// startup autopsy
Vendly
Selling software in a market not yet ready to buy it.
marketfitSlow Death
Years-long decline before final shutdown · Fatal mistake: Underestimated the difficulty of selling SaaS to Latin American SMBs with limited digital transformation budgets and long procurement cycles.
Key Events Timeline
FOUNDING
Vendly founded in Chile to provide SaaS solutions to local businesses.
FUNDING
Raised $200K in seed funding, providing limited runway for a SaaS business in a tough market.
PRODUCT LAUNCH
Launched core SaaS product but encountered slow adoption among Chilean SMBs with limited tech budgets.
PIVOT
Attempted to pivot to a different customer segment to improve conversion rates before funds were fully depleted.
SHUTDOWN
Vendly closed operations after failing to achieve sustainable revenue and exhausting its seed funding.