Two shutdowns. Two completely different emotional realities. One founder who lived both.
In this episode of Round Two, host Jaclyn Siu sits down with Helena Fogarty — co-founder of Backable and host of Inside the Round — to talk about the moments that force founders to confront the truth: sometimes the math or the market doesn’t give you a choice.
Helena shares the inside story of:
- The last-minute reversal from her lead angel investor
- Calling her co-founder to say “We’re done”
- Taking over as CEO of a CPG brand already in freefall
- How a rebrand destroyed a $2M grocery business
- What she’s learned about raising, shutting down, and starting again
This conversation pulls back the curtain on the emotional, operational, and financial realities of startup shutdowns — and what it takes to rebuild with clarity.
About Round Two
Round Two, hosted by Jaclyn Siu, rewrites the narrative around startup setbacks, resilience, and reinvention. Subscribe wherever you get your podcasts and join the conversation.
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✨ Episode Highlights
00:00 Why Round Two Exists
01:11 Meet Helena Fogarty
01:53 The Apparel Startup & Angel Investor Reversal
14:06 The Phone Call: “Hey… We’re Done.”
20:27 Founder Grief, Identity & Collapse
21:07 The Unexpected CEO Offer
24:12 Walking Into a Failing CPG Brand
25:30 How a Rebrand Destroyed a $2M Business
37:41 How to Shut Down a Company Elegantly
46:28 Why Failure Makes Better Founders
