Fab

Fab's CEO Refutes 'Hateful Rumors' That His Company Is Shutting Down

Guest Writer
2 min read
Opinions expressed by Entrepreneur contributors are their own.

"B*llshit hateful rumors of @fab shutting down are just that. B*llshit hate," Jason Goldberg, Fab's CEO, tweeted this afternoon in response to a report published by Valleywag pronouncing his ecommerce site as good as dead. "We’ve got years of money & a sound plan. Proof in time."

It's been rough going for the once white-hot startup. Since being valued at $1 billion last year, Fab has gone through multiple rounds of layoffs culminating two weeks ago when the company slashed a third of its remaining staff. "Realigning our team is part of a broader business plan, which we began implementing last fall and which will continue to unfold in weeks ahead," Fab said in a statement at the time.

Related: This Could Be Fab's Last Breath

Not so, according to Valleywag's Sam Biddle. "Sources say the team that's staying on through the end of the year is purely transitional—that is, to oversee the transition from existence to nonexistence, managing the e-commerce operation while it sells the remainder of its inventory," he wrote, to which Goldberg responded with the aforementioned tweet (along with two others directed at Biddle and Business Insider, who picked up the report).

This isn't the first time Goldberg has gone on the profanity ridden defense. This April, he published a blog post titled "It's a f-cking startup. Why are you here?," which acknowledged the company's precarious situation. "Are we out of the woods yet? No," he wrote. "Do we know how to get there? Sorta. We're still figuring it out," adding "we're fighting for our lives."

Goldberg's blog entire blog has since been deactivated. Is his Twitter next? And the real question…what about Fab itself?

Related: Zynga Layoffs: What Happens When Startups Grow Too Fast

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This Could Be Fab's Last Breath