Fab Is Raising A Mondo Round At A $1 Billion Valuation

We're hearing from multiple sources that design-focused retail site Fab is raising a new round of funding at a $1 billion valuation. The company has previously raised $171 million in funding and we're hearing it seeks to raise more than $100 million in this round. At Fab's last round of financing, the company was worth around $600 million. Twelve million users strong, Fab is continuing to grow at a fast clip after its initial pivot. Last year, the company saw $150 million in revenue, and revealed in February that sales were up by nearly 300% in January 2013 over January 2012. In fact, January was Fab?s 3rd highest sales month ever.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/EOK9cCLYnu0/

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