Two years ago, founder Jason Goldberg launched Fabulis, a social media network for gay men. In June 2011, he and his partner tossed that idea, shortened the name and came back as a flash sale site with the emphasis on quirky housewares. As Fab.com, they raised over $105 million in start-up capital on a company valued at $600 million. Not bad.
Some would be worried about the short-term, wide swing, but not Goldberg.
“I tell start-ups that if you can’t figure out something in a year, it won’t work. You can’t iterate forever.”
Fast forward to April 2013 and Goldberg is taking his own advice again but at least this time, the shift is a little more subtle.