New York-based design focused e-commerce company Fab.com has been acquired by custom manufacturing solutions provider for startups PCH International for an undisclosed amount of cash and equity. A Re/code report pegs the deal value to be around $15 million - $7 million in cash and about $8 million in stock. As part of the deal, the 35 remaining Fab employees are expected to continue with the company. Fab co-founder and former CEO Jason Goldberg has stepped down from his position, and will no longer be involved with the business. Current general manager Renee Wong is expected to run day-to-day operations. For PCH the acquisition is an attempt to enhance their distribution channels for designers and startups that work with them and are part of its accelerator programme. While Goldberg will be investing his share in his new venture, the custom designed online furniture store Hem. Congrats @liamcasey @PCH_Intl is perfect home for @Fab. PCH known for world-class operations, design, &the customer experience. — Jason Goldberg (@betashop) March 3, 2015 The Rise Founded in June 2011 by Goldberg and Bradford Shellhammer, Fab.com was an Internet darling. It had been valued at $1 billion during a fund raising round in June 2013. Investors were also in love with Fab.com. The company had raised over $300 million, including $8 million in July 2011, $40 million in December 2011, $105 million in July 2012, $15 million in November 2012 and $150 million in June 2013. The digital arm of the Times of India group Times Internet had also invested a…
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