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Fab.com Raises $105 Mil

Showing continued interest in flash-sale sites, design-oriented Fab.com just raised an impressive $105 million in new funding.

“The investment was led by Atomico, an international venture firm launched by Skype co-founder Niklas Zennstrom, and values the company at $600 million,” reports The Wall Street Journal’s Digits blog, citing sources.

“Much like a marriage, a nine-figure VC investment is not to be entered into unadvisedly or lightly,” TechCrunch cautions. “In his blog post, [Fab CEO Jason] Goldberg made a point of tempering the flashy funding announcement with a statement of Fab’s grounded focus.”

As part of its investment, Atomico “is also helping Fab expand its site globally,” reports CNet.

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This is the third major round of the funding for the company, according to VatorNews. “Just last December, Fab raised $40 million from Andreessen Horowitz for a site that took a while to really find its sweet spot in highly-curated, design-centric items.”

It’s been a long, winding road for Fab. As Mashable recalls, “Fab famously pivoted from a gay social network into an ecommerce site with millions of members and doing thousands of sales every single day.”

What’s Fab’s new end-goal? “Becoming nothing less than the world’s next big design brand,” according to GigaOm.

Saying as much, Goldberg stated in his blog post: “We believe that Fab can become the definitive global brand synonymous with design.”

 

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