Why now during this unprecedented time of great uncertainty caused by a global health pandemic? Look, we know this is a unique time to announce something we’ve put over 3 years of immense thought and hard work into. Ultimately, it was a simple decision to announce now: We have software that can help companies adapt to a world that is quickly changing and will never be the same again. So, we feel it’s our obligation to share it now… because we CAN help. And we think everyone, at this moment, should be doing what they do best, to help.
The Covid-19 pandemic has brightened the spotlight on eCommerce — the convenience and safety of buying products and services online and getting them delivered quickly is now a greater expectation than ever before. Almost overnight, physical stores have been closed by government mandates, and eCommerce has stepped into the forefront, with online sales growth for many categories. Companies can no longer be sustained by treating eCommerce as a secondary channel to Brick & Mortar and legacy B2B sales processes. In fact, for many companies, eCommerce is now their single-channel and the only way forward.
Of course we can’t predict how this pandemic will play out in terms of time, severity, and ultimate impacts to companies. But, we’ve been in the drivers’ seat of a relentless and aggressive shift to eCommerce for the past 10 years, and we think the pandemic is yet another accelerant. Earlier, we were operators running eCommerce P/Ls, Product and Technology organizations at 3 companies with over $10B in digital sales. While that may sound great, let me tell you — it was painful. We were always frustrated with one important disconnect: the ever-advancing customer expectations for improved experiences and service levels, versus the antiquated commerce software that was slow to adapt. We simply couldn’t keep pace! Every single day we fought to improve the customer experience, but the legacy commerce software was too rigid and complex. Even keeping the sites up and running was hard! During peak seasons like Black Friday, we spent plenty of days and nights in “war rooms”, not home with our families for Thanksgiving. For all those missed holidays, the legacy eCommerce software platforms that were architected over 15 years ago are at fault. This insight compelled us to start Fabric. The speed at which business is moving today and forevermore is accelerating. This requires new commerce software to be built.
We decided to take our deep experiences building global commerce infrastructure, and create Fabric from the ground up in modern and modular architecture so that all other companies could quickly transition to a platform that was scalable, adaptable, and fast.
Over the past year, we’ve proven our software can make a difference, so today we are transitioning out of our “private beta” mode, in which we are already running over $500m of GMV with our customers. During this time, we’ve gained strong word-of-mouth growth with many of the world’s leading retailers, D2C brands, and B2B businesses, who are engaging with us right now to plan their fast transition to our eCommerce solution built for today’s (and tomorrow’s) pace of commerce.
You can read about our announcement here. We’re here to help, so please do your part by letting your colleagues and friends know we are ready and available to do our part, by helping companies adapt fast.