Fab, a six-month-old flash sale site for design products, has hired two new C-level executives.
Beth Ferreira, a former Etsy VP and startup consultant has joined as COO. David Lapter, former chief financial officer of Kick Apps, is Fab's new CFO.
Design Within Reach founder Rob Forbes has also joined as an advisor.
The five-month-old site says it's gained 200,000 users in the past 30 days. Three weeks ago, we reported that Fab had 750,000 users and was generating $100,000 per day.
That means it's quickly approaching the 1 million mark. Fab is likely hovering around 900,000 users. We were also told it's on track for an annual revenue run rate of $50 million with 2011 revenue estimated at $20 million.*
It looks like a good move for Ferreira and Lapter.
*Fab is doing even better then we initially reported. It's generating an estimated $20 million in 2011 revenue, not $10 million.