Fab.com Posts

Fab.com scales back European operations

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Fab.com has reduced what they will be selling through Fab Europe. Now Fab Europe will sell only custom-made and high-quality furniture. Fab Europe sold a variety of products just like they did on their U.S. website. Fab.com Jason Goldberg wrote a blog post about the changes and how the company tried to grow too quickly in Europe.Fab.com raised $150 million with a $1 billion valuation throughout 2013. The company fired around 400 people in 2013 though.

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Fab.com Is Going To Lay Off Another 50 Employees

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According to sources with AllThingsD, Fab.com will be laying off another round of employees in the U.S.  Fab.com may also make cuts to their European staff.  The new layoffs are expected to affect 50 employees across all levels in New York.  The affected employees will be notified on Friday if they are going to be laid off.  These employees will continue to work at the company for only three more months.  Fab.com currently has between 150 and 200 employees.
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Fab.com Holds Job Fair For Laid Off Employees

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Fab.com is a design e-commerce company that recently laid off 85 people at their office in New York.  Fab.com laid off 85 people to reduce operating costs by 30% next year. 
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Fab.com Lays Off Almost 20% Of Staff

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Fab.com, one of the largest designer e-commerce websites, has announced that they are going to lay off 101 employees, which is nearly 20% of their staff. Fab.com laid off 100 employees back in July. Fab.com is currently a private company that has a value of around $1 billion based on venture capital term sheets. The company is not yet profitable though. Fab.com is preparing to shift to an inventory-based model soon. Up until now, Fab.com used to depend on “flash sales.”
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Fab.com Expands Into Australia

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Fab.com has expanded their service into the land down under.  Fab.com CEO and founder Jason Goldberg made the announcement on Fab.com’s Betashop blog.  Goldberg said that around 1% of Fab.com’s traffic comes from Australia even though they are not active in that country.
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Fab.com Raises $5 Million From Itochu

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Fab.com has raised $5 million in additional funding from Itochu Corporation.  Fab.com has a valuation of over $1 billion and they raised $150 million this past June.  This $5 million is part of a round that could hit $250 million in funding, according to VentureBeat.  Itochu made the investment through Itochu Technology Ventures, the company’s venture capital arm.
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Fab.com Raises $10 Million

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Fab.com CEO Jason Goldberg wrote a blog post last night that said that the company has raised $10 million in funding from Asian venture capital company SingTel Innov8.  SingTel Innov8 is the venture capital arm of the Asian telecommunications company SingTel.  Fab.com currently sells products in North America and Europe, but they are expanding into Asia.  This $10 million round is an addition to the company’s $150 million Series D round.  Fab.com has raised a total of $320 million.
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Fab.com Lays Off Over 100 Employees in Europe

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Fab.com has laid off over 100 employees at their headquarters in Berlin.  The layoffs is because the company is shifting away from a flash sales business model.  The company is starting to hold their own inventory and will be operating as a global storefront.  Fab.com recently raised $150 million in Series D funding.  The layoffs affected 15% of their 696 employees, according to AllThingsD.

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