fab2011timeline-111228104652-phpapp02
Post on 05-Apr-2018
216 Views
Preview:
TRANSCRIPT
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 1/39
2011 Timeline
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 2/39
Photo: Daniel Goodman / Business Insider
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 3/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 4/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 5/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 6/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 7/39
THE PIVOT
We don’t want to spend one more dollar, let alone $1M doing something we don’t have
confidence in.
We’ve been iterating on product. Now we are pivoting to a business model.
We’ve been doing too much. We will stop doing a lot of things, to focus on one thing.
Convinced that iterating away in the gay space isn’t going to get us to a $100M
opportunity. Meanwhile, we we can see a $100M opportunity in front of us elsewhere.
3 criteria: (1) Passionate about it, (2) Can be the best in the world at it (3) Can be$100M+ business,
The Pivot: From gay places+deals to doing one thing we can be the best at: DESIGN.
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 8/39
SUMMARY
Fab.com management is preparing to relaunch fab.com as a private-sales site for design.
The new fab.com will feature daily 70%-off private sales on well-designed products direct from manufacturers.
This shift comes from maniacally paying attention to market feedback. We have uncovered this opportunity from our suppliers and our customers.
Management is confident and enthusiastic about this new direction. We want to build a $100M+ business thatdisrupts a market and creates value. We no longer believe we can do that in the gay male space while we believe
we have keen insight into how to do that in the design market.
We can leverage our user-base and technology as we pivot, plus bring our unique social-media savvy to this
market.
To support this move, Jason Goldberg will invest an additional $250,000 into new Fab.
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 9/39
fab.com the pivot
GayFacebook
Gay Yelp
GayFourSquare
GayGroupon
Design Sales
Our team’s passion +Customer Insights
leads to Pivot
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 10/39
DIFFERENTIATION
We will be all about good design. fab.com will be
synonymous with good design. Other flash-sale sites are all
over the map with their product ranges.
Superior user experience
Super use of social. Social is in our DNA.
Make it fun, witty, stuff people get excited about and want
to tell their friends about.
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 11/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 12/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 13/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 14/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 15/39
Gained 165,438 opt-in subscribers in 80 days leading up to june 1, 2011)
50% viral from invite links
30% Inspiration Wall users Average subscriber has invited 3 friends, 1 of whom joined
330,000 additional emails of friends yet to convert
Pre-Launch Viral + Social = Rapid Growing Userbase
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 16/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 17/39
June 20 - Progress To-Date
$600,000 revenue in 1st 12 days vs. $470k plan for month
$150 average order
Cash flow positive week 3
4k new subscribers / day, viral, 2% daily growth!
$1 per visit across all visits
.85% conversion rate
Plan Actual
Plan Actual
12 Days Revenue
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 18/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 19/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 20/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 21/39Wednesday, December 28, 11
Photo: Daniel Goodman / Business Insider
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 22/39
Photo: Daniel Goodman / Business Insider
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 23/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 24/39Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 25/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 26/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 27/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 28/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 29/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 30/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 31/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 32/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 33/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 34/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 35/39
Photo: Daniel Goodman / Business Insider
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 36/39
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 37/39
Photo: Daniel Goodman / Business Insider
Wednesday, December 28, 11
8/2/2019 fab2011timeline-111228104652-phpapp02
http://slidepdf.com/reader/full/fab2011timeline-111228104652-phpapp02 38/39
Wednesday, December 28, 11
top related