Times of India Invests In Fab.com
Fab.com is a design e-commerce website that has raised around $156 million in total funding. The company has also just raised seven figures from The Times of India’s digital arm. The Times of India is a daily newspaper company based in India and they boast the largest circulation of English-language newspapers around the world. Fab.com acquired an Indian company called True Sparrow last month. Fab.com CEO Jason Goldberg was known for having an existing relationship with executives at True Sparrow.
“The Times of India Group wanted to get into our Series C that closed in July but they weren’t able to mobilize so quickly. They just made a small investment in a follow-on to the Series C,” stated Goldberg in an interview with VentureBeat.
“I met [Times Internet CEO] Satyan [Gajwani, pictured] earlier this year and we developed a relationship … There was not a relationship with True Sparrow,” added Goldberg. Fab.com plans to eventually start selling products in India and they will be able to benefit from their partnership with The Times of India.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry