Billy Chasen's $2 Million Pivot From QR Codes To Turntable.fm

After raising millions in venture capital to launch a QR code technology called Sticky Bits, Chasen pirouetted--some would say rebooted--to a whole new concept, and thus was born the social music service Turntable.fm.

Everybody deserves a second chance, right? And that is the theme of the 2nd installment in our pivot series.

Billy Chasen and his cofounder Seth Goldstein had an intriguing idea: To create an app that could meld the physical world with the virtual realm so that users could leave digital stickers in the form of QR codes on physical objects. These would then link to photos, video articles, and blog posts on the web. After raising $2 million in venture capital they launched Sticky Bits, an idea that big brands adored but users never warmed to. Undeterred, they pirouetted--some would say rebooted--to a whole new concept, and thus was born Turntable.fm: a social music service that lets you hang out with friends in chat rooms and act as DJs. After an initial rush, Turntable.fm has maintained a committed core group of users, although no one can predict how the company's finale will play out. In fact, some say that turntable.fm might be too much fun: Now that's a problem many startups wish they had.

[Image: Aliaksei Lasevich via ShutterStock]

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