Pune link to Fab funds
By Pune Tech News

Fab.com (co-founded & developed in Pune) has raised $40 million. Fab, an online ‘deals’ website specifically targeting ‘design’ items, and co-founded by True Sparrow Systems, has just closed a $40 million round of funding led by Andreessen Horowitz.

Fab.com started off as Fabulis, a social network for the gay community, but pivoted to a daily design deals site.

This is the second Pune-startup by Jason Goldberg, co-founder and CEO of Fab.com. Earlier, he had started social | median, again with True Sparrow Systems of Pune, and this had a successful exit to Xing in less than a year.

In general, Jason Goldberg seems to have perfected the art of co-founding a startup with a development team fully based in Pune. This is not outsourcing in the regular sense of the word; he works with Pune based True Sparrow to build a dedicated team for his startup. Jason works very closely with the team, involving them in the conceptualization, architecture and design of the product, and spends one week out of every 6 in Pune. For more details on how he does this, check out this PuneTech post from his social median days.

(In Techgoss syndication arrangement with Punetech)