Summary of the founders lost 300 million dollars

editor’s note: the rise of a creative product flash taker Fab and fall like a roller coaster ride. Transition to flash sales site after just 2 years of time has become the unicorn, and later because the pace is too fast a flop, finally only to the sale price of $15 million. Including A16Z, Tencent, including investors have not been able to get back to the original huge financing, one of the founders of the Jason Goldberg for this was depressed, a full 2 years without sound. The following article is his first public writing recently. In the article he reviews the development of Fab, and summarizes the lessons, I hope other start-up companies to learn from the past.

introduction

from 2010 to 2015 I was Fab and later split out of Hem founder and CEO.

I got more than $300 million from the venture capital for Fab.

but I didn’t make it.

I failed.

for everyone involved in the failure of the taste is not good. It took me 2 years to recover from this great failure, and I was able to discuss it in my head.

this article lists some of the events that occurred in Fab+Hem, and began to sum up the lessons from my own point of view. The next few weeks I will be more in-depth summary. In this process, I will discuss how those experiences affected the decision of the rebound and recovery that I have made today.

note: Fab+Hem as a venture capital has failed, but Fab.com and Hem.com are still, I believe that under the management of the new owners will be very successful.

face failure

during the period from 2004 to 2013 I wrote dozens of articles about startups and my views on entrepreneurial success and failure. A lot of people read it and told me to appreciate it.

then, 2013 – 2014, Fab had a problem. During this time I made some bad decisions, including the attempt by a now notorious article try to regroup. Because of the shame and horror of being the main character, and in order to focus on straightening the Fab’s bow, I turned off the blog.

this is the first time I’ve been trying to get back to writing in a few years.

Should

failure celebrate?

VC industry has a view that failure is worth celebrating. VC is a "hot" business, the ultimate winner can get their investment back and make up for all the losses. The entire VC mode >

Leave a Reply

Your email address will not be published. Required fields are marked *