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Speaking with multiple anonymous sources close to the design-focused "fucking startup" Fab.com, Tech Crunch reports that the company will finally zero in on a new strategic direction over the next couple of weeks—and no matter what that entails, the US operations, which are based in New York, will downsize to around 20 or 40 employees.
In a public letter to his staff in late April of this year, company CEO Jason Goldberg explained that the head honchos at Fab are "solving for a repeatable viable business model" after several rounds of layoffs and a couple shifts in strategy since its inception. Rumors from inside sources suggest that the business will focus more on private-label products, while distancing itself from third-party partnerships and sales. It's a model that the company has already been moving towards, but we can expect even more Fab-branded home goods. Buyers have (allegedly) already been taken off projects past June 2014.
Update May 12, 2014 at 1:20pm: Nothing has been confirmed by Fab at this juncture, but a formal announcement regarding new product is expected during a press event on May 15.
· Fab's Future Could Be Decided In The Coming Weeks [Tech Crunch]
· Fab's CEO: "It's a Fucking Startup. Why Are You Here?" [Racked]