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How startup Fab died


How startup Fab died Titanic Business Insider

How startup Fab died Business Insider

Source: http://www.businessinsider.com/how-billi...

"We spent $200M in the past 2 years. $200M!" Goldberg's letter read. "We spent $200M and we have not proven out our business model. We spent $200M and we have not proven that we know precisely what our customers want to buy.

"We are the most heavily funded startup in NYC in our life cycle and we have spent 2/3 of the cash ... Holy shit this is a big deal."

Goldberg's rallying cry could not save Fab.

Stashed in: Founders, Startup Lessons, FAIL

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What investors would let a company spend $200 million without knowing what its customers wanted?

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