Fab's CEO and co-founder, Jason Goldberg, put together a year-end review of the design sale site.
Fab now has 10 million members and its products are sold in 26 countries. Goldberg also says that 4,320,000 products have been sold to date, and the site had numerous $1 million sale days in 2012. Products sold on Fab range from inexpensive jewelry to art and furniture worth thousands of dollars. 90% of Fab's products aren't sold on Amazon, or any other website.
Two-thirds of its sales came from repeat customers, and total sales have grown 600% from 2011 to 2012.
While the site is still a long way from profitability, it did smash its 2012 revenue goal. Fab generated $50 million last year after being in business for six months. This year, it exceeded $100 million in sales and generated about $150 million total. Of course, Ikea leads the design category with $30 billion in annual sales, so Goldberg's team still has a ways to go. Fab recently raised $120 million, which will aid the growth effort.
Here's what Fab accomplished in 2012, and what it wants to tackle in 2013.
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
