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Subscriber Only's Global Expansion Falls Into a Familiar Trap

In less than two years, bought companies in Germany and the U.K., relocated the London employees to Berlin, and then cut more than 100 of the workers there . The New York-based startup now wants to focus on growing its business in Asia.

That decision came this summer when the company raised $150 million from investors such as China's Tencent Holdings at an eye-popping $1 billion valuation . Last week, CEO Jason Goldberg announced that Fab had raised another $10 million from the venture arm of Singapore Telecommunications.