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.