#42: Fab.com Inc
Original Headquarters: New York, NY
Purchased by: Tencent Holdings Ltd and Partners
Country: China
Fab.com, once a hopeful in the cutthroat online design market and headquartered in New York City, landed a significant $1 billion investment from Tencent Holdings in 2013, aiming to expand its footprint into Asia.
Under the leadership of CEO Jason Goldberg, Fab.com aimed to tap into Asian markets with the help of strategic partnerships to mitigate risks and boost success odds. However, by 2015, PCH International acquired the company, pivoting it towards wellness and yoga gear.
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