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 on a mission to help people better their lives with design. Fab was founded by serial entrepreneur Jason Goldberg, Bradford Shellhammer, Nishith Shah and Deepa Shah in February 2011 and launched on June 9, 2011. Fab’s headquarters are in New York. The company also has offices in Berlin, London and Pune. Over 6 million people around the world use Fab to discover everyday design products at great prices, to connect with the world’s most exciting designers, and to...