Had been tencent investment, valued at $1 billion flash sales website Fab to shut down


(editor: horse relief yi)

overseas flash sales website Fab struggling for nearly a year later, finally to “shut down”. It is important to note that after the hugely popular with investors, once considered tencent internationalized layout a pawn, and investment of the penguin empire.

once star, Fab nearly a period of time has not seen any positive news. Executives, continued losses, massive layoffs. It is reported that so far, Fab cuts is close to 80%. The loss of more than $9 million a month. If the $30 million to calculate the rest of the paper, then has almost can’t Fab for “capital”, should be till the end of the beginning of next year.

sources, Fab CEO Jason Goldber will appear in the “hidden” in Germany.

for the news, Fab official replied: “is nonsense. Goldber will in the foreseeable future, to remain in the company.” Unfortunately, analysts generally believe that Fab is about to go to the end of the life.

overall loss is caused by various reasons. In addition to the external competition, as a magician, game capital wrist Goldber strategies fickle, good ‘far let Fab thoroughly to the door. When a product or service do not focus on improving the user experience, but blindly follow suit, also died it is destined to its fate.

the Fab is received from Andreessen Horowitz, Ashton Kutcher and other investors as much as $336 million in financing. The media has reported that tencent to participate in the investment of the company.