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Fab.com Valued at $1 Billion as It Expands to Asia

Fab.com Inc. said it raised $150 million from investors such as China’s Tencent Holdings Ltd., valuing the 2-year-old online retailer of uniquely designed home goods at about $1 billion.

The funding will help Fab expand into Asia and enhance its supply-chain operations, the company said. Fab, which isn’t yet profitable, is targeting sales of about $200 million to $300 million in 2013, about double last year’s revenue, Chief Executive Officer Jason Goldberg said in an interview.