Adam Goldenberg is the co-founder and co-CEO of JustFab. The company, founded in El Segundo, California, has become a big player in the world of fashion. JustFab also isn’t the first company he has founded; he founded and sold game network Gamer’s Alliance and also founded Intelligent Beauty which is a startup accelerator.
JustFab has grown by quite a bit since it was founded in 2010. In 2013 the company raised $55 million and acquired ShoeDazzle, and shoe discovery service on Vator.tv. JustFab now has a presence in six countries, including the United States, and has continued to add additional brands such as the phenomenally successful Fabletics.
Adam Goldenberg has commented that they have been very metrics-driven since the very start of the company. Due to this, they have the ability to learn quickly and adapt their offerings and business practices to what customers find appealing. He has said that they look at the numbers daily, even hourly when helpful. He is a big believer in transparency so the numbers, good and bad, are shared within the company to all stakeholders so that solutions can be quickly arrived at and implemented.
Customer feedback has always been at the heart of what Goldenberg wanted to make the company as successful as possible. An example he gave was when they priced handbags and shoes at $39.95; by listening to customer feedback they discovered that their customers weren’t willing to pay that much. Adam Goldenberg has also identified passion as something that is very important at JustFab. They hire people based on how they will fit in with the company’s culture, which is to bring passion to everything they do.
Goldenberg was an entrepreneur even as a teenager, which is when he founded Gamer’s Alliance on nrf.com. After he sold it the company that bought Gamer’s Alliance made him the youngest Chief Operations Officer of a publicly traded company ever. He recently answered a series of quick-fire questions that reveal his thoughts on business. One of his comments centered on what makes JustFab unique, and his answer was about how their membership model sets them apart because it creates a commitment between the company and the customer to both’s mutual benefit.
Goldenberg has said that the biggest challenge now is how to stay nimble when they’ve grown so much. Among the things that drive him are creating teams of people and challenging them to succeed, and he is inspired by those who win after challenging the status quo.