After two years, the creators of the social shopping site Fab have announced a five-part plan to transition the company from a flash-sale retailer to its own unique brand. One reason, explained founder and CEO Jason Goldberg, is that less than 40 percent of the company’s revenue comes from flash sales. In 2012, Fab’s inventory grew from 2,000 products to 15,000 products from more than 10,000 designers.
We used Storify to create this recap of Fast Company’s Social Media Week panel at the Bloomberg offices in New York City on February 21, 2013. Fast Company social media editor Anjali Mullany moderated an all-star panel that included Lee Brown, global head of sales at Tumblr; Josh Miller, founder of Branch; Jared Cluff, senior vice president of marketing at Fab; and Jonathan Perelman, VP agency strategy and industry development at BuzzFeed.
Yelp Users Punish Iowa Dentist Who Was Legally Cleared for Firing ‘Irresistible’ Assistant (SocialTimes)
Although an Iowa dentist prevailed in a legal battle and was eventually cleared of discriminatory employment practices although he fired an assistant for being sexually “irresistible,” his Yelp users have begun using Yelp as an outlet to let the dentist know they don’t approve. One user simply posted the AP story about the dentist, James Knight, as a review. Dozens of users have found it “useful.”
The online clothing purveyor shattered its own record on Christmas Day, with more than half of its traffic coming from mobile apps for the first time.
Social shopping site Fab sold more than $6.5 million worth of bearded hats, colorful knives, and 200,000 more unique products between Black Friday, November 23 and Thursday November 29, 2012. The company reports that sales have quadrupled since 2011, when holiday sales totaled $1.7 million.