Hi from Pune, India where Bradford and I are up since 4:30 a.m watching the U.s. election results. And, we have some exciting news to announce!
I’m thrilled to announce that Fab has acquired True Sparrow Systems of Pune, India. The Economic Times of India has details. This is the first time a U.S.-based e-commerce company has acquired an India-based startup technology company.
True Sparrow was founded by Nishith Shah and Deepa Shah (husband and wife) in 2007 to be a Pune startup company working on innovative technology products.
I first met Nishith and Deepa in 2007 when I looked them up after seeing they had founded one of the first highly viral Facebook Application, The Interactive Friends Graph. I was so impressed with them and their work that I begged them to work with me.
Nishith, Deepa, and I co-founded socialmedian together in January 2008. At the time, True Sparrow was 6 people and I traveled to Pune 13 times that year to work with the team. It was a true partnership. We were all shareholders in socialmedian and we shipped code every other day together. socialmedian grew very big very fast and we then sold it to XING of Hamburg, Germany together that same year. During that time Nishith & Deepa built the True Sparrow team up to 15 people, all working on socialmedian.
In 2009, following the acquisition, Nishith and Deepa and the True Sparrow team all worked for XING, where I was Chief Product Officer.
In January 2010 Nishith and Deepa and the True Sparrow team, along with Bradford Shellhammer, and I founded fabulis.
fabulis was re-launched as Fab in 2011.
True Sparrow and Fab have been operating as 1 team since our beginning. True Sparrow owns stock in Fab and Nishith and Deepa are Founders of Fab.
True Sparrow now has 85 employees, all of whom work on Fab.
What’s happening today is that Fab is formally acquiring True Sparrow so that the teams go from not just 1 team, but to also 1 company with one common vision.
The acquisition will enable Fab to grow our Pune-based technology team to 150 people next year.
The deal was a combination of cash and stock with performance incentives based on Fab’s future global financial results.
For me, it’s not just business, it’s personal. Nishith & Deepa are family to me. I’ve visited them and our team in Pune more than 40 times the past 5 years. They were special guests at my wedding. They, along with Sunil Khedar, our VP of Engineering who has been with us since the start, are the smartest hardest working people I have ever had the pleasure to work with. And, they’ve built a fantastic team that mirrors their passion, smarts, and work ethic. When people ask me why I work with an India-based technology team it’s because Nishith, Deepa, Sunil and team are the best of the best.
Welcome to Fab True Sparrow! We are one!
A year ago at this time Fab was 80 people in NYC and 30 in Pune. Today, Fab now has: 230 NYC employees, 180 Berlin employees, 85 Pune employees, and 150 team members at our warehouse in New Jersey. We have 9 million members worldwide and we’re selling 4 products per minute. We’re reinventing and re-imagining e-commerce, social commerce, and mobile commerce. We build all of our own technology.
And, we’re still just getting started.
Smile, you’re designed to.
Muskurao, tum bane ho muskurane ke liye.