JOSH MAREHBIAN
CFO
Fabfitfun, Inc.
Navigating the rapidly changing landscape of consumer products and ecommerce has posed challenges for industry leaders in recent years. At FabFitFun, maintaining profitability and managing liquidity has been particularly demanding amidst declining subscriber numbers and rising customer acquisition costs. In response, an innovative and calculated approach to restructuring operational expenses became essential. Josh Marehbian took the lead in identifying and revamping inefficient processes that had accumulated during a period of rapid growth. His strategic intervention facilitated a quick turnaround, making FabFitFun profitable within a quarter of his arrival in the summer of 2022, a trend that has persisted ever since.
In addition to steering the company towards profitability, managing the company’s balance sheet was one of the company’s top priorities. Proactively addressing potential debt maturity challenges in a tight capital market environment, Marehbian successfully negotiated improved terms for the company’s debt facilities through a comprehensive amendment process with lenders in 2023. These strategic moves not only bolstered the company’s financial position but also provided a vital cushion against market uncertainties. The enhanced profitability and financial stability also provided the company with another key opportunity: to continue investing in strategic growth initiatives. Collaborating with key leaders at the company, Marehbian established clear objectives and identified priority areas for strategic investments. Notably, the recent acquisition of Pupbox from Petco, Inc. marked the first acquisition in the company’s history. Marehbian led all aspects of the due diligence, deal structuring, negotiation, financing and closing processes.
