In an era of rapid technological evolution, some established companies are finding that a single founding moment isn't enough. A new trend is emerging where major startups like Airtable, Handshake, and Opendoor are undertaking a process they call "refounding." This strategic move, often spurred by the launch of new AI products or significant shifts in business models, signifies a deeper reset than a typical pivot, as recently reported by The New York Times.
What Does 'Refounding' Entail?
For instance, Airtable announced in June that instead of merely integrating more AI capabilities into its existing platform, the company viewed this as a "refounding moment." Howie Liu, Airtable's co-founder and CEO, clarified to The New York Times that this isn't a pivot, which implies a change of direction after a misstep. Liu explained that while 'relaunch' or 'transformation' were considered, 'the language of founding' was ultimately chosen because "the stakes feel the same" as starting anew.
Reigniting Startup Culture
Similarly, Katherine Kelly, Chief Marketing Officer at Handshake, described her company's effort to reintroduce "startup culture" into an established business. This often entails a renewed focus on intense work, with Kelly noting that Handshake has informed employees of a five-day-a-week in-office requirement. The goal is to operate "with a pace and number of hours that is meaningful and will help us hit goals," reflecting a return to the demanding ethos often associated with early-stage ventures.
