This is certainly not the fabulous exit Fab was hoping for
Fab, the design-focused ecommerce service that was at one time valued at nearly $1 billion, has been acquired by PCH International, an Irish hardware manufacturer, the two companies announced Wednesday. Terms of the deal were not disclosed, but a Bloomberg report put it at $15 million
The deal comes after months of rumors that Fab's demise was imminent as the once hot startup went through rounds of layoffs and struggled to refocus on private-label products
Liam Casey, the founder and CEO of PCH, said his company plans to double down on exclusive offerings at Fab and work to turn it into a platform for "up-and-coming designers." Read more...
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