Social Network For Gay Men Fabulis Rebrands To Fab.com, Raises $1.75 Million
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 siteâ€™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 youâ€™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.
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