Faire co-founder and CEO Max Rhodes revealed that his company, which was recently valued at $5.2 billion following a secondary share offering, took shortcuts to increase revenue growth and increase its headcount to 1,200 employees. The online wholesale marketplace connects artisans and other independent brands with small retailers for new products. Rhodes found that Faire's revenue growth was slowing, which he found had the potential to sink the company if left undisturbed. He decided to cut spending, reduce staff and eliminate incentives and discounts used to attract new customers. Despite this, revenue growth has grown, with customer retention rates rising and the company is projected to break even in the near future. Rhodes attributes the company's initial rise to a "hubris" factor and a lack of focus on turning its high-valued valuation into profitable businesses.