Fab raises $105 million in funding round

(Credit: Fab)

Design-focused shopping site Fab hopes to expand its global footprint and increase its warehouses and inventory with the $150 million its secured in a third round of funding, Fab CEO Jason Goldberg said in the company's blog post today.

The new round of financing was led by investment firm Atomico, which is also helping Fab expand its site globally, starting with London, Tokyo, Beijing, Sao Paulo, and Istanbul. Atomico's other investments include Skype and Rovio, the maker of Angry Birds.

"We believe that we have a special opportunity to create one of the world's next great brands," Goldberg wrote. "We believe that Fab can become the definitive global brand synonymous with design. We also know that it will take a steady focus on making our customers smile."

And the company seems to be sticking to its model, while also integrating Facebook and Pinterest into the site so all your friends can see what you think is "fab." You need to register on the site in order to see and purchase the products, which range from vintage housewares to clothes and accessories, to an adult panda costume.

The other contributors to the $150 million includes Andreessen Horowitz, Menlo Ventures, First Round Capital, David Bohnett's Baroda Ventures, ru-Net Technology Partners (RTP), Pinnacle Ventures, Docomo ... [Read more]