Pivot Gone Right: Fab.com Gets Lotsa Money

Fab.com unshavedFrom investors, that is. $40 million to be specific. Fab.com is a pivot story that begs retelling. Turns out they started off as a gay social netowrk. Happy times didn’t last long, however, because the founder (one Jason Goldberg) thought that sellign stuff was better business.

Turns out he’s right. Good for Fab.com then that investors share the same confidence. A hefty funding round led by Andreesen Horowitz has boosted Fab.com’s fortune to a considerable degree. The site’s present incarnation is a design space that sells stuff. That’s putting it real simple, because a while back Goldberg and his team did the math, which led them down the pivot path. So a year hence, fab.com is in a pretty sweet spot. So these days Fab.com prefers growing a user base who are real keen on their 72 hour flash sales.

They also did some awareness work recently. In November members of the Fab.com’s staff didn’t shave for some time, with awesome facial hair results. Their blog is worth checking out, by the way. Lots of interesting content and weird posts.

Via: NYConvergence