July 18, 2012 by Christina Warren Like+1SharePin ItShareDesign-focused, socially charged ecommerce site Fab announced Wednesday that it has closed a $105 million Series C financing round.Fab famously pivoted from a gay social network into an ecommerce site with millions of members and doing thousands of sales every single day.Fab’s growth continues to accelerate. Back in December — when the company closed a $40 million round of financing — the site boasted 1.2 million members.Seven months later, that figure has quadrupled to more than five million members. Fab co-founder and CEO Jason Goldberg told us that the company is now selling 3.4 products per minute. “We hit on great products that people love,” Goldberg says. He attributes Fab’s continued growth to “a singular focus on design.” For Goldberg, that focus is both what sets Fab apart from the competition and what keeps customers coming back for more.SEE ALSO: Fab.com: Behind the design of the Sleek Ecommerce Site Fab’s New Goals: Better Fulfillment, Faster Shipping and RetailSo what will Fab do with $105 million of fresh capital?
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Fab Raises $105 Million, Sets Sights on Retail Stores
