Refound Your Startup: When to Pivot and Start Anew

The Trend of Startup "Refoundings"

For some entrepreneurs, establishing a single startup proves insufficient to fulfill their vision.

Recent announcements from companies such as Airtable, Handshake, and Opendoor demonstrate a growing trend of what they term “refounding.” These declarations, as detailed by The New York Times, are frequently linked to the introduction of novel business strategies or the unveiling of new AI-driven products.

Airtable's Approach to Innovation

Airtable, in June, articulated that their advancements weren't merely additions to their current platform. They viewed the integration of AI as a pivotal moment, effectively a refounding of the company.

Howie Liu, co-founder and CEO of Airtable, explained to the NYT that this isn't a traditional pivot. It doesn’t represent a course correction following an error in judgment.

Liu stated that the company deliberated using terms like “relaunch” or “transformation,” but ultimately selected “founding” due to the perceived magnitude of the undertaking and the comparable level of risk involved.

Handshake's Return to Core Principles

Katherine Kelly, Handshake’s chief marketing officer, conveyed that the company aims to reintroduce the dynamism of a startup environment within its established structure.

This revitalization also entails increased commitment from employees. Handshake has mandated a five-day-a-week return to the office, emphasizing a work ethic and time investment necessary to achieve ambitious objectives.

Kelly indicated that this shift is intended to foster a work rate and dedication crucial for attaining company goals.