Investors Say Fab.com Is Worth $1 Billion

That's really the magic number now, huh? AllThingsD reports that the super-chic chair and bauble site just raised $150 million dollars, bringing its valuation to a billi. “I don’t consider us a success yet," says Fab's co-founder.

Fab hasn't answered any worries over the fact that it's expanding at a very high clip without much to back the hype (or compensate for the fact that it doesn't turn a profit). Expanding into China might help, or it could make an already expensive operation completely unsustainable.

And speaking of unsustainable, Fab's spend-happy co-chief Bradford Shellhammer doesn't seem to be fretting at all. From a Facebook post:

I've always idolized Liberace (his living out loud, costumes ...) but I guess I never realized just how little he actually lived out loud. I never realized you can be alone while surrounded by people.

So, there's big news at Fab today. And I'm feeling a little better. And so I go off to work now with a bounce in my step. And I smile.

They were all smiling at Groupon for a while, too.