Fab is taking on The Times of India Group and its Times Internet arm as its latest investor, raising what the company only called a “7-figure investment” in the company. Other specifics were not publicized; Satyan Gajwani, CEO of Times Internet Group fostered the deal. Fab has raised more than $150 million since its 2011 inception. Other backers include Andreessen Horowitz, Baroda Ventures and Mayfield Fund.
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Venture capitalists remained cautious during the summer months of a presidential election year, reining in third quarter investments in the face of a slow economy and soft IPO market. Investments by U.S. firms came to $6.49 billion in the quarter down 11.6% from a year ago.
(Reuters) – Consumers spent a record $1.25 billion on Cyber Monday, according to comScore, highlighting how much people love shopping online. But another group is in just as much of a frenzy over online retail: venture capitalists, who invested a record $2.39 billion in online shopping this year, according to Thomson Reuters data. That’s more [...]
Fab.com — which pivoted from a lifestyle website for gay men to a design-focused flash sales site — announced Wednesday that it raised $40 million in a Series B round led by Andreessen Horowitz. The new round comes just five months after the company raised an $8 million Series A led by Menlo Ventures. Joining [...]