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      • November 2021 (Revised April 2022)
      • Case

      EbonyLife Media (A)

      By: Andy Wu, Feng Zhu, Pippa Tubman Armerding and Wale Lawal
      Founded by Mosunmola “Mo” Abudu in 2012 with a mission to bring high-quality African stories to the world, EbonyLife was the company behind many of Nigeria’s biggest films and TV shows. The company began as a television channel on the Africa-wide direct broadcast... View Details
      Keywords: Entrepreneurship; Mission and Purpose; Growth and Development Strategy; Digital Platforms; Consumer Behavior; Media and Broadcasting Industry; Nigeria; Africa
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      Wu, Andy, Feng Zhu, Pippa Tubman Armerding, and Wale Lawal. "EbonyLife Media (A)." Harvard Business School Case 722-372, November 2021. (Revised April 2022.)
      • October 2021 (Revised January 2022)
      • Case

      Chia Network: Reimagining Programmable Money

      By: William A. Sahlman and George Gonzalez
      Chia Network developed a novel blockchain platform that was more eco-friendly, decentralized, and scalable than Bitcoin, Ethereum, and other blockchains. Now, company leadership must decide how to scale the startup and prioritize various partnerships, use cases, and... View Details
      Keywords: Blockchain; Entrepreneurship; Business Startups; Growth and Development Strategy; Technology Industry; Technology Industry; United States
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      Sahlman, William A., and George Gonzalez. "Chia Network: Reimagining Programmable Money." Harvard Business School Case 822-039, October 2021. (Revised January 2022.)
      • October 2021 (Revised September 2022)
      • Case

      SmartOne: Building an AI Data Business

      By: Karim R. Lakhani, Pippa Armerding, Gamze Yucaoglu and Fares Khrais
      The case opens in August 2021, as Habib and Shahysta Hassim, husband and wife co-founders of the data labeling company SmartOne, contemplate the strategy of the high growth company. Between 2016 and 2021, SmartOne had kept doubling its size every two years and now,... View Details
      Keywords: Artificial Intelligence; Data Labeling; Entrepreneurship; Strategy; Operations; Business Model; Growth Management; Growth and Development Strategy; AI and Machine Learning; Africa; Madagascar; Europe; France; United States
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      Lakhani, Karim R., Pippa Armerding, Gamze Yucaoglu, and Fares Khrais. "SmartOne: Building an AI Data Business." Harvard Business School Case 622-059, October 2021. (Revised September 2022.)
      • September 2021 (Revised December 2023)
      • Case

      On the Bubble: Startup Bootstrapping

      By: Jeffrey J. Bussgang, Tom Quinn and Annelena Lobb
      Bubble was a software company in the low-code/no-code market, making tools that allowed users without traditional programming backgrounds or technical skills to build software. The case covers cofounder Joshua Haas’s engineering background, as he experienced a high... View Details
      Keywords: Business Startups; Business Growth and Maturation; Business Model; Business Plan; Disruption; Transformation; Trends; Customer Focus and Relationships; Customer Relationship Management; Cost vs Benefits; Decisions; Entrepreneurship; Venture Capital; Equity; Executive Compensation; Recruitment; Selection and Staffing; Disruptive Innovation; Technological Innovation; Job Interviews; Growth and Development Strategy; Ownership Stake; Opportunities; Applications and Software; Technology Adoption; Technology Industry; Technology Industry; New York (city, NY); California; France
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      Bussgang, Jeffrey J., Tom Quinn, and Annelena Lobb. "On the Bubble: Startup Bootstrapping." Harvard Business School Case 822-033, September 2021. (Revised December 2023.)
      • August 2021
      • Case

      Andreessen Horowitz’s Cultural Leadership Fund (A)

      By: Anita Elberse, Briana Richardson and Cydni Williams
      In May 2020, Chris Lyons, a partner at leading venture capital firm Andreessen Horowitz receives the news that his company has reached a verbal agreement with one of Silicon Valley’s hottest social-media startups to lead its ‘Series A’ funding round, in a deal that... View Details
      Keywords: Entertainment; Talent Management; General Management; Inclusion; Talent and Talent Management; Diversity; Venture Capital; Entrepreneurship; Networks; Nonprofit Organizations
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      Elberse, Anita, Briana Richardson, and Cydni Williams. "Andreessen Horowitz’s Cultural Leadership Fund (A)." Harvard Business School Case 522-020, August 2021.
      • July 2021
      • Case

