Fab.com CEO talks to buyers

Fab.com CEO talks to buyers

Fab.com's CEO, Jason Goldberg, has confirmed he has initiated talks with several possible buyers. While his company was valued to be worth 1 billion dollars last year, it would be considerably less now.

Lower worth

Goldberg refused to name a specific amount for his company, but an analyst believes Fab.com's current worth is somewhere between 75 and 115 million euro, a lot lower than the previous 1 billion dollar (750 million euro) evaluation.

 

Fab.com once started as a site for flash deals, but changed its approach several times along the way. Goldberg launched a new website, Hem, recently, selling self-made furniture, while Fab.com had to let a third of its staff go merely a few months ago.

 

"We have had a lot of inbound interest in the valuable Fab brand and assets. We are currently evaluating such inquiries. We have no comment on the status of those discussions", Goldberg told Forbes. "As point of fact, we are not shopping Fab around and we have not hired any bankers or agents."

Questions or comments? Please feel free to contact the editors


Alibaba exceeds expectations

17/08/2017

Chinese Alibaba has trumped analysts’ turnover and profit expectations with its first quarter results. Its profit even doubled compared to the year before.

Aldi will home deliver in the United States

16/08/2017

German discounter Aldi is starting one-hour deliveries for online orders in the United States, using startup Instacart. Amazon’s reaction was swift: it will test lockers in which custumers can collect items two minutes after ordering them.

Yoox-Net-a-Porter thrives thanks to mobile surge

03/08/2017

Online retailer Yoox-Net-a-Porter has managed to beat analysts’ expectations in the past fiscal year, thanks to a surge in mobile sales. For the first time ever, these sales contributed more than half of the retailer’s total turnover.

Lidl constructs new distribution center in Venlo

01/08/2017

Lidl will open a new distribution center in Venlo, which will cater its web shop’s customer base. The distribution center is not a Lidl Netherlands project, but apparently an international project.

Amazon places own pick-up lockers at consumers' homes

31/07/2017

Amazon announced The Hub, a system of pick-up lockers that can be placed everywhere. They come in different sizes and can be placed both inside or outside of buildings.

Amazon's profit takes enormous hit

28/07/2017

American Amazon’s profit plummeted in the second quarter and is also lower than what analysts had predicted, despite a 25 % turnover increase.

Back to top