13
Jan

Fab Acquires FashionStake

We’re on a mission here at Fab to be the world’s most valuable design resource.

In June 2011 we opened our doors and took big strides towards achieving that goal. 7 months later 1.65 million people have now joined Fab. 350,000 new design enthusiasts have signed up in the last 30 days alone. They’ve purchased 750,000 products from us so far. And, it’s just the start. 

We have some core beliefs here at Fab:

  1. Fab.com is design
  2. Everyone, everywhere can benefit from good design
  3. Exceptional customer experience is our most valuable design
  4. Behind every great design is an even greater story
  5. Our team is designed for success
  6. We’re on a mission to be the world’s most valuable design resource
  7. Smile (you’re designed to)

Very quickly, we’ve established Fab as the world’s leading platform for design. We’ve taken a highly fragmented market with thousands of suppliers and married that with a consumer model that values product more than brand, price more than luxury, exciting more than generic, color more than bland, and where witty and humor and stories to be told bring products to life.

Along the way we’ve learned that our members love independent fashion. Scattered here and there in our sales the past few months, alongside lots of home decor, jewelry, art, gifts, and gadgets, we’ve also sold a lot of fashion. From shirts to skirts to hats to gloves to street wear to shoes to belts and more, we’ve sold them all on Fab and our members have roundly responded with “more please!”

So, today, we’re doubling down on fashion. We’re going to do the exact same thing we’ve done with design products to fashion. Make no mistake, we’re keenly aware that there are plenty of sites that sell high-end fashion for a discount. That’s not Fab. We’re doing fashion the Fab way; designed to make you smile.

To get there we are announcing our first acquisition. Fab has acquired NYC-based FashionStake, the leading online marketplace for independent fashion. 

Hundreds of independent designers have sold on FashionStake. We’ll now give them and many more like them a platform to sell on Fab.

FashionStake Cofounders Vivian Weng and Daniel Gulati will be joining our team and focusing on expanding our fashion presence.  

We’re thrilled to have Vivian and Daniel join the Fab team. At FashionStake, they built a vibrant community of indie fashion lovers from all around the world. 

Welcome former FashionStake members, we’re so happy to have you on Fab! 

Stay tuned for much more Fab Fashion in the coming weeks.

Smile, you’re designed to.

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About

Betashop is the website of Jason Goldberg,
Founder & Chief Executive Officer at Fab.

Jason founded Fab in 2011 with Bradford Shellhammer (Chief Design Officer) and Nishith Shah (Chief Technology Officer).

Fab is everyday design.

Fab’s mission is to help people better their lives with design. Millions of people around the world use Fab to discover everyday design products at great prices, to connect with the world’s most exciting designers, and to share their favorite design inspirations. Smile, you're designed to.

Some have called Fab "the fastest growing E-commerce company on the planet." We like to say we're just doing our best to serve up great design that makes people smile.

Fab now serves more than 11 million members across 26 countries. Fab grew sales by more than 500% in 2012, one-third of which comes from users of the Fab mobile apps for iPad, iPhone, and Android devices. In February 2013 Fab was named the #5 most innovative company in the World by Fast Company. Fab won the award for Best E-Commerce Company of The Year at The Crunchies in both 2012 and 2011. It's all very humbling and inspiring. The truth is we celebrate our challenges more than our successes at Fab and we're really still just getting started.

Fab is the fourth company Jason founded. Jason previously founded fabulis, socialmedian, and Jobster. In 2009, following the sale of socialmedian to XING AG, Jason was Chief Product Officer at XING, based in Hamburg, Germany. Before starting Jobster in 2004, Jason led product and business initiatives at both T-Mobile USA and AOL Time Warner. In a prior life, Jason spent 6 years working 100 hours a week for Bill Clinton in the White House.

Jason is also an investor in and Board Member at RJ Metrics. He is also an investor in BlackJet and Twitter. Notable prior investments: TweetDeck.

Jason is a product guy. He loves to blog, loves transparency, and loves trying to make people smile. Jason shares everything about Fab on his blog, betashop, at http://betashop.com.

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