Fab.com, previously backed by US news provider Washington Post, raises $40m only five months after it reportedly raised $8m in its Series B.
Venture firm Andreesen Horowitz has led Fab.com to a $40m round today, although prior backer the Washington Post is not mentioned in the latest announcement.
Fab.com said other participants in the series B round were Menlo Ventures, First Round Capital, Baroda Ventures, SoftTech VC, movie star Ashton Kutcher – Guy Oseary, former chairman of music label Maverick Records, and A-Grade Investments.
Fab.com, which now sells design items, but started out as Fabulis, the gay social network, raised $8m in July, according to news provider TechCrunch. The Series A funding was led by Menlo Ventures. Other participants in the A round were the Washington Post, Fab.com founder and chief executive Jason Goldberg, Ashton Kutcher, Guy Oseary, venture capital firms First Round Capital, Baroda Ventures, A-Grade Investments, SofTech VC, SV Angel and Zelkova Ventures, TechCrunch said.
The amount raised takes the company to an estimated $51.m, TechCrunch said.
Six months since launching in June 2011, Fab.com has expanded to 1.2 million members and has grown by 300,000 new members per month in the past two months, with more than 500,000 products sold.
