Dec
wow. thanks. smile. Fab Raises $40M.
wow.
I usually have a lot to say, but today it’s mostly just wow.
And, thanks.
This is truly a great day for design lovers and for anyone who believes that it is possible for a company to go from zero to hero really quickly.
It’s humbling for us as a team.
1 year ago we were running a small niche social network.
9 months ago we scrapped all that, took down the old website, and started anew, focused on one thing: delighting people each day with design inspirations.
Today, we’re thrilled to announce that just 9 months later, and nearly 6 months after we re-launched Fab.com on June 9, 2011 as a design-lovers paradise, Fab.com has raised $40 million from Andreessen Horowitz, Menlo Ventures, First Round Capital, Baroda Ventures, SoftTech VC, and Ashton Kutcher - Guy Oseary and A-Grade Investments.
This financing round came together because of our members, our team, and our investors.
Our Members. Since launching 6 months ago:
- More than 1.2 million people have signed up for Fab.com’s daily dose of design sales and inspiration, growing by 300,000 new members per month the past 2 months — mostly from social sharing.
- 200,000+ people are now using our mobile apps
- They’ve ordered 500,000+ products from us.
- In November alone, we processed nearly 100,000 orders.
And, our team. Wow, our team. We are building a different kind of company here at Fab.com. Thank you, thank you Fab team. You’ve made this happen.
And, our investors. Wow, our investors. You believed in us when we turned our business on its head. You stuck with us. You helped us grow. Thanks. And welcome, Jeff Jordan to the team! nice blog post btw Jeff. try to keep up with me, I write a lot ;-)
We attribute our successful launch in 2011 to three unique aspects of our company:
- A laser-like focus on design. From the design aesthetic of Fab.com’s website and mobile applications, to the products that are featured for sale, to the end-to-end customer experience, Fab.com is all about good design.
- Social commerce. More than 50% of Fab.com’s 1.2 million members have come from social sharing.
- Innovation. We build all of our own technology and we endeavor to be the world’s pioneer in integrating social and commerce features to enhance the product discovery process.
We’re truly humbled by the way so many people have embraced the Fab.com concept so quickly. We believe that everyone, everywhere can benefit from affordable design and that great design exists in every product category, at every price point. We are constantly pushing the envelope at the intersection of social and commerce and content.
What you see from us today is just the start. We will be the industry’s leading innovator in merging social, commerce, and content to the benefit of consumers and our design partners.
All jargon aside, this is so much fun. We’re just lucky to be able to do it.
Smile, you’re designed to.
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i fucking love fab. but the fuckers don’t ship to canada yet. fail.
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