- Founded: 2009
- Ceased Operations: 2015
What did Fab do?
Fab was an e-commerce website that sold home goods, furniture, and other lifestyle products. It was known for its unique business model, which involved offering limited-time deals on high-quality products. This model was successful in the early days of the company, as it created a sense of urgency and excitement among shoppers.
Fab grew rapidly in its early years, and eventually came to be valued at over $1 billion. Fab raised a total of $336.3 million in funding over 9 rounds.
Who started Fab?
Founders Bradford Shane Shellhammer, Deepa Shah, Jason Goldberg, Nishith Shah, Sunil Khedar
Why did they go out of business?
As the e-commerce market matured, customers began to demand more variety and lower prices. Fab’s focus on design-forward products was no longer enough to attract customers, and Fab’s sales began to decline. Fab was a victim of its own success. It grew too quickly and burned through too much cash. It also failed to adapt to changing customer preferences, and it was ultimately unable to compete with Amazon.
Fab faced financial difficulties in 2015 and was acquired by PCH International for an undisclosed sum. The company was relaunched as a new entity, but it never regained its former popularity. The original Fab.com website is now defunct, but the domain name is now owned by Epic Games and is used for a new digital asset marketplace.