buying website Bezar Is Reportedly working Out Of Funding

Sources close to the corporate instructed Re/code the startup, Fab cofounder Bradford Shellhammer’s newest mission, is struggling to raise funding.

by way of Jessica Hullinger

January 13, 2016 site Bezar launched final March, founder Bradford Shellhammer informed quick company his dream used to be that the web site would develop into a highly curated digital marketplace on par with Etsy. nevertheless it appears the startup, a form of reincarnation of the embattled Fab.com, is working into problems even before it turns 1. consistent with a record from Re/code, the company is working dangerously low on cash and struggling to get extra funding. Sources familiar with the company told Re/code the corporate would seemingly shut down.

before Bezar, Shellhammer, who fast company named considered one of its Most ingenious people in 2012, cofounded the flash sale site Fab.com, which raised $300 million in VC funding and saw a $1 billion valuation before hitting turbulence. In 2013, it was once rumored to have misplaced $ninety million. It laid off lots of of workers and Shellhammer quietly took his leave from the company.

Bezar was once supposed to right Fab’s wrongs. as a substitute of flash gross sales on excess inventory, the new site features temporary pop-up stores where handpicked designers showcase distinctive items. “I don’t need to simply be the man who is doing Fab once more,” Shellhammer mentioned when the site launched. Bezar raised $2.25 million early final yr.

fast firm has reached out to Shellhammer and can update this post if we hear again.

[Screenshots: by means of Bezar]