Leaving a Million Bucks on the Table: Why Flotype Pivoted in Y Combinator

When entrepreneurs talk about pivoting, it’s most often because they’ve failed to see a future for their idea. This wasn’t the case with the Y Combinator backed company, Flotype. Flotype’s original idea was to change the way we shop online. Their MVP was an iPad app that greatly improved the shopping experience. Early user feedback was fantastic, and they received an invest offer of one million dollars.

They were ready to go full steam a head with their shopping idea until Paul Graham talked them out of it. Don’t miss this 12 minute interview with Darshan Shankar (a co-founder of Flotype) where he explains why they took Paul Graham’s advice and decided to pivot.

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  • Joel furgla

    I love stories like this! Did you wrestle with turning down the million dollar investment, or was it an easy choice?

    • Anoneeem

      Seconded. I’d love to hear about this too Darshan.

    • I glossed over the part where we decided to go with Y Combinator instead of VC. The details are long, but some parts of the decision include: a.) we got into YC b.) flakey/weird VCs c.) we knew YC was a safer choice since we were considering the pivot d.) hard to pivot when you take VC money

      There are a lot of details, some I’d rather not publicly disclose. Shoot me an email and we can chat (darshan /at nowjs.com)

      • chart3

        Great video interview and even better comments such as “flakey/weird VCs”, lol.  Unfortunately, I know the type.  I’d like to email you as well for more details.

  • Wow, great video.

  • As always, Paul, interesting and substantive content!   

  • Darshan you said it really well. It’s all about finding something you’re passionate about. None of you guys are fashionistas and it’s impressive you were able to learn to move on to a new idea so quickly. I’ve met a lot of people at startup meetups who are too proud to let go of their idea or product. Learning to fail fast and holding your head up after you pivot takes much more courage than shying away from the elephant in the room. I’m proud that you were able to shamelessly forge ahead, it’s definitely a rare quality that few of my friends have. It’s great to be in good company. 😀

  • Samir

    The video gets stuck after a few seconds, tried twice. I m surfing from Ubuntu 10.04 – Chrome 11.0.696.68

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