FabFitFun Inc.
| File:FabFitFun company logo.webp | |
| Private | |
| ISIN | 🆔 |
| Industry | subscription services, media, consumer products |
| Founded 📆 | 2010 |
| Founders 👔 | Daniel Broukhim, Michael Broukhim, Katie Rosen Kitchens |
| Headquarters 🏙️ | Los Angeles, California, United States |
Area served 🗺️ | |
Key people |
|
| Products 📟 | FabFitFun Box, lifestyle media |
| Members | |
Number of employees | >500 (March 2021)[1] |
| 🌐 Website | fabfitfun |
| 📇 Address | |
| 📞 telephone | |
FabFitFun Inc. is a Los Angeles, California-based private eCommerce and media company that sells a quarterly subscription box, and produces related video and newsletter content. Its focus is on beauty and lifestyle products.
Founded in 2010, the company reported 2 million subscribers in April 2021, and was valued at nearly $1 billion after a January 2019 Series A funding round.[2]
History[edit]
FabFitFun was founded in 2010 by brothers Daniel and Michael Broukhim, and Katie Rosen Kitchens, initially as a newsletter and blog devoted to beauty, fitness and fashion.[3][4] The company reviewed new products.[5]
In 2013, the company started selling FabFitFun subscription boxes, designed to mimic the merchandise bags given to editors at promotional events.[2][4] The founders reportedly got the idea of a subscription service when brands sent them merchandise to review, and gave them VIP bags at media events. They wanted to replicate that for their customers.[6]
In October 2015, the company took its first outside funding, with a $3.5 million round led by investors New Enterprise Associates and Upfront Ventures, with participation from other investors.[6] The company used the funding to expand its headcount, and launch eCommerce capabilities.[2][7] At the time, the company reported 1 million subscribers.[6]
In March 2017, the company launched FabFitFun TV, an on-demand Los Angeles focused fitness channel.[8]
In September 2018, the company expanded its live programming to include a daily channel on its Facebook page.[9]
In January 2019, the company raised a $80 million Series A growth round of funding led by Kleiner Perkins, with participation from previous investors.[10] The funding round made the company one of 21 startups co-founded by women that reached unicorn status in 2019.[11] In May, the company opened a 600,000 square foot fulfillment center in Chino, California.[12] Also in May, the company announced its subscription boxes were available in the United Kingdom.[13]
In February 2020, entertainment magazine Variety reported that the company had discontinued its live Facebook program, and was laying off 100 employees, about 18% of the staff.[3] In September, it was reported that the company's web site suffered a Magecart skimmer infection, exposing customers emails and credit card information.[14] The company reported the incident to law enforcement, and offered free credit monitoring and identity theft protection to affected customers.[14] The company later settled a related class action lawsuit for $625,000, and agreed to implement additional security measures.[15] In October, the Los Angeles Business Journal reported that the company appeared to be readying itself for an IPO.[16] Also in October, the company launched a subscription program for individual products.[17]
In January 2021, the company released its FabFitFun Standard list of 12 ingredients it would not include in its products, including Benzene, Oxybenzone and Triclosan.[17] In March, the company began working with San Francisco-based supplier diversity company RangeMe America to identify more diverse suppliers for its subscription boxes.[1] In June, the company signed a multi-year deal for headquarters space at WeWork's Green Building at the Pacific Design Center in Los Angeles.[18]
Products[edit]
FabFitFun is a lifestyle eCommerce and media company that sells subscription boxes of lifestyle merchandise; and publishes newsletters and lifestyle content. The company's flagship product is the FabFitFun Box, a quarterly subscription service that includes a collection of full-size products across beauty, fashion, wellness, fitness and technology.[19] Memberships also include access to the company's FabFitFunTV streaming video service of wellness videos, daily lifestyle content, a digital lifestyle magazine, and access to sales and shopping experiences.[19][16][3]
The company's media business publishes original lifestyle content via its digital magazine, print magazine included in each box, and across its social media properties.[6][13]
Investment activity[edit]
The company also acts as an investor and incubator, helping other companies launch their products.[16] The company helped launch the Our Place kitchen and cookware brand, and also partnered with TV star Ellen DeGeneres to help launch the faux fur company UnHide.[16]
Operations[edit]
FabFitFun is headquartered in Los Angeles.[18] It operates a fulfillment center in Chino.[12] Its co-CEOs are brothers Daniel and Michael Broukhim.[16] Katie Rosen Kitchens is the Editor-in-Chief of the company's content, including its FabFitFun Box and its digital lifestyle magazine.[16][20]
As of March 2021, the company had reportedly over 500 employees. It is considered a tech unicorn as of January 2019, with a valuation around $1 billion.[11] In April 2021, it reported almost 2 million subscribers.[2]
References[edit]
- ↑ 1.0 1.1 "FabFitFun Strikes Deal to Increase Supplier Diversity". Los Angeles Business Journal. March 28, 2021. Retrieved May 30, 2022.
