Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
NEW YORK, United States — Fab.com Inc., the e-commerce startup valued at about $1 billion in a June fundraising round, plans to cut 101 people, or about 19 percent of its staff, as it seeks to turn a profit.
NEW YORK, United States — Fab.com Inc., the e-commerce startup valued at more than $1 billion, signaled that job cuts may be coming as the company revamps its approach to selling goods and strives to turn a profit.
NEW YORK, United States — The Fancy, an online shop with items culled by customers, raised $53 million from investors including American Express Co., billionaire Len Blavatnik and actor Will Smith, people familiar with the matter said.
NEW YORK, United States — Fab.com Inc. said it raised $150 million from investors including China’s Tencent Holdings Ltd., valuing the 2-year-old online retailer of uniquely designed home goods at about $1 billion.
Yesterday, BoF was first to bring you the news of the recent $18 million investment in Farfetch.com. Today, we continue a week focused on e-commerce by examining the historical challenges faced by online retailers and how recent innovations and infrastructural advances have fundamentally improved the economics of e-commerce, setting the stage for a renaissance in online retail. SAN FRANCISCO, United States — Following the burst of