REPORT: Fab.com Is Raising Funding At A $1 Billion Valuation
Design deals website Fab.com is in the process of raising a new round of funding that would give them a valuation of $1 billion. Fab.com raised $171 million in funding throughout 2012 and this new round is expected to be over $100 million, according to TechCrunch. In the last round of funding, Fab.com was worth around $600 million.
Fab.com has around twelve million users. Fab.com hit around $150 million in 2012 revenues. Sales in January 2013 were up around 300% compared to January 2012. January 2013 was Fab.com’s third highest sales month ever.
Fab.com has a large international user base also. The company has 1 million users in the U.K., which is generating around 40% of their sales in Europe and is the fastest growing market outside the U.S. The Times of India is also an investor in Fab.com, which indicates that there is interest in India.
Other investors in Fab.com include Andreessen Horowitz, First Round Capital, SoftTech VC, Menlo Ventures, and Baroda Ventures. The funding is expected to be announced soon and we will confirm it when it happens.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry