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VTEX

E-commerce SaaSBrazil
New to Unitard
📉 Public < $1B
Peak $3.55 BillionRecorded estimate
~-81%
from peak
  1. 🦄
    Became a unicorn
    2020
  2. 📈
    Peak valuation
    $3.55 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation estimate
    ~$674M
Current status
Public (NYSE: VTEX)

The rise & fall

6 moments · 2000–2025

The key moments, with employee sentiment along the way.

2000
Founded in Rio de Janeiro
Mariano Gomide de Faria and Geraldo Thomaz start building the e-commerce plumbing behind Latin America's biggest brands and retailers.
Wikipedia
2020
Joins the unicorn club
SoftBank and Tiger Global back the region's enterprise answer to Shopify.
PitchBook
Jul 2021
The peak: a $3.55B NYSE debut$3.55B
Lists in New York at the top of the pandemic e-commerce boom.
Macrotrends
2022
Multiples compress
Software valuations deflate worldwide and growth slows; the stock begins an ~81% slide toward a ~$660M market cap.
Macrotrends
2022
Slips out of the club
One year after ringing the NYSE bell.
Macrotrends
From the inside · Glassdoor reviews, 2022–25
Glassdoor reviews through the slide described repeated layoffs several employees called sudden and thinly explained, leadership and strategy that seemed to change every few quarters, and a product built for Brazil that some said struggled to adapt as VTEX pushed into Europe.

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

VTEX is a Brazilian enterprise e-commerce software platform — a Latin American rival to Shopify and Salesforce Commerce — that lets big brands and retailers run online stores and marketplaces. Backed by SoftBank and Tiger Global, it reached unicorn status and went public on the NYSE in July 2021 near a $3.55B valuation. As software multiples compressed and growth slowed, the stock fell roughly 81%, leaving VTEX worth around $660M.

Source: Macrotrends / stockanalysis / PitchBook ($3.55B market cap at July 2021 IPO; ~$660M market cap by 2025-26, -81%)

Founders

  • Geraldo Thomaz
    Co-founder & Co-CEO (with Mariano Gomide de Faria)
    Still there — Founder and co-CEOLinkedIn ↗
  • Mariano Gomide de Faria
    co-founder & co-CEO
    Still there — Founder and co-CEOLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

Disclosed investors (13)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard

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