Fab.com, which started out as Fabulis, a social networking site for gay men, has not only recently changed its name but also started from scratch with an entirely new business centered around online flash sales of design items. After raising a $1 million seed round, and another $8 million in Series A funding, back in July, the company has seen absolutely stunning growth after the pivot.
The startup’s CEO, Jason Goldberg, says the site now boasts over 750,000 members, of which 40,000 signed up over the course of last weekend alone. And with 18% of its traffic (and 12% of its revenue) currently coming from mobile devices, the time was ripe for Fab.com to launch some apps.
Today, the company is doing just that, debuting applications for Android, iPhone and iPad.
Fab.com is already generating about $100,000 in sales on a daily basis, and Goldberg expects this number to shoot up quickly after the launch of the mobile apps, which are evidently free of charge.
The app enables users to receive daily notifications when new sales go live, browse and purchase items, and share products on Twitter and Facebook, among other features.