A few weeks ago we told you investors were throwing gobs of money at four startups: Quora, Instagram, Fab and Uber.
Today, two of those companies raised monstrous rounds.
Earlier this morning we reported Uber’s $32 million round.
Now Fab has announced a $40 million Series B round led by Andreesssen Horowitz at a $200 million valuation, The Wall Street Journal reports.
Jeffrey Jordan will be joining Fab’s board. Former investors First Round Capital, Menlo Ventures, SoftTech VC, A-Grade Investments and Baroda Ventures also participated in the round.
Fab says it will use the new funding to grow and expand its business. Cofounder Jason Goldberg tells us 15 new venture capitalist firms wanted in on its round. It narrowed the firms down to two, Andreessen Horowitz being one of them.
We’ve been tracking the flash sale decor site’s crazy/fast growth for a while now. It reached 1 million users just five months after launch, and it has an annual revenue run rate of $50 million. It now has 1.2 million users and wants to quadruple that number in 2012. It’s been growing by 300,000 users per month.
That puts Fab’s valuation at a 4X multiple, which isn’t too absurd for a flash sales site.