      A Close Shave at Squire

      By: Jeffrey J. Bussgang, Zoë B. Cullen, William R. Kerr, Benjamin N. Roth and Michael Norris
      In 2020, just after closing a $34 million Series B financing round, Dave Salvant and Songe LaRon consider how to adjust their business, Squire Technologies, to the new realities posed by the COVID-19 pandemic. Their barbershop technology, including tools to run a shop... View Details
      Keywords: Business Startups; Entrepreneurship; Venture Capital; Private Equity; Mobile and Wireless Technology; Applications and Software; Growth and Development Strategy; Health Pandemics; Technology Industry; Technology Industry; New York (city, NY); San Francisco
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      Bussgang, Jeffrey J., Zoë B. Cullen, William R. Kerr, Benjamin N. Roth, and Michael Norris. "A Close Shave at Squire." Harvard Business School Case 821-073, July 2021.
      • July 2021 (Revised January 2024)
      • Case

      Fynd

      By: Ranjay Gulati, Kairavi Dey and Rachna Tahilyani
      Fynd is a fast-growing venture that in 7 years since its founding has become India's largest omnichannel retail company with real-time access to over 9,000 stores' offline inventory. It started as a B2B business supporting retailers who didn’t have an online business,... View Details
      Keywords: Entrepreneurship; Business Startups; Business Model; Acquisition; Decision Making; Cost vs Benefits; Growth and Development Strategy; Technology Industry; Technology Industry; Technology Industry; India; Mumbai
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      Gulati, Ranjay, Kairavi Dey, and Rachna Tahilyani. "Fynd." Harvard Business School Case 822-006, July 2021. (Revised January 2024.)
      • July–August 2021
      • Article

      Lowering the Bar? External Conditions, Opportunity Costs, and High-Tech Startup Outcomes

      By: Annamaria Conti and Maria P. Roche
      We assess the heterogeneous impact of economic downturns on individuals’ decisions to bring high-technology ideas to the market in the form of new ventures. We thereby examine how worsening labor market conditions influence individuals’ opportunity costs of starting... View Details
      Keywords: Necessity Entrepreneurship; Economic Conditions; Recessions; High-tech Startups; Opportunity Costs; Entrepreneurship; Economic Slowdown and Stagnation; Business Startups; Information Technology; Performance; Labor
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      Conti, Annamaria, and Maria P. Roche. "Lowering the Bar? External Conditions, Opportunity Costs, and High-Tech Startup Outcomes." Organization Science 32, no. 4 (July–August 2021): 965–986.
      • June 2021
      • Case

      Akira Fukabori and Kevin Kajitani at avatarin (A)

      By: Linda A. Hill and Emily Tedards
      In 2016, Akira Fukabori and Kevin Kajitani, aeronautical engineers at All Nippon Airways Co., Ltd., began to wonder why, in a world of accelerating globalization and digital connectivity, those who lived in far-remote villages or impoverished urban areas could not... View Details
      Keywords: Agility; Ecosystem; Innovation Ecosystems; Crowdsourcing; Open Innovation; Partnership; Government; Collaboration; Co-creation; Purpose; Impact; Social Impact; Movement; Organizational Behavior; Organizational Ambidexterity; Ambidexterity; Culture; Culture Change; Global Teams; Experimentation; Space; Airline Industry; Start-up; Platform Business; Platform Strategy; Platform; Digital; Robotics; Robots; Mobility; Strategy; COVID-19; Intrapreneurship; Public-private Partnership; XPRIZE; Space Industry; Avatar; Telepresence; Innovation Lab; Innovation and Invention; Technological Innovation; Partners and Partnerships; Collaborative Innovation and Invention; Alignment; Leadership; Leading Change; Diversity; Organizational Culture; Change Management; Entrepreneurship; Digital Platforms; Transportation Industry; Aerospace Industry; Japan
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      Hill, Linda A., and Emily Tedards. "Akira Fukabori and Kevin Kajitani at avatarin (A)." Harvard Business School Case 421-089, June 2021.
      • June 2021
      • Case

      Akira Fukabori and Kevin Kajitani at avatarin (A) (Abridged)

      By: Linda A. Hill and Emily Tedards
      In 2016, Akira Fukabori and Kevin Kajitani, aeronautical engineers at All Nippon Airways Co., Ltd., began to wonder why, in a world of accelerating globalization and digital connectivity, those who lived in far-remote villages or impoverished urban areas could not... View Details
      Keywords: Agility; Ecosystem; Innovation Ecosystems; Innovation; Crowdsourcing; XPRIZE; Open Innovation; Partnership; Government; Collaboration; Co-creation; Purpose; Impact; Social Impact; Movement; Organizational Behavior; Organizational Ambidexterity; Ambidexterity; Culture; Culture Change; Global Teams; Experimentation; Space; Space Industry; Airline Industry; Start-up; Platform Business; Platform Strategy; Platform; Digital; Robotics; Robots; Avatar; Telepresence; Innovation Lab; Mobility; COVID-19; Intrapreneurship; Public-private Partnership; Innovation and Invention; Technological Innovation; Partners and Partnerships; Collaborative Innovation and Invention; Alignment; Leadership; Leading Change; Diversity; Organizational Culture; Change Management; Strategy; Entrepreneurship; Digital Platforms; Transportation Industry; Aerospace Industry; Japan
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      Hill, Linda A., and Emily Tedards. "Akira Fukabori and Kevin Kajitani at avatarin (A) (Abridged)." Harvard Business School Case 421-085, June 2021.
      • May 2021
      • Case

