Things Aren't So Fab At Fab.com

摘要

Two-year-old New York startup Fab.com is now selling goods in 27 countries, has a staff of 650 people, and has been spending millions on marketing. A round of funding announced in late June valued the online retailer of hipster home goods at more than $1 billion. Yet Fab is suffering growing pains, according to interviews with current and former em- ployees who supplied internal e-mails regarding personnel and financial matters to Bloomberg News. The startup has lost or fired at least 11 executives in the past year and missed its publicly stated targets for revenue by almost 20 percent. "It is impossible to grow a company as fast as we've grown Fab without having mistakes along the way," says founder and Chief Executive Officer Jason Goldberg, who reviewed the messages and confirmed they were authentic. "Hopefully we're able to adjust and make changes effectively," he says.