Good morning, All,
In our industry, pivoting is not only perceived as a positive: it’s often seen as a necessity, if the plan is to innovate and grow. Boxee started out as a software company and pivoted into a set-top box developer (Boxee Box) that would allow anyone to stream media from their television or computer, and which would play practically any format. It was non-techie friendly – very important : you could watch a friend’s ripped DVD’s via a USB drive, or watch the streaming services, like Netflix, Spotify, et al. Then they pivoted again into Boxee TV / Cloud DVR storage service, and basically followed in the footsteps of all of the major cable providers. In other words, they stopped innovating and started copying off their neighbor’s papers. Never a good idea: they lost a lot of their audience – and their mojo. Consequently, they couldn’t raise their next round, and since they had put themselves squarely into competition with a number of companies for whom they might have been a potential acquisition, well, those doors were pretty much closed to them, too. Someone did acquire Boxee. At the time of this writing, buyer unknown; details undisclosed. Moral of the story: If you’re going to pivot, innovate: develop something that a potential buyer might want, not what they already have. Pivot if you must, but be careful not to paint yourself into a boxee. Onward and forward.