U.S. flash purchase site Fab.com financing $40 million valuation of $200 million
U.S. flash purchase site Fab.com
sina science and technology news Beijing time on December 7th morning news, the United States flash purchase site Fab.com has completed a total of $40 million B round of financing, this round of financing on the valuation of Fab.com reached $200 million. Well known venture capital Andreessen Horowitz led the Fab.com round of financing.
Andreessen Horowitz partner Geoffrey; (Jeffrey Jordan) will join the board of Fab.com ·. The company’s previous investors, including First Round Capital, Menlo Ventures, SoftTech VC, A-Grade Investments and Baroda Ventures also participated in the company’s round of financing.
Fab.com said it would use the funds to develop business. The company’s co-founder and CEO Jason · Goldberg (Jason Goldberg) said that as many as 15 venture capital to participate in the company of this round of financing, but the company ultimately selected only two, Andreessen Horowitz is one of them. He said: we hope to introduce well-known investors focused on the development of the company. Andreessen Horowitz is very active in the entrepreneur." Goldberg at the same time for the joy of joining Jordan.
Fab.com is developing very fast. The site in 5 months after the launch of the number of users reached 1 million. Currently, the site’s annual revenue reached $50 million, the number of users was 1 million 200 thousand, while the number of users grew at a monthly rate of $300 thousand. Fab.com had $8 million in financing in July this year, when the valuation of $25 million.
Goldberg said, Fab.com half of the business from social media, including Facebook, Twitter, Google+ and Pinterest, etc.. "We grow like weeds," he says, "because people like to share the latest designs they find. Part of our core DNA is social media and sharing. This has been integrated with the Fab.com site."
Fab.com in the future will launch a new product type and innovative tools to further enhance the social discovery function.