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Fab Now Doing Over 100,000 Orders Per Month
Fab.com, the daily deals website for gays is really having a fabulous year. Not only have the founders been able to successfully change focus from initial beginnings, they’ve managed to attract a core audience who seem willing to spend money—and spend they have.
What Fab has managed to do is record consistent growth in sales and added corresponding members to its base. In July, the company which specializes in gift, novelty items and artwork, was averaging 20,000 orders per month. By September that number doubled to 40,000 orders and by November, over 100,000 orders per month were being recorded.
These phenomenal numbers prompted comparisons to social networking giant, Facebook. In fact, at one stage, experts were saying Fab.com was growing faster than Facebook at its particular stage of existence. That comparison is not entirely farfetched because as founder Jason Goldberg is quick to point out, the company now has annualized revenue run rate of over $70 million.
A big part of Fab’s appeal is not so much its emphasis on the gay demographic, but ‘design’. One look at Fab’s website and its offers and you can see why it has appeal. This appeal transcends sexual orientation and is a big reason the company will do $6 million in revenue for the month of December. 2012 therefore looks very promising.
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