The stench of burning gasoline hung in the air at the first-ever Pivot Party inside party promoter Todd P’s Old Firehouse on Lafeyette. It was 10 o’clock on a Tuesday night, and the engine room had been converted—or pivoted—into a event space. A lone couple danced on the floor to a Jackson 5 song. One half of the duo was Bartek Ringwelski, founder of SkillSlate, who wore a white T-shirt emblazoned with his company logo and was throwing this party.
SkillSlate, which raised $1.1 million in seed funding back in October 2010, had burned through more than half its capital before deciding its original idea—to be a user-generated review system, like Yelp, but for freelancers—wasn’t going to work. “It was a really tough discussion to have with our backers, but we just knew it was time to pivot,” said Mr. Ringwelski. Read More