The 'Refounding' Trend: Why Startups Are Embracing a Fresh Start
Major startups like Airtable, Handshake, and Opendoor are strategically 'refounding' themselves, driven by new business models and AI innovations. This isn't a pivot, but a fresh start to inject new energy and redefine objectives.
Is it time to "refound" your startup? In some instances, establishing a startup once may not suffice. This trend is evident with companies like Airtable, Handshake, and Opendoor, all of which have recently announced a "refounding" initiative.
According to The New York Times, these strategic declarations typically coincide with the introduction of new business models or the launch of innovative AI products. For example, Airtable stated in June that instead of merely integrating additional AI capabilities into its current platform, the company chose to embrace this as a pivotal "refounding moment."
Howie Liu, Airtable's co-founder and CEO, clarified to the NYT that this is not a pivot, as it doesn't involve altering direction due to prior missteps. Liu mentioned that while the company considered terms like relaunch or transformation, they ultimately opted for "the language of founding because the stakes feel the same."
Similarly, Katherine Kelly, Handshake's chief marketing officer, explained that the company aims to reintroduce startup culture into an established enterprise. This renewed focus often entails a more demanding work environment; Kelly noted that Handshake has informed employees of a mandatory five-day in-office work week, emphasizing "operating with a pace and number of hours that is meaningful and will help us hit goals."