[jackgavigan]

At first glance, it may seem like a startup that raised >$300m is selling itself for $15m but that's not the case at all. Earlier this year, Fab effectively pivoted from selling stuff designed and manufactured by other companies to designing, selling and manufacturing - and the other those words are in is significant - their own products (i.e. vertical-integration)[1]. That pivot was given a new brand (Hem.com) and it looks like the old Fab brand and business are being sold off, and the focus is now on Hem which, I presume, has the same shareholders that Fab had.

1: www.digitaltrends.com/home/hem-new-venture-fab-like-ikea-customizable-furniture/

[jgalt212]

Yes, I'm sure the deal was structured so that Andreesen Horowitz and other late stage investors won't have to take an immediate 99% loss on their Fab investment.