David Marks, CEO and co-founder of Loomia, has written a piece over at the new GigaOm site – Foud+Read – that talks about how startups including Loomia often change direction to be successful. Loomia’s position and success today is definitely related to the changes it made a couple of years ago. David, Ken and Francis - the co-founders of Loomia – deserve a lot of credit for shifting the business to a better place.
Loomia’s not unique based even on my experience - almost every startup I have been at has been through something similar before becoming successful – for instance Loudeye changed its model from service provider to ASP. And it’s still happening today – look at how Andy Sack and the Judy’s Book crew have had to change their model from local reviews to a deal search site.