Fab Hits A Million Users, Is Raising Many Millions of Dollars

Design-focused flash sale site Fab announced an important user milestone today, the site hitting a million members; The company celebrated by giving each of their users $10 to spend and another $10 more to each friend they signed on.

The invite-only site has seen massive success since it pivoted from a gay social network in June, bringing in another 275K users in the past 30 days — with around 150K people visiting the site through its daily email alone. The company is operating profitable, expected to bring in $20 million in revenue in 2011.

Fab is taking advantage of this boom to raise some cash, we’ve heard from multiple sources. The company is raising a “huge” Series B round, which one source pegs as between $40 – $50 million at a ~$250 post-money valuation. Another source said that the valuation was in the “hundreds of millions.”

Existing investors First Round Capital and Menlo Ventures will be following on, and the round has a new top-tier investor who I haven’t quite yet sussed out. From what I’m hearing term sheets have been signed and the deal is set to close early December.

“Our buyers’ job is to find stuff that will make people smile,” Fab CEO Jason Goldberg, who wouldn’t give comment on the funding rumors, told me earlier today, “If they can do that the product will sell, and if we keep doing that the next million will come faster than the first million.”  Goldberg says that flash sales are just the start, and the company is presently working on supporting overnight shipping and in addition to adding advanced social features.

The Rise Of The Health Startup? A Peek At The 13 Companies In Rock Health’s Inaugural Batch

There’s been a bit of a debate going on of late among venture capitalists and investors over whether or not web startups are currently experiencing a cash crunch when it comes to early-stage and series A financing. (You can read Alexia’s recent breakdown here.) As per usual, the answer depends on whom you ask. This recent debate contrasts with the data seen in Column Five Media’s infographic from June, which showed venture funding and investment levels picking back up in the first half of 2011, poised to storm back to pre-2008-collapse levels.

Of course, the data showed that not all tech sectors were experiencing the boom times: Health and medical-related investment, for example, was on the low end, receiving only 3 percent of venture funding over the last year. Yet, there may be some evidence that investment in the digital health space may in fact be heating up. Looking at this data compiled by new healthtech startup incubator Rock Health, we see a list of 41 healthtech startups have been funded in 2011. CrunchBase’s data, which uses slightly more generous paramaters for defining “health tech”, puts that number over 120 or so.

Of those startups that were founded this year, Aza Raskin’s Massive Health raised $2.25 million in seed funding from Andreessen Horowitz, Charles River Ventures, and more. (Well, Massive Health was actually founded in December 2010, but close enough.) And Azumio, which was founded this year, raised $2.5 million in seed funding from Founders Fund and Accel in July.

What’s more, we just covered 100Plus’ $500K seed raise from Founders Fund earlier this week. The personalized health prediction startup was not mentioned in Rock Health’s list, I assume because it is still in private beta.

But the point is, as we’ve seen in Dave Chase’s series of guest posts, the healthcare industry is ripe for disruption. Sure, the industry has a long way to go, but we’re seeing some great progress from startups like Practice Fusion, for example, which is busy becoming the largest provider of electronic medical records in the industry.

There’s also plenty of room for help in the way of incubators. On Friday, Rock Health, the startup accelerator for health-focused startups, hosted its Demo Day at UCSF Mission Bay, where the 13 startups in its latest class introduced their businesses to 250 attendees, among them investors from Accel, NEA, Khosla Ventures, True Ventures, Benchmark, Kapor Capital, SV Angel, The Social+Capital Partnership, Founders Fund and more.

For those unfamiliar, Rock Health provides seed funding ($20K grants, without taking equity), office space, and mentorship to entrepreneurs that want to break into healthcare. We covered their debut here.

The thirteen startups that demo-ed range from BitGym, which makes motion-sensitive iOS video games for working out; to IDEO-spinoff Omada, an online support group to reverse diabetes; toCellScope, a smartphone plugin designed to remotely diagnose ear infections.

It was also great to see that these teams included entrepreneurs that have previously worked in other areas of tech and media and are now bringing their talents to health: For example, Gabe Vanrenen, the former Founder and CTO of Flurry, Jackson Wilkinson, the former head of UX for Posterous and LinkedIn, to Jeff Lieberman, the host of Discovery Channel’s Time Warp.

Again, we covered the initial eight Rock Health startups that were ready to introduce their wares back in June, and you can read about them here. However, five of the startups were not yet ready for the limelight, so we’re providing brief introductions to those below:

Bigevidence provides clinicians focused access to the universe of medical evidence at the point of care and within electronic health records, improving quality of care, while reducing costs and risks.

BitGym thinks you should be using video games to exercise. Their patent pending technology uses an iPad to turn any cardiovascular machine into an interactive
gaming experience.

