The pivot of TACODA occurred more than 3 years after launching the business and a lot of work in the product. We weren't pressured into the pivot. But, as Fred Wilson related, we were working super-hard at the business and only had a modest technology license business to show for it. Our board - Fred, Brad Burnham, Rich Levandov (Masthead/Avalon), Habib Kairouz (Rho) and Curt Viebranz (COO) - was composed of folks who were long-time VC's and very strategic and senior, so they were comfortable with the idea that we should try to go big. We knew that our clients couldn't exploit our platform as well as we could. So, when Brad pushed us to really evaluate whether we couldn't build a bigger (and easier) business doing what our clients weren't doing well - using our platform to deliver and sell better targeted online ads - it didn't take long for all of us to realize that we should take the chance and pivot.
As for post-AOL ... a lot was going on at that time that makes it hard to analyze without the advantage of hindsight. While most of the team didn't end up staying with AOL very long, the technology still powers most of Aol's targeted ad business, I believe, and the team has spread out and populate dozens of adtech start=-ups today.