I read / skim roughly 10 startup related articles going back 2+ years now. After a while things do get repetitive however today I came across a article about Fab which I found particularly interesting for 3 reasons.
1 – The dollar figures involved in investments received, sales generated, units shipped and acquisitions made is quite astounding especially considering the short time frame.
2 – Incredibly few companies reach product market fit. “Fab had product market fit, but Fab didn’t understand its product market fit,” a former Fab employee said.
3 – It had a CEO with an interesting personality and background who wrote an impressive memo to his stakeholders about the mistakes made.
I won’t attempt to summarize or try to add interesting anecdotes to the article as its superbly written and very insightful. I recommend you take a look. There are a lot golden nuggets in their which many founders can learn something from.
Spectatular failure from red-hot startup Fab that raised $330 million and then went bust