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<\/div>Finding Focus<\/b><\/h2>\n
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When Untitled Startup Inc. started, the company had no specific product in mind. Instead, the company intended to create \u201csimple, useful stuff that solved big customer problems.\u201d With an interest in the social media \/ PR space, Untitled Startup Inc. began to develop a product focused on providing data to marketers with easy-to-use measurement and reporting tools. The product was a hit, and it became clear that Untitled Startup Inc. would continue to focus their efforts on \u201chelping marketers become data rockstars.<\/p>\n
After developing a product with a clear focus and customer validation, Untitled Startup Inc. changed its name to Simply Measured.<\/p>\n
Product Pivot<\/b><\/h2>\n
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![\"relayrides-logo\"](\"https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2016\/07\/27132335\/relayrides-logo-550x315.jpg\"){kind=logo}
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RelayRides intended to innovate the car rental industry with a peer-to-peer carsharing concept inspired by online marketplaces like Airbnb. From 2010 to 2014, the company launched its service nationwide and received over $50 million in funding. During this time, the original short-term, hourly rentals were discontinued in favor of longer duration rentals of 1 day or more due to growth potential. Ultimately, RelayRides found that the average rental period for their service was for more than 5 days.<\/p>\n
With a product no longer focused on short-term rentals, RelayRides changed its name to Turo<\/a> and raised another $47 million in funding in 2015.<\/p>\n There are more than 200,000 hospital visits a year related to food allergies or food sensitivity. 6SensorLabs launched to change by offering an affordable way to test food for allergens and educate others about unexpected allergens in restaurant menus. After receiving $4 million in seed funding, the company launched its first product in 2015, a handheld app-connected device designed to detect gluten levels in your food titled Nima. The product, which is still available for preorder, was such a success that the company recently earned an additional round of $9.2 million in funding before shipping any devices.<\/p>\n Considering the Nima product’s success and its synonymous relationship with the brand, 6SensorLabs decided to change its name to Nima with two new devices launching in 2017.<\/p>\n <\/p>\n <\/p>\n When ZenPayroll was part of Y Combinator\u2019s Winter 2012 batch, the company intended to improve the payroll experience for small businesses and employees. Over the next three years, ZenPayroll earned over $25 million in funding and launched its payroll system in all 50 states. In 2015, after being valued at over $560 million, ZenPayroll added health benefits and workers\u2019 compensation to its\u00a0product offering.<\/p>\n With a product offering no longer limited to payroll services, ZenPayroll changed its name to Gusto and is currently valued at $1 billion.<\/p>\n <\/p>\n <\/p>\n Virtual Reality has found mainstream appeal in the past year by releasing multiple VR headsets to the general public. Vrse was founded to utilize VR as a storytelling medium by developing the technology required to create, play, and distribute \u201cimmersive VR films.\u201d Though the name seemed clever at first, Vrse CEO Chris Milk began to notice some unexpected branding issues<\/a>:<\/p>\n People reading our name often don\u2019t know how to say it, and people who do know how to say it often don\u2019t know how to spell it when searching for it. Turns out these are not great features for a company name. More importantly though, tying our brand to \u201cvirtual reality\u201d, a phrase we may not even use in ten years, seems inadvisable. And at our heart, we\u2019re about more than just a specific technology or buzzword\u200a\u2014\u200awe\u2019re about creating and sharing human experience. Technology is just a tool to get us there.<\/p><\/blockquote>\n Faced with a name that was no longer working for the CEO or the brand direction, Vrse changed their name to Within<\/a> during their announcement of a $12.6 million round of funding in 2016.<\/p>\n The most important thing a startup can do is get started.<\/p>\n These 5 companies and many more have proven that the perfect name is not critical to a company’s initial success and that in some situations, you may not even know what kind of company you will have in a few years.<\/p>\n Focus on providing a quality service or product to your customers, and don’t be afraid to change your startup name if the timing feels right.<\/p>\n![\"entrepreneur](\"https:\/\/assets.crowdspring.com\/marketing\/landing-page\/naming-quiz-hero.png\")
<\/div>Product Success<\/b><\/h2>\n
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<\/p>\n<\/div>\nProduct Expansion<\/b><\/h2>\n
![\"ZenPayrollLogo\"](\"https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2016\/07\/27132335\/ZenPayrollLogo.png\")
<\/p>\n<\/div>\nRebranding<\/b><\/h2>\n
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<\/p>\n<\/div>\nA case for change<\/strong><\/h2>\n
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