Research in organizational theory and entrepreneurship has well established the importance of acquiring legitimacy for new ventures (e.g., Delmar & Shane, 2004; Zimmerman & Zeitz, 2002). However, only recently, scholars have recognized that ventures face ‘multiple legitimacy thresholds’ with audiences differing in their expectations and evaluation criteria over the life cycle phases (Fisher, Kotha, & Lahiri, 2016). Whereas a new venture is advised to ‘portray different identity claims” to the different audiences in order to attain legitimation (Fisher et al., 2016; Fisher et al., 2017; Garud et al., 2014), we argue that in a single context - i.e. the transparent and immediate world of online communication - other identity-related development strategies may apply. Specifically, we investigate how new ventures navigate the complexity of being recognized by multiple audiences in the online world of social media and answer the question when and why changes in new venture’s identity claims affect their success.