- ↑ 2.0 2.1 2.2 2.3 "With 2 Million Captive Shoppers, FabFitFun Sets Its Sights On A Future In E-Commerce". Forbes. April 13, 2021. Retrieved May 30, 2022.
- ↑ 3.0 3.1 3.2 "FabFitFun Lays Off 100 Staffers, Membership Subscription Company Shuts Down Live TV Production Team (EXCLUSIVE)". Variety. February 14, 2020. Retrieved May 30, 2022.
- ↑ 4.0 4.1 "Content, Community and Commerce Drive FabFitFun's Growth". US Chamber. November 20, 2019. Retrieved May 30, 2022.
- ↑ "FabFitFun surpasses $200 million in revenue as it hits million-subscriber milestone". TechCrunch. November 1, 2019. Retrieved May 31, 2022.
- ↑ 6.0 6.1 6.2 6.3 "NEA And Upfront Ventures Back Subscription Box Company FabFitFun In $3.5M Round". TechCrunch. October 14, 2015. Retrieved May 30, 2022.
- ↑ "FabFitFun raises $3.5 million to add staff". Digital Commerce 360. October 13, 2015. Retrieved May 30, 2022.
- ↑ "By Chloe Opens in Williamsburg; FabFitFun Launches On-Demand TV". Observer. March 8, 2017. Retrieved May 30, 2022.
- ↑ "FabFitFun expands its video reach with a new experiment in live programming". TechCrunch. September 24, 2018. Retrieved May 31, 2022.
- ↑ "FabFitFun raises $80 million for its growing lifestyle brand". TechCrunch. January 20, 2019. Retrieved May 30, 2022.
- ↑ 11.0 11.1 "Meet the 21 startups cofounded by women that reached unicorn status in 2019, hitting a valuation of $1 billion or more". Insider. January 20, 2019. Retrieved May 30, 2022.
- ↑ 12.0 12.1 "New fulfillment center in Chino". Champion Newspapers. May 11, 2019. Retrieved May 30, 2022.
- ↑ 13.0 13.1 "FabFitFun Expands Subscription Box To The UK". SoCal Tech. May 15, 2019. Retrieved May 31, 2022.
- ↑ 14.0 14.1 "'FabFitFun' Subscribers Have Had Their 'PayPal' and 'Apple Pay' Credentials Stolen". Technadu. January 20, 2019. Retrieved May 30, 2022.
- ↑ "FabFitFun Settles Class Action for $625,000 for Alleged Data Security Failures". The National Law Review. September 16, 2021. Retrieved May 30, 2022.
- ↑ 16.0 16.1 16.2 16.3 16.4 16.5 "Fast-Growing Etailer FabFitFun Could Be Considering IPO". Los Angeles Business Journal. October 4, 2020. Retrieved May 31, 2022.
- ↑ 17.0 17.1 "FabFitFun releases its version of a clean beauty no-no ingredient list". Glossy. October 4, 2020. Retrieved May 10, 2022.
- ↑ 18.0 18.1 "FabFitFun Sets Headquarters at WeWork Location". Los Angeles Business Journal. June 9, 2021. Retrieved May 30, 2022.
- ↑ 19.0 19.1 "FabFitFun unboxes $80 million to expand lifestyle brand". LA Business First. January 30, 2019. Retrieved May 31, 2022.
- ↑ "Meet Katie Echevarria Rosen Kitchens of FabFitFun in Los Angeles". Voyage LA. November 19, 2018. Retrieved May 31, 2022.
External links[edit]
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