…Anddddd now Fab’s raising money, fresh off firing 100 people earlier this week. The ’emotional commerce’ company has raised a $10 million fund from the SingTel Group, according to TechCrunch, and will be partnering with the Singaporean telecommunications titan to bring Asians the joys of Navy Pretzel Ottomans and 28″ Sake Pouffes.*
Fab garnered a lot of hate when they raised $150 million last month at a $1 billion valuation, but CEO Jason Goldberg is either completely blinded by entrepreneurial vision, or blinded by the money as he pushes Fab away from flash sales and into…whatever their future as a “global store” will look like.
In the meantime, I’m sure the fired Berlin employees will take solace in the fact that their old employer is doing just fine without them.
*Some of the weird furniture available on Fab…LEARN DESIGN GUYS! Geez….