This week brought news of a big fundraising by e-commerce technology startup Fabric, a $140 million Series C round led by Softbank. With the deal, Fabric became the Seattle region’s newest unicorn startup, a privately held company valued at more than $1 billion, or about $1.5 billion in its case. 

Our guest on this week’s GeekWire Podcast is Fabric’s CEO, Faisal Masud a former executive with companies including Amazon, Alphabet, Groupon, Staples and eBay.

We talked about the state of physical and online retail as we emerge from the pandemic, business to business commerce, the Amazon heritage on Fabric’s executive team, competition with Shopify and Salesforce, and why Amazon itself hasn’t been able to get traction in the area Fabric is focusing on.

The 300-person company offers software, APIs, and other behind-the-scenes technology used by retailers and business-to-business brands for many aspects of online commerce, including pricing/promotion, inventory management, digital storefronts, and payments/checkout.