Fab.com has a new owner

Jason Goldberg, co-founder of Fab.com and former head of the company

The company PCH International, which helps startups to create and release hardware, announced the purchase of the service Fab.com. Last month, there were only rumors about the possibility of selling the service, but now the sale has been officially confirmed.

Liam Casey, head of PCH International, refused to disclose the amount of the transaction, but earlier it was reported that the service would be sold for 7 million in cash and 8 million in shares. Thus, the total amount of the transaction is approximately 15 million US dollars. As for the service staff, they go to PCH.

Liam Casey announced that Fab.com will be used as a sales channel for hardware, which PCH is helping startups to create. In addition, a modified version of these products will be presented at Fab.com - they will be sold only here. According to Casey, PCH is now more customer friendly than ever. Startups, which the company helps, get a ready-to-sell device or module, and can immediately proceed to the commercial part of the project.
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Note that the former head of Fab.com will not transfer to PCH. Jason Goldberg will work on Hem , a furniture company that builds furniture for its projects, with the further sale of finished products through its website. Goldberg took over 100 people from the Fab team, as well as tens of millions of dollars to investors.

Fab.com was founded in 2011, and received over 300 million US dollars in investment. After some time, the marketing model of the project ceased to be manageable, and the product catalog became too large to work effectively with all of this. However, in 2013, this service was estimated at $ 1 billion, previously 750 people worked here. After only two years, as we see, the cost of the project has significantly decreased.