18 Months of Fab – 10 Million Members, 4.3 Million Products Sold
E-commerce site Fab.com has had a great year so far and thanks to the 100-plus page slideshow the company has now shared, it has the figures to prove it as well. According to Fab’s latest, the site reached 10 million members in 2012, and sold 4.3 million products across 26 countries.
Many of the numbers Fab shared this week were previously released, but it’s remarkable to see them here in one presentation, which looks back not only at 2012, but at the past 18 months of Fab.com as a whole. The story is interesting because Fab started only in June 2011 and the growth they have achieved in the past 18 months is truly amazing.
If you still don’t know much about Fab then let me tell you something. Fab.com started as a social networking site for the gay community and then pivoted to a design shopping site which is now valued at $600 million. For Fab, it’s about having a bigger vision – it wants to be the place where you shop to find the things you can’t find on Amazon or other e-commerce sites. Fab recently got a seven-figure investment from India’s Times Internet which gives a further boost to its business.
Some of the key figures Fab released include those below:
- 10 million members
- 5.4 products sold per minute
- 17 products sold per minute during holidays 2012
- 33% of sales via mobile
- Several $1 million sales days in 2012
- Total sales grew by 600% in 2012 vs 2011
- 30% of Q4 2012 sales outside the U.S.
- 7,500 designers
- 50% of sales are home products
- 15,000 products on site by end of 2012, up from 2,000 at end of 2011 (33% more than IKEA)
- New Fab-owned U.S. warehouse allows Fab to ship 75% of order within 2 hours of placement
- 600 employees in NY, Berlin and Pune vs. 85 in NY in 2011