Dive Brief:
- PCH International announced Tuesday that it will acquire furniture e-commerce site Fab.com for an undisclosed amount.
- PCH, an Irish manufacturing company, said that Fab will be converted into a online sales channel for its hardware products and some customized products.
- Fab CEO and co-founder Jason Goldberg will part ways with the company, devoting his time to a new furniture company Hem.
Dive Insight:
While this sale was rumored to be happening as far back as November, it is now official.
Founded in 2011, Fab has gone through drastic changes in recent years, cutting its workforce from 750 people in 2013 to its current 35 employees and becoming a cautionary tale for the latest generation of startups. Growing a bit too fast, Fab had trouble controlling both its product catalog and marketing spend, which ultimately resulted in untenable spending and layoffs.
