Congratulations; Fabrik raises $24.9M
VentureBeat reports of a good news about Fabrik, a company that offer online storage and easy sharing of big files. Fabrik has just closed a $24.9 million deal and added Ross Levinsohn, former President of Fox Interactive Media, to the board. Its financing came primarily from 3i, with a small chunk from ComVentures.
Ross Levinsohn, spearheaded News Corporation's plunge into the online world, overseeing, among other things, the development of Fox and the acquisition of MySpace. VentureBeat went on to speculate that his joining the board is indicative of Fabrik's intention to push past the small business market and target consumers.
Fabrik's intention is to be the self-described “Apple of storage,” offering a line of hardware and software products whose components work best when used together. A highly placed source from inside Fabrik told me that they have a subscription figure of about 1 million devices per qaurter. It is also learnt that Fabrik was profitable before the infusion, but that it will allow them to expand their international efforts and diversify their offerings.