4. THE PIVOT
We don’t want to spend one more dollar, let alone $1M doing something we don’t have
confidence in.
FEB 24
We’ve been iterating on product. Now we are pivoting to a business model.
We’ve been doing too much. We will stop doing a lot of things, to focus on one thing.
The Pivot
Convinced that iterating away in the gay space isn’t going to get us to a $100M
opportunity. Meanwhile, we we can see a $100M opportunity in front of us elsewhere.
3 criteria: (1) Passionate about it, (2) Can be the best in the world at it (3) Can be
$100M+ business,
The Pivot: From gay places+deals to doing one thing we can be the best at: DESIGN.
5.
6. Big Vision:
The Global
Brand
Synonymous
with Design
Amazon.com
for Design
8. MAR 19
Begin Viral
Mechanics
Holy Crap!
50,000 people
join in first 30
days
9. April 15
Pre-Sales Social
Features Launch:
The Fab.com
Inspiration Wall.
Social Mood Board.
Give users
Something to do
(and share!) while
waiting for our sales
to launch.
10. Pre-Launch Viral + Social = Rapid Growing Userbase
June 8
165,000
Pre-Launch
Subscribers
500,000+ people
invited by friends
Gained 165,438 opt-in subscribers in 80 days leading up to
june 1, 2011)
50% viral from invite links
30% Inspiration Wall users
Average subscriber has invited 3 friends, 1 of whom joined
330,000 additional emails of friends yet to convert
11. June 9
Launch Day!
Featuring Milton
Glaser
Ashton Kutcher
Invests
15 NY employees
14. Photo: Daniel Goodman / Business Insider
September
16 new sales events
per day, 2000+ new
SKU’s per day
55 Team Members Worldide
15. Oct. 11
Fab goes
mobile:
iPhone, iPad, &
Android
16. Nov. 14
1 Million
Members in just
5 months since
launch.
17. We want people to LOVE Fab.
Dec. 2
Building A
Service lasts forever.
Different Kind
of Company
...we spend most of our time celebrating our challenges...we focus
more on why we suck than on why we’re doing well.
22. 9 Months of Fab
1 Million Products Sold
111,111 Products Sold Per Month
3,703 Products Sold Per Day
154 Products Sold Per Hour
2.6 Products Sold Per Minute
