The last minute deal market in US was growing and gaining ground, and Hotel Urbano was also growing significantly in Brazil. The idea was for the company to explore tha last minute deal space in the country where there was no competition.
The problem is that the last minute deal dynamic in Brazil was very different than that of the US and the traction wasn’t great enough for the company to raise more money. The company tried to pivot to package deals, that seemed very promising, but the space were already dominated by large players and they were not able to raise money to compete.
The team was solid, HBS and ex-McKinsey.