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Fab.com Acquires Casacanda For $11 Million To Expand Into German Speaking Countries
The growth of Fab.com is starting to look like some sort of anomaly, not least because it’s been gathering members at breakneck speed, converting them from leads to buyers and giving daily deals competitors like Groupon a run for its money. And it’s essentially a niche daily deals website.
To add to that spectacular growth, Fab.com announced recently that it has acquired German start-up Casacanda. The move is being hailed by Fab has its first major move towards establishing its brand in markets overseas. This acquisition specifically will see Fab gain a foothold in Germany, Austria and Switzerland.
By all accounts Casacanda is a perfect fit for Fab has it has the same business model and targets the same type of demographic—gay men. The rebranded presence is now being marketed as Fab.de and so far it has over 250,000 registered members. 90,000 of that cohort signed up in the last 30 days, and many are wondering if Fab’s magic is going to be replicated in this new market. As an overall presence, Fab now has over 2.3 million registered members and growing; its rate of growth is also astounding and perhaps won’t be too long before you see it founders cashing out with an IPO.
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