Abstract
How does international exposure shape entrepreneurial pivots? Through a field study of 84 startups across 27 countries, we develop a model that uncovers how international exposure not only spurs ventures to update their understandings of the international market but also generates pivots in the addressed market. Structural differences between markets and entrepreneurs' cognitive openness makes new information about the international market more salient. This new information opens ventures' eyes to novel opportunities. Ventures then realize that the same opportunities always existed in the addressed market, but their initial taken-for-granted market assumptions blinded them. This prompts pivots in startups' core customer profile or offering. Together, the study shows that new market exposure is an important mechanism shaping entrepreneurial pivoting, with implications for entrepreneurial experimentation and strategy.