Jason Goldberg 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 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 Raises An Additional $150 Million

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Fab.com has raised another $150 million in a new round of funding as announced by CEO Jason Goldberg.  Investors in this round includes Tencent, Atomico, Andreessen Horowitz, Itochu Technology Ventures, and other existing investors.  Goldberg added that this is “just the first part of a larger Series D round.”

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Fab.com Is Opening Their Own Retail Store In Hamburg

Fab.com, a flash sales website that has designer products, is opening up their first brick-and-mortar retail store.  The store will be based in Hamburg, Germany rather than New York where Fab.com is based.

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Times of India Invests In Fab.com

Fab.com is a design e-commerce website that has raised around $156 million in total funding.  The company has also just raised seven figures from The Times of India’s digital arm.  The Times of India is a daily newspaper company based in India and they boast the largest circulation of English-language newspapers around the world.  Fab.com acquired an Indian company called True Sparrow last month.  Fab.com CEO Jason Goldberg was known for having an existing relationship with executives at True Sparrow.

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