E-Commerce site Fab has greatly reduced what it will sell on its European site, Fab Europe. It now only sells custom-made, high-quality furniture.
Before, Fab Europe sold a variety of products, just like the main U.S. site.
Fab’s CEO Jason Goldberg wrote a very lengthy blog post about the matter along with his thoughts on Fab’s business as a whole. He says Fab tried to grow too quickly in Europe.
The post also focuses on Fab’s rocky 2013. After raising $US150 million at a $US1 billion valuation, the company drastically reduced its workforce and fired about 400 people.
Goldberg writes that it was a tough decision, but he wanted to focus on growing the foundation of the company (increasing sales and revenue) instead of going for rapid growth.