Fab.com to new owners
Financial Times is reporting that Fab.com has been finally sold. Fab.com has been for a sale for a while now and there have been rumors about the potential buyers, but it would appear that the deal has now been finally closed. It is believed that the final price for the asset was a small fraction of what the business was believed to be worth (by investors) in the past.
The new owner of Fab.com is an Irish company called PCH.
Fab.com has a long history and it has gone through multiple iterations, without much success. The lack of success ultimately lead to it’s former parent company deciding to sell the asset.
The founder of Fab.com Jason Goldberg has already been focusing on his new project, Hem.com (he really seems to love 3 latter .com domains combined with e-commerce) for a while now and it appears to be doing quite well.
Throughout it’s history Fab.com received more than $300 million in outside funding, which goes to to show that even that much money doesn’t guarantee success in the world of e-commerce.
Etsy.com preparing for an IPO
As mentioned yesterday etsy.com is still tiny company compared to the true e-commerce juggernauts such as Ebay.com, but that doesn’t stop the company from having big visions. And one of those visions is about to become reality as Etsy.com prepares for it’s Initial Public Offering (IPO)
Etsy.com plans to raise $100 million from the IPO and once it become a stock exchange company, it will be traded under the self-explanatory ticker ETSY. In fashion familiar from lot of the other online companies that have recently gone public, Etsy actually lost money last year – but not as much as some of the other online business that have had a successful IPOs. Etsy’s losses amounted to around $15 million last year.
It will be interesting to see if becoming a public company leads to some changes on the user experience on Etsy.com in either short term future or in the long term future.