Fab.com has gone from a social network for gay men to a flash sales site for gay men to a flash sales site focused on design. The final iteration seems to have done the trick, as the company added the 150,000th user in its first 45 days and just raised a big $8 million round led by Menlo Ventures.
Fab founder Jason Goldberg is a big fan of the pivot, even when that means starting from scratch. There must be something in the water at the First Round Capital offices, which has seen two portfolio companies, Fabulis/Fab and Stickybits/Turntable.fm, pivot out of dead end businesses and into big rounds within the last month.
Check out our in-depth exploration of the pivot culture in NYC tech and how it worked for Turntable.fm. And be sure to check back tomorrow for our coverage of the SkillSlate pivot party, going down tonight with, we hear, a real live firebreather. No word yet on what career he is pivoting from, but always a good idea to turn into the flames.
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