FabFitFun hires its first CFO
FabFitFun, the LA-based beauty and lifestyle membership, has hired retail finance veteran J. Scott Di Valerio as the company’s first chief financial officer, it announced on Tuesday.
As of this month, Di Valerio will oversee the strategy and execution for FabFitFun’s global finance, accounting, investor relations and business operations initiatives, as part of the newly created role.
“After almost 10 years of FabFitFun, we have seen our business evolve from an email newsletter to a multi-faceted membership that is reinventing the way people shop,” said Daniel Broukhim, co-founder and co-CEO, in a news statement.
“Scott brings a wealth of leadership and experience to FabFitFun that will be invaluable as we continue to grow and evolve our platform.”
Most recently, Di Valerio served as chief operating and financial officer for Spiceworks, a marketplace that connects business technology buyers and sellers to drive growth in their organizations.
Prior to that, he was chief financial officer for RetaiMeNot and chief executive officer for Outerwall. He has equally held various leadership roles at Lenovo Group, Microsoft Corporation, The Walt Disney Company and Mindwave Software Inc.
“I’ve worked with companies across the retail ecosystem; FabFitFun impressed me with its growth to date and the opportunity to build on that by leveraging the truly unique relationship they have with their members,” said Di Valerio.
“At a time where many companies are rethinking the retail experience, FabFitFun stands out as a leader that is ahead of the curve, and I’m excited to join an already strong and accomplished team.”
First launched in 2010 as a newsletter, the company has since grown as a lifestyle product subscription service and community of over one million members.
Early last year, FabFitFun raised $80 million in Series A funding. The funding, led by Kleiner Perkins, with participation from existing investors NEA and Upfront Ventures, allowed the company to expand in the UK last May, as well as expand its membership offerings and support the company’s global expansion.
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