Fab.com Raises An Additional $150 Million
Fab.com has raised another $150 million in a new round of funding as announced by CEO Jason Goldberg. Investors in this round includes Tencent, Atomico, Andreessen Horowitz, Itochu Technology Ventures, and other existing investors. Goldberg added that this is “just the first part of a larger Series D round.”
Fab.com has raised a total of $310 million in funding thus far. We knew that Fab.com was going to raise a large round of funding this month, but we were speculating that it was going to be at above $250 million. Fab.com now has a valuation at about $1 billion.
Fab.com has a major focus on expansion globally. The company recently launched in France. Tencent likely invested in Fab.com with plans to bring the company to China.
“Even though we are still in the midst of finalizing additional participants in our Series D round, we wanted to go ahead and make public this first $150 million closing now because we are excited to announce that Tencent has become one of the strategic investors in Fab. Tencent will also appoint a director to our Board,” stated Goldberg.