First Round Capital portfolio company Fab.com raises $105 million round, among other FRC-related deals
Tom Paine
New York-based Fab.com has raised a fab $105 million in its third round of funding. First Round Capital was a seed round investor in Fab.com, which started out as a gay social network before pivoting and launching as a design-focused ecommerce site last year. The new valuation is reported to be $600 million. This round was led by Atomico with participation by numerous other investors including FRC. Fab.com expects to do $140 million in sales this year.
Another New York-based firm in which FRC was a seed investor, social advertising startup 33Across, raised a new round of $13.1 million, bringing its total funding to date to over $26 million.
In other FRC news, Dan Primack reports in Fortune's Term Sheet email newsletter this morning that online movie scene site MovieClips has raised Series C funding led by U.S. Venture Partners. Once again, First Round was an early investor. Primack says he's hearing that the valuation is in the $80 million range.
Portfolio company Say Media, a San Francisco-based digital media company, raised a new round of $27 million led by New Enterprise Associates. Say Media was formed two year ago through the acquisition by VideoEgg (then an FRC portfolio company) of blogging platform Six Apart. All Things D reports that Say Media's plans include continuing its content acquisition strategy. Also, GoDaddy acquired portfolio company Outright, a cloud-based financial management company that had been positioned as a sort of Mint for small businesses. Terms were not disclosed.
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