      Endeavor Kenya: Building an Entrepreneurial Ecosystem

      By: Lynda M. Applegate, Shikhar Ghosh and Christian Godwin
      In 2016, Fiona Mungai became Endeavor Kenya’s first managing director. In this role, she helped the organization build its inaugural board and select its first Endeavor entrepreneur, a fintech company called Cellulant. Throughout this process, Mungai observed the power... View Details
      Keywords: Business Ventures; Entrepreneurship; Human Resources; Leadership; Leading Change; Management; Growth and Development Strategy; Negotiation; Economy; Markets; Emerging Markets; Network Effects; Relationships; Strategy; Technology Industry; Technology Industry; Technology Industry; Technology Industry; Technology Industry; Africa; Kenya
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      Applegate, Lynda M., Shikhar Ghosh, and Christian Godwin. "Endeavor Kenya: Building an Entrepreneurial Ecosystem." Harvard Business School Case 821-038, May 2021.
      • March 2021
      • Case

      CashDrop (A)

      By: Rembrand Koning, Paul A. Gompers and Sarah Gulick
      In July 2020, Ruben Flores-Martinez had launched a startup, CashDrop, which provided easy and cheap sales options for small businesses. The COVID-19 pandemic helped CashDrop quickly grow. Flores-Martinez, who had previously sought and been denied venture capital... View Details
      Keywords: Payment Systems; Small Business; Entrepreneurship; Business Startups; Venture Capital; Online Technology; Technology Industry; Technology Industry; Chicago; Illinois
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      Koning, Rembrand, Paul A. Gompers, and Sarah Gulick. "CashDrop (A)." Harvard Business School Case 221-051, March 2021.
      • March 2021
      • Supplement

      CashDrop (B1)

      By: Rembrand Koning, Paul A. Gompers and Sarah Gulick
      After the events in CashDrop A, Flores-Martinez received two concrete offers from VC funds for his startup business, CashDrop. This case describes the tensions between the two funds: a traditional VC fund who would offer Flores-Martinez a prestigious platform, and a... View Details
      Keywords: Small Business; Entrepreneurship; Business Startups; Venture Capital; Internet and the Web; Decision Choices and Conditions; Technology Industry; Technology Industry; Chicago; Illinois
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      Koning, Rembrand, Paul A. Gompers, and Sarah Gulick. "CashDrop (B1)." Harvard Business School Supplement 221-052, March 2021.
      • March 2021
      • Supplement

      CashDrop (B2)

      By: Rembrand Koning, Paul A. Gompers and Sarah Gulick
      After the events in CashDrop A, Jarrid Tingle and Henri Pierre-Jacques, the founders of Harlem Capital partners, worried that Ruben Flores-Martinez, CashDrop’s founder, would take another offer while he waited for them to officially make an offer. HCP traditionally... View Details
      Keywords: Small Business; Entrepreneurship; Business Startups; Venture Capital; Online Technology; Technology Industry; Technology Industry; New York (city, NY)
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      Koning, Rembrand, Paul A. Gompers, and Sarah Gulick. "CashDrop (B2)." Harvard Business School Supplement 221-053, March 2021.
      • March 2021 (Revised August 2024)
      • Case

      Hotwire.com: Navigating Through Turbulence

      By: Jeffrey F. Rayport, Manny de Zarraga and Eric Levine
      On September 10, 2001, after speaking at an industry conference at New York’s World Trade Center, Hotwire co-founder Spencer Rascoff boarded a flight from Newark to San Francisco. After returning home, Rascoff awoke the next morning to a phone call informing him that... View Details
      Keywords: September 11; Corporate Entrepreneurship; Business Growth and Maturation; Disruption; Decisions; Job Cuts and Outsourcing; Growth Management; Digital Platforms; Problems and Challenges; Risk and Uncertainty; Expansion; Internet and the Web; Leading Change; Leadership Style; Air Transportation Industry; Tourism Industry; San Francisco
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      Rayport, Jeffrey F., Manny de Zarraga, and Eric Levine. "Hotwire.com: Navigating Through Turbulence." Harvard Business School Case 821-084, March 2021. (Revised August 2024.)
      • March 2021
      • Teaching Plan

