Pivot3 has conducted mass layoffs, the culmination of grand hopes, a quarter of a billion dollars in VC funding, and multiple failures to gain mass-market success.
In this note, we include feedback from Pivot3 management and examine their steps and missteps over the last decade.
Pivot3 said that the layoffs were part of structural changes related to coronavirus:
This market disruption has caused many of our customers to delay their decisions and to pause projects while they evaluate their own situations. There is currently very little indication of how long this situation will last. We are committed to continuing support for our customers and partners, so this morning Pivot3 undertook some structural changes to ensure that we weather this situation, however long it lasts, and continue to support our customers. We believe that Pivot3 will emerge stronger for these changes, and fully intend to continue providing solutions of exceptional value for our customers through this market crisis and beyond