The first 30 days of Fab.com have been an extraordinary ride that has vastly exceeded even our greatest expectations.
We are thrilled at the way people have embraced our website and our core belief that everyone can benefit from making design more approachable and affordable.
Our membership has swelled to more than 300,000 people, up more than 60% from our June 9 launch, as the word is getting around about Fab.com delivering a great daily dose of design inspiration and sales.
We chalk up our initial traction to 3 factors:
- Our laser-like focus on our one thing: design. That’s all we do. Fab.com is design.
- Daily wow products. It is such a rush for us to be able to work with so many incredible designers across a wide range of categories, to help introduce their design objects to a mass market of consumers via Fab.com. Every day we’re introducing unique products on Fab.com not found on other sites.
- A hunger amongst consumers for good design that is practical, affordable, and fun. It certainly helps that design is social too. People love sharing design inspirations and finds!
What you see today on Fab.com is just the very beginning. We have a big vision to make Fab.com the world’s most valued resource for design. We’re excited about our first 30 days, but even more excited about what the future holds for Fab.com. We’ll be making rapid improvements to our technology and enhancing the overall experience for our members, while introducing more design categories, delivery models, and working with even more fantastic designers.
Below, in my continued attempt to be transparent about our business, I present some of The Numbers Behind Fab.com’s First 30 Days.
Since our launch on June 9, 2011:
- We’ve achieved more than $1.3 million of revenue in our first 30 days.
- Our company is profitable in our first month, with 45 team members. (yay!)
- More than 10,000 of our 300,000 members have made at least 1 purchase (3.3%), many of them more than 1.
- Half of the 300,000 members have come from viral invites — typically from email, Facebook, or Twitter shares.
- More than 25,000 products have been purchased.
- Since July 1 we’ve had more than 1000 purchases per day.
- Our site has had 1.4M total visits, so nearly $1 value per visit.
- Our members have made more than 100 purchases of $1000 or more
- And more than 350 purchases of $500 or more.
- Our members purchased more than 1500 each of: Out of Print T-Shirts and Melissa & Doug Toys.
- And more than 1000: subscriptions to Dwell Magazine and KidRobot toys.
- And more than 500: Bedol Water-Powered Clocks, TIVI Wood & Metal Jewelry, Declaration T-shirts, Design Glut Conversation PIeces, Ogon Metal Wallets, Black & Blum Cutting Edge Kitchen Items, and Knork Modern Flatware.
- 50% of the 200 3-day sales we’ve run on Fab.com sold more than 100 units per sale.
- And, our conversion rate of website visitors to purchasers keeps getting better and better, even as we layer on more members and more traffic.
And, we’re just getting started.
I share the data above so that interested parties can get a feel for the business were trying to create here at Fab.com. I know it’s rather unusual for private companies to share the numbers like this; I’m hopeful that sharing such data will help people understand us and get to know us better.
Ultimately, the numbers above just reflect demand for connecting designers with consumers who are interested in their wares. Hopefully our platform will continue to achieve that. And then some. We’re truly humbled by the response and opportunity.
-jason & the Fab.com team.
UPDATE: Comments and Discussion Here on Hacker News.
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