      The Black New Venture Competition

      By: Karen G. Mills, Jeffrey J. Bussgang, Martin A. Sinozich and Gabriella Elanbeck
      Black entrepreneurs encounter many unique obstacles when raising capital to start and grow a business, some stemming from deep systemic discrimination. During their second year at Harvard Business School (HBS), MBA students Kimberly Foster and Tyler Simpson decided to... View Details
      Keywords: Analytics; Startup; Start-up; Startup Financing; Financing; Startups; Start-ups; Business And Community; Business And Society; Business Growth; Discrimination; Women; Women-owned Businesses; African Americans; African-american Entrepreneurs; African-american Investors; African-American Protagonist; African-American Women; Early Stage Funding; Early Stage; Innovation & Entrepreneurship; Innovation Competitions; Entrepreneurial Financing; Business Plan; Business Startups; Diversity; Gender; Race; Entrepreneurship; Venture Capital; Small Business; Leadership; Information Technology; Competition
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      Mills, Karen G., Jeffrey J. Bussgang, Martin A. Sinozich, and Gabriella Elanbeck. "The Black New Venture Competition." Harvard Business School Teaching Plan 821-094, March 2021.
      • March 2021
      • Case

      VideaHealth: Building the AI Factory

      By: Karim R. Lakhani and Amy Klopfenstein
      Florian Hillen, co-founder and CEO of VideaHealth, a startup that used artificial intelligence (AI) to detect dental conditions on x-rays, spent the early years of his company laying the groundwork for an AI factory. A process for quickly building and iterating on new... View Details
      Keywords: Artificial Intelligence; Innovation and Invention; Disruptive Innovation; Technological Innovation; Information Technology; Applications and Software; Technology Adoption; Digital Platforms; Entrepreneurship; AI and Machine Learning; Technology Industry; Technology Industry; North and Central America; United States; Massachusetts; Cambridge
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      Lakhani, Karim R., and Amy Klopfenstein. "VideaHealth: Building the AI Factory." Harvard Business School Case 621-021, March 2021.
      • March 2021 (Revised December 2021)
      • Case

      Cedar Environmental: Innovation vs. Corruption in Lebanon?

      By: Nien-hê Hsieh and Youssef Abdel Aal
      The case follows Ziad Abi Chaker, founder and CEO of Cedar Environmental, as he weighs options for how to grow the company in the face of growing economic and political instability in Lebanon in 2019.

      Founded after the Lebanese civil war, Cedar... View Details
      Keywords: Waste Management; Recycling; Corruption; Leadership & Corporate Accountability; Business And Government; Social Entrepreneurship; Environmental Sustainability; Green Technology; Pollution; Entrepreneurship; Business and Government Relations; Crime and Corruption; Technological Innovation; Growth and Development Strategy; Business Strategy; Expansion; Corporate Accountability; Green Technology Industry; Middle East; Lebanon
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      Hsieh, Nien-hê, and Youssef Abdel Aal. "Cedar Environmental: Innovation vs. Corruption in Lebanon?" Harvard Business School Case 321-114, March 2021. (Revised December 2021.)
      • March 2021
      • Case

      Founders Factory

      By: Jeffrey F. Rayport and James Barnett
      In January 2020, Founders Factory (FF) Executive Chairman Brent Hoberman and CEO Henry Lane Fox were considering FF’s expansion strategy. FF operated as a venture capital (VC) fund built around an accelerator and incubator, and organized around sectors within... View Details
      Keywords: Entrepreneurship; Markets; Planning; Expansion; Global Range; Business Model; Talent and Talent Management; Experience and Expertise; Corporate Entrepreneurship; Global Strategy; Innovation Strategy; Growth and Development Strategy; Management Teams; Organizational Change and Adaptation; Partners and Partnerships; Internet and the Web; Mobile and Wireless Technology; Technology Industry; Africa; South Africa; Johannesburg; Europe; France; Paris; United Kingdom; England; London; United States; New York (city, NY)
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      Rayport, Jeffrey F., and James Barnett. "Founders Factory." Harvard Business School Case 821-009, March 2021.
      • February 2021 (Revised June 2023)
      • Case

      Henry Ford: Changing the World

      By: Robert Simons and Max Saffer
      This case traces the rise of Henry Ford from a small farm in Michigan to the controlling shareholder of the Ford Motor Company. The case describes how Ford, as young man, acquired engineering skills and the risks he took as he built and marketed one of the first... View Details
      Keywords: Technology; Entrepreneurship; Personal Characteristics; Business Startups; Management; Success; Values and Beliefs; Technological Innovation; Personal Development and Career; Auto Industry; United States; Michigan
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      Simons, Robert, and Max Saffer. "Henry Ford: Changing the World." Harvard Business School Case 121-063, February 2021. (Revised June 2023.)
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