Skip to content
Subscriber Only

Fab.com's Global Expansion Falls Into a Familiar Trap

In less than two years, Fab.com 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.