Fabulis, the social network for gay men, is now Fab.com, a far more memorable (domain) name. The young company behind the site, which is designed to help gay men discover people, places and activities all over the globe, has also raised $1.75 million in Series A funding from investors such as First Round Capital, The Washington Post Company, Baroda Ventures and Zelkova Ventures.
The financing comes on top of an earlier $1.25 million in angel financing, bringing the startup’s total of capital raised to nearly $3 million.
Fab.com has also gotten a number of enhancements, coinciding with the revamp.
Now over 110,000 members strong, the company has just launched a global directory of “gay-friendly places” with accompanying rankings, reviews, tips and photo uploads, complementing the site’s interactive profiles and database of gay-relevant events.
Fab.com also offers an iPhone app, which includes the ability to check in, identify your current location, rate places, name the people you’re with, upload images and more.
The startup says 40% of its members log in at least 10 times per month, while 25% visit more than 50 times per month. The site welcomes more than 5,000 new users on a weekly basis.
Fab is the marketplace for discovering everyday design. Fab was founded by serial entrepreneur Jason Goldberg in February 2011 and launched on June 9, 2011. Fab’s cofounders are Bradford Shellhammer, Nishith Shah and Deepa Shah. Fab’s headquarters are in New York, NY. Fab’s website and mobile apps offer exclusive access to daily curated design sales featuring the world’s leading designers and manufacturers. Fab is a members-only site, but it is free to join. In February 2012, Fab expanded into Europe...
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