The round is expected to be more than $100 million, TechCrunch's Leena Rao and Alexia Tsotsis report. Fab has already raised $171 million in funding, but the highest valuation it received prior to this round was $600 million.
Last year, Fab saw $150 million revenue, with sales growing nearly 300% from January 2012 to January 2013. Since it's first pivot from a social network for gay men to a design flash sales site, Fab has grown to more than 11 million members. Fab also has great retention, with repeat buyers making up 67% of its daily sales.
As Fab gears up to pivot, it will have a nice chunk of cash to fuel its next move. Fab's previous investors include Andreessen Horowitz, Menlo Ventures, SoftTech VC, First Round Capital, Kevin Rose, SV Angel, and many others.
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