The Fab Story After 9 Months - London Web Summit April 19, 2012
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The Fab Story After 9 Months - London Web Summit April 19, 2012

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Fab.com founders Jason Goldberg & Bradford Shellhammer present the Fab.com story at the London Web Summit, April 19, 2012.

Fab.com founders Jason Goldberg & Bradford Shellhammer present the Fab.com story at the London Web Summit, April 19, 2012.

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The Fab Story After 9 Months - London Web Summit April 19, 2012 Presentation Transcript

  • 1. 1 Year after the Pivot
  • 2. What an incredible, rewarding,humbling, andwell designed journey.
  • 3. Feb 2011 2 Best Friends1 Failing Business
  • 4. THE PIVOTWe don’t want to spend one more dollar, let alone $1M doing something we don’t haveconfidence in. FEB 24We’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 PivotConvinced that iterating away in the gay space isn’t going to get us to a $100Mopportunity. 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. Big Vision: The Global BrandSynonymouswith Design Amazon.com for Design
  • 6. MAR 2011Coming Soon 4 NY employees
  • 7. MAR 19 Begin Viral Mechanics Holy Crap!50,000 peoplejoin in first 30 days
  • 8. April 15 Pre-Sales Social Features Launch: The Fab.com Inspiration Wall.Social Mood Board. Give users Something to do (and share!) whilewaiting for our sales to launch.
  • 9. 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
  • 10. June 9 Launch Day!Featuring Milton GlaserAshton Kutcher Invests 15 NY employees
  • 11. July 26350,000 Members $8M Series AFundraise led byMenlo Ventures
  • 12. AugustOur mission:Make People Smile.
  • 13. Photo: Daniel Goodman / Business InsiderSeptember16 new sales eventsper day, 2000+ new SKU’s per day 55 Team Members Worldide
  • 14. Oct. 11 Fab goes mobile:iPhone, iPad, & Android
  • 15. Nov. 14 1 MillionMembers in just5 months since launch.
  • 16. 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.
  • 17. Dec. 7Fab.com Raises $40M Series B
  • 18. Dec. 15 SocialShopping
  • 19. Feb 2012Fab acquiresCasacanda, Launches Fab.de
  • 20. March2012 3M Members50% from Social 40% Mobile
  • 21. 9 Months of Fab1 Million Products Sold111,111 Products Sold Per Month3,703 Products Sold Per Day154 Products Sold Per Hour2.6 Products Sold Per Minute
  • 22. 2012 On$100M+ Pace
  • 23. Amazing Designer Stories
  • 24. And, we’re just getting started... Photo: Daniel Goodman / Business Insider
  • 25. And, Fab Secretgetting started...The we’re just One Thing Authentic Smile Photo: Daniel Goodman / Business Insider
  • 26. Smile, you’re designed to.