Ryan Holmes just sent out a note about a business model pivot. (Of course we had to stop and ponder if they were playing an April Fool’s joke. They are!)
(Some enterprising 21-year-old we knew about 24 years ago issued a student newspaper claiming that the SGA was going to have free beer at their Easter Egg Hunt. The SGA president got so angry with our owner, she never talked with him again. So, if you’re planning an April Fool’s joke, be careful. Backlashes can and do occur.)
On the serious side, pivots are essential parts of doing business. Essentially, it means you thought you were going to be a business that did X, but you figured out if you did Y instead, you’d make a ton of money and grow, grow, grow. Not all pivots work. But it’s good to see HootSuite is trying to become less dependent on someone else’s platform and branching out into a new area of their own. Congrats, Ryan. You had us for a few seconds. If we see AUM’s Margaret Killian any time soon, we’ll send her to your door.
Now to let you all know: This is all just a joke.
Here’s the email message:
Board, Investors and Friends,
Things have been going really well at HootSuite for the last while, but after watching the massive growth of Zynga and the likes, I’ve been thinking a lot about if we are in the right business? Building on top of third party platforms can be challenging, and the team and I want a change. I know that this will come as a surprise, but as of today we’re pivoting business models with the launch of Happy Owls (screenshot and link to private beta below). This game is really addictive and I think we stand a great shot of making an even bigger splash in a really fun market.
As always I appreciate your support, and please keep confidential until our public announcement on Monday.
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