondhand marketplaces with sub-€40 average baskets face a structural logistics trap. The unit economics only work if the seller handles logistics (C2C), not the platform (managed). Percentil chose managed — and paid for it.
// EXPLORE FURTHER