"I can tell you that rumors that Fab is exiting the U.S. market are entirely false," Fab spokesperson Amy Juaristi said to Adweek. "We have money in the bank and a low burn rate that will carry us through several years. We are heads-down implementing our long-term strategy, creating a strong and lasting future for the company."
Juaristi added that the New York-based company still has a strong global presence, with offices in Europe and India.
Fab chief Jason Goldberg also spoke out against the rumor on Twitter, furiously tweeting that he "can't take a crap without (Valleywag reporter Sam Biddle) knowing about it." Biddle responded in defense.
It's extraordinary how well Apple can keep secrets. I can't take a crap without @samfbiddle knowing about it.— Jason Goldberg (@betashop) June 3, 2014
Bullshit hateful rumors of @fab shutting down are just that. Bullshit hate. We’ve got years of money & a sound plan. Proof in time.— Jason Goldberg (@betashop) June 4, 2014
I have zero reason to lie about what I’ve heard re: Fab. People at Fab have every reason to lie about what’s going on at Fab.— Sam Faulkner Biddle (@samfbiddle) June 4, 2014
Goldberg also notoriously took to the company blog to tell his employees to stop complaining about work conditions because "it's a fucking startup," according to Racked. That blog has since been deleted.