Fab.com Raises $40M from Andreessen Horowitz, Ashton Kutcher

Just five months after raising $8 million in a Series A funding round, New York-based daily-deals site Fab.com announced it has brought in a $40 million Series B. The funding was led by Andreessen Horowitz, with participation from existing investors Menlo Ventures, First Round Capital, Baroda Ventures, SoftTech VC, and actor Ashton Kutcher’s A-Grade Investments.

The company was founded nearly two years ago as Fabulis and has spent much of this year repositioning itself as a place for consumers to buy well-made items with high visual appeal. The current incarnation of Fab.com went live in June offering deals on high-end furniture, décor, apparel, and accessories.

Fab.com says it plans to use the funds to make new investments in operations, technology, social commerce, and product expansions.

Author: Arlene Weintraub

Arlene is an award-winning journalist specializing in life sciences and technology. She was previously a senior health writer based out of the New York City headquarters of BusinessWeek, where she wrote hundreds of articles that explored both the science and business of health. Her freelance pieces have been published in USA Today, US News & World Report, Technology Review, and other media outlets. Arlene has won awards from the New York Press Club, the Association of Health Care Journalists, the Foundation for Biomedical Research, and the American Society of Business Publication Editors. Her book about the anti-aging industry, Selling the Fountain of Youth, was published by Basic Books in September 2010.