// STARTUP COMPARISON
QuintoAndar (2022 crisis) vs Badi
QuintoAndar (2022 crisis) failed in 2022 due to Unit Economics. Badi failed in 2022 due to Bad Timing. Different causes, different sectors, different eras — but the same simulation outcome.
| METRIC | 🔥 QuintoAndar (2022 crisis) | 🔥 Badi |
|---|---|---|
| Sector | Proptech | Proptech |
| Country | Brazil | Spain |
| Founded | 2013 | 2015 |
| Died | 2022 | 2022 |
| Raised | $780M | $30M |
| Peak | $5.1B valuation | $30M raised |
| Primary Cause | Unit Economics | Bad Timing |
// WHY EACH FAILED
Real estate marketplaces are macro-correlated even when they don't hold inventory. Rate rises slow transaction velocity, reduce listings, and compress take rates simultaneously. The valuation that justified your headcount was built on a specific rate environment.
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.
// IN THE SIMULATION
QuintoAndar triggers RENTAL_MARKET_RATE_SENSITIVITY — the simulation models rental marketplaces as indirectly rate-sensitive: rising mortgage rates reduce rental supply (owners hold rather than rent) and reduce transaction velocity as the overall property market slows.
Badi triggers URBAN_DENSITY_DEPENDENCY_FAILURE — the simulation models room rental marketplaces as having zero resilience to urban exodus events. The product use case requires both people in cities AND a supply/demand imbalance.
// EXPLORE FURTHER