A5 (www.admin5.com) station network March 5th news, was a smash hit in the flash sales site Fab.com finally has also been acquired. Acquiring company is committed to helping start-ups design and development of hardware products PCH International. The two sides did not disclose the purchase price, but the U.S. technology blog PCH based on the latest round of financing to calculate the price of about $15 million.
Fab.com was founded in 2011, the amount of financing more than 300 million U.S. dollars, but in the end due to the growth of marketing expenditure is out of control, and the product catalog is too large, the initial product design and other reasons for the disappearance of beauty and bankruptcy. 2013, the number of employees reached 350 Fab, the company’s valuation of investors had reached nearly $1 billion.
Fab in the past has been brilliant. Data shows, Fab is the predecessor of a company called Fabulis gay social networking site, Yelp , Foursquare comment; sign, Groupon group purchase in a body, after the transformation into a flash shopping site. Fab : so far there has been a total of three times: from the gay social networking site, the transition to flash purchase site, to the full price of electricity providers, and now is the life of creative design, personalized recommendation platform.
The development course of
Fab, an important node in 2013 April, Fab publicly announced strategic transformation from flash sales site to a more traditional design for the characteristics of retailers, and then carried out massive layoffs. In this regard, the reason given by Fab is the company’s business from flash to traditional electricity supplier model, many employees are no longer suitable for the development of the company’s requirements, the new model is no longer highly dependent on human resources to select goods. web traffic has plunged in the past year; 75%.
followed by the management team turbulence. From the beginning of April 2013, more than a dozen Fab executives have left, ranging from to Esty COO excavation; Beth Ferreira, co-founder of responsible for the selection of goods; Bradford Shellhammer, CPO David Paltiel etc.. In addition, Fab , CEO and CTO are publicly stated that they will give up their salaries in 2014, and streamline the company’s product line, cost savings.
Fab.com co-founder and CEO High German Berg said in a statement, see Fab in PCH where to find a good home, from a personal point of view, I am very satisfied. The operation mode of PCH and its