The e-commerce design site plans to cut 80 to 90 employees from its New York operations this week.
The PR battle between Samsung and TSMC is going into high gear over who is making Apple's next-gen processor.
The e-commerce site is making job cuts as it aims to reach profitability.
The quirky flash-sales site sees a quadrupling of year-over-year sales numbers from Black Friday through Cyber Monday, with one third of purchases being made with its mobile apps.
The design e-commerce site says the cuts are due to its recent decision to transition away from its flash-sale business model.
The up-and-coming startup lays off employees at its Berlin office after it ends flash sales -- yet another business model change.
Mixing a bit of Pinterest with a bit of Amazon, the online design store asks users to "follow" categories they like to tailor the site and specials to them, instead of hawking deep discounts daily.
This story incorrectly characterized the investment round in Fab. Tencent Holdings led a group of investors.
The site, which sells designer clothes, furniture, and other items, has just received an investment of $150 million from a group of investors, including Chinese Internet company Tencent Holdings.