Fab.com, a US-based design retailing website backed by investors including the India-based media company Times of India Group, Washington Post Company, Docomo, VTB Capital and RTP Ventures, is reported to be raising $250m to $300m in a new round of funding, which would give the company a $1bn valuation. The new round is expected to close by mid-June.
Fab.com has already raised around $171m. In December 2012, Times of India Group invested an undisclosed sum of at least $1m. In November 2012, Fab extended its series C round by $15m, having raised $105m in the round in July 2012, led by venture capital firm Atomico. In December 2011, it raised $40m in its B round, following $11m in prior funding.
Major investors in Fab.com include the Washington Post Company, the US-based media company, Docomo, the corporate venturing unit of Japan-based phone operator NTT Docomo, VTB Capital, a unit of Russia-based bank VTB, RTP Ventures, the US venture affiliate of Russia-based IT investment conglomerate Ru-Net, and venture capital firms A Grade Investment, Andreessen Horowitz, Atomico, Baroda Ventures, Cinco Capital, First Round Capital, Mayfield Fund, Menlo Ventures, Pinnacle Ventures, Phenomen VC, SoftTech VC, SV Angel and Zelkova Ventures.