Fresh Capital

Fab Just Raised $150M, But Their Series D Still Isn’t Done

"We are intent on bringing Fab to many new markets."
International love.

International love.

Pivot-happy ecommerce startup Fab has raised yet another round of cash. CEO Jason Goldberg announced in a blog post that the company has just closed $150 million in new funding. Participants include Tencent, Atomico, Andreessen Horowitz, Itochu Technology Ventures, and existing investors.

What’s more, he adds, it’s “just the first part of a larger Series D round” they expect to complete over the coming weeks.

This brings two-year-old Fab’s total VC funds to $310 million. No word whether it’s all stuffed into Brillo Pad poufs and weird plant holders lying around the office.

This latest move–which values Fab at a billion dollars– is part of a very, very aggressive growth strategy. The company recently announced a launch in France, as well as more original products and a retail-store pilot program. One of the new investors is Chinese Internet company Tencent, because “we are intent on bringing Fab to many new markets.”

“We believe that design is a universal language and we are confident that we can bring Fab’s unique products to millions and millions of people worldwide,” Mr. Goldberg added.

It’s pretty hard to exaggerate Fab’s ambitions. The question, as always, is whether the company has the goods to pull it off. (AllThingsD notes that the ecommerce industry is skeptical.) Mr. Goldberg wrote in his announcement that:

“There are currently only four e-commerce companies in the world that are valued at more than $10 billion: Amazon, Alibaba, eBay, and Rakuten. We believe that Fab has a legitimate chance to be the fifth by leading in Emotional Commerce.”

“Emotional commerce,” Mr. Goldberg will tell you, is a new category that Fab is pioneering,  which “is all about getting lost in the moment.” It’s supposed to be the company’s big differentiator, in opposition to the “commodity commerce” of the big four mentioned above.

Personally,  I wouldn’t want to go head-to-head with Jeff “Shark Eyes” Bezos armed with just feelings and the word “Wow!”

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