// STARTUP COMPARISON
Cornershop Chile (original) vs Trovit
Cornershop Chile (original) failed in 2019 due to Acquisition Gone Wrong. Trovit failed in 2014 due to Acquisition Gone Wrong. Both failed for the same reason — Acquisition Gone Wrong.
| METRIC | 🔥 Cornershop Chile (original) | 🔥 Trovit |
|---|---|---|
| Sector | Marketplace | Marketplace |
| Country | Chile | Spain |
| Founded | 2015 | 2006 |
| Died | 2019 | 2014 |
| Raised | $31.4M | Bootstrapped then acquired |
| Peak | Dominant in Chile | €50M revenue |
| Primary Cause | Acquisition Gone Wrong | Acquisition Gone Wrong |
// WHY EACH FAILED
🔥 Cornershop Chile (original)
Acquisition Gone Wrong
Cornershop, founded in Santiago, dominated grocery delivery in Chile before expanding to Mexico. Walmart attempted to acquire it in 2018 for $225M but the deal was blocked by Mexican antitrust regulators. Uber then acquired it in 2019 for $225M. The independent brand survived briefly before being absorbed into Uber Eats by 2021. Chile's dominant grocery delivery pioneer ceased to exist as an independent company.
// LESSON
When your acquisition is blocked by regulators, your negotiating position deteriorates. The next acquirer knows you're stuck. Regulatory approval risk is acquisition risk — price it into your exit strategy.
When your acquisition is blocked by regulators, your negotiating position deteriorates. The next acquirer knows you're stuck. Regulatory approval risk is acquisition risk — price it into your exit strategy.
🔥 Trovit
Acquisition Gone Wrong
Trovit was a classifieds search aggregator founded in Barcelona with strong positions in Spanish, Italian, and Brazilian markets. It was acquired by Japan's Next Co. in 2014 for approximately €80M. Under Japanese corporate ownership, product focus deteriorated, key engineers left, and the platform was gradually wound down and replaced by Next's own products.
// LESSON
Acquisition price does not guarantee product continuity. A culturally misaligned buyer destroys more value than they paid — especially when the value was a product culture that cannot be transplanted.
Acquisition price does not guarantee product continuity. A culturally misaligned buyer destroys more value than they paid — especially when the value was a product culture that cannot be transplanted.
// EXPLORE FURTHER