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.
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."