SlideShare a Scribd company logo
1 Year after the Pivot
What an
  incredible,
 rewarding,
humbling, and
well designed
    journey.
Feb 2011

 2 Best Friends

1 Failing Business
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.
Big Vision:
 The Global
   Brand
Synonymous
with Design

 Amazon.com
  for Design
MAR
 2011

Coming Soon




              4 NY employees
MAR 19

 Begin Viral
 Mechanics

  Holy Crap!
50,000 people
join in first 30
     days
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.
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
June 9

 Launch Day!

Featuring Milton
    Glaser

Ashton Kutcher
    Invests


           15 NY employees
July 26

350,000 Members

 $8M Series A
Fundraise led by
Menlo Ventures
August

Our mission:
Make People
  Smile.
Photo: Daniel Goodman / Business Insider




September

16 new sales events
per day, 2000+ new
   SKU’s per day




                      55 Team Members Worldide
Oct. 11

  Fab goes
   mobile:

iPhone, iPad, &
   Android
Nov. 14

   1 Million
Members in just
5 months since
   launch.
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.
Dec. 7

Fab.com Raises
 $40M Series B
Dec. 15

 Social
Shopping
Feb
  2012
Fab acquires
Casacanda,
 Launches
  Fab.de
March
2012


 3M Members

50% from Social

  40% Mobile
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
2012



  On
$100M+
 Pace
Amazing Designer Stories
And, we’re just getting started...




                                     Photo: Daniel Goodman / Business Insider
And, Fab Secretgetting started...
The we’re just




                   One Thing
                               Authentic
                                           Smile
                                            Photo: Daniel Goodman / Business Insider
Smile, you’re designed to.

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Jason & Bradford Fab.com

  • 1. 1 Year after the Pivot
  • 2. What an incredible, rewarding, humbling, and well designed journey.
  • 3. Feb 2011 2 Best Friends 1 Failing Business
  • 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
  • 7. MAR 2011 Coming Soon 4 NY employees
  • 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
  • 12. July 26 350,000 Members $8M Series A Fundraise led by Menlo Ventures
  • 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.
  • 18. Dec. 7 Fab.com Raises $40M Series B
  • 20. Feb 2012 Fab acquires Casacanda, Launches Fab.de
  • 21. March 2012 3M Members 50% from Social 40% Mobile
  • 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
  • 25. And, we’re just getting started... Photo: Daniel Goodman / Business Insider
  • 26. And, Fab Secretgetting started... The we’re just One Thing Authentic Smile Photo: Daniel Goodman / Business Insider

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