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From Home Furnishing Business

Fab Creates Custom Furniture Outlet

Furniture retailers and manufacturers will want to know about this new startup that seeks to take out the "middleman" in the consumer's quest for furniture.

The CEO of Fab has developed Hem, a new furniture Web site geared to custom furniture direct to consumers is set to open in about three months.

Forget what you know about the old Fab. This time CEO Jason Goldberg thinks he’s finally got it right with a new furniture site called Hem.

Investors can be forgiven for demanding Goldberg’s head given the sheer number of pivots the e-commerce site has endured. Goldberg is plotting yet another new path, and a new brand, to prove he can build a successful business on the back of $300 million in venture capital funding.

“I’ll tell you what I told our investors: We never signed on to building a two-year business,” Goldberg said when asked whether Fab, with the help of Hem, had the potential to grow into a multibillion-dollar business he promised them. “We signed onto build a business over 10, 20 years.”

To get there, Goldberg will need to turn Hem into the kind of undisputed success that has eluded him thus far. Fab, whose main site sells an array of funky and bright-colored clothing, art and home decor, has laid off around 500 of its 700 employees in under a year. 

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Source: Recode 

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