Cake Health is the best free way to manage your healthcare expenses online. The startup was a finalist at TechCrunch Disrupt San Francisco in September. You can read our initial profile here.

Crohnology is a social health network for people with chronic medical conditions to share and learn what treatments work, meet others near them, and track and share their health.

Heartbeat is a salesforce.com-like enterprise solution for wellness professionals that aims to empower people to be successful doing what they love.

Applications for Rock Health’s next class beginning in January 2012 are open until Wednesday, November 16th.

Google Open Sources Android 4.0, Ice Cream Sandwich

The code for the latest version of Android — 4.0, also known as Ice Cream Sandwich — is now in the wild.

According to a post from Jean-Baptiste M. “JBQ” Queru, a software engineer on the Android Open Source Project, the code is still in the process of being uploaded, and developers are advised to wait til it’s fully complete before they start downloading it themselves. But it’ll be available very soon.

This is a huge deal for a few reasons.

For one, Android 4.0 includes some major improvements over both Gingerbread and Honeycomb, which are the versions of Android that are shipping on current Android devices. These include new API calls, performance improvements, and more.

But more important: it’s the first time Google has open-sourced a version of Android that’s optimized for tablets as well as phones. Now, obviously devices running Android 3.x Honeycomb have been around since early this year. But Google opted not to release the source code for Honeycomb. The reason? It had been thrown together quickly, and Google had to take some shortcuts to get it out the door (they were also concerned that third parties would try to port Honeycomb back to phones, which it isn’t suited for).

The open sourcing of ICS will allow manufacturers who aren’t working directly with Google to pump out tablets of their own (there are some low-cost tablet devices out there shipping with Gingerbread, simply because they couldn’t use Honeycomb). And it also means that custom ROM developers like CyanogenMod can tweak the code, port it to older devices, and more.

A couple of other interesting notes: the version of ICS that’s being open sourced is 4.0.1, and developers can download an image of the Galaxy Nexus, which has the build target full_maguro.

Oh, and if you really want to look at the Honeycomb source, it’s in there too (since it is an ancestor to Ice Cream Sandwich). But Google is discouraging anyone from actually using it.

Shopping Discovery App Zoomingo Raises $1.3 Million

The newly launched shopping discovery app Zoomingoannounced today it has secured $1.3 million in funding from early-stage VC firms Naya Ventures and Benaroya Capital along with several prominent angel investors. Previously self-funded, Zoomingo says it will use the additional capital to enhance its current mobile application, build a retailer platform and grow its community through expanded outreach to customers and retailer partners.

With this funding, Dayakar Puskoor, managing director of Dallas-based Naya Ventures, will also join Zoomingo’s board of directors.

For background, Seattle-based Zoomingo was founded by language learning service Livemocha’s co-founders, Shirish Nadkarni (Zoomingo CEO) and Krishnan Seshadrinathan (CTO). Nadkarni said he had the idea for the service when he noticed that his wife (an avid shopper, he says) was having trouble locating nearby sales using her mobile phone. So many of today’s apps focus on barcode scanning, deals and offers or price comparisons, but none simply rounded up all the nearby sales at local retailers in one easy-to-access mobile application.

Hence, Zoomingo.

The app pulls in sales data from major retailers using a combination of manual and automated means as well as crowd-sourcing via its “Deal Scouts,” who are positioned in several major U.S. cities. Zoomingo now provides access to 70,000 retail outlets in the U.S., and growing.

The app is available on both iPhone and Android.

Android Tutorial: Displaying Chart On Android

This is first of the series of android tutorials. Before going through this tutorial, audience is expected to be familiar with android API and basic android programming. In this tutorial, we are going to learn, how to display chart or bar graphs on android for your statistical data.

To begin with the tutorial, lets create new project.

FILE–>NEW–>Android Project

create android project in eclipse

create android project in eclipse

Now right click on the project in Package explorer and go to Properties.

Properties–>Java Build Path–>Libraries–>Add external JARs..

Linking API

Adding external JARS..

Once your API is linked, you are ready now for coding your program. Here is the link where from you can download the API www.openintent.org/en/libraries .

Now lets code the program. This is the complete code of android chart sample.

 

package com.google.android.chartView;
import com.kidroid.kichart.model.Aitem;

import com.kidroid.kichart.view.LineView;

import android.app.Activity;

import android.graphics.Color;

import android.os.Bundle;
public class chartView extends Activity {

/** Called when the activity is first created. */

LineView lv;

@Override

public void onCreate(Bundle savedInstanceState) {

super.onCreate(savedInstanceState);

setContentView(R.layout.main);

String xaxis[]=new String[4];

xaxis[0]=”2006″;

xaxis[1]=”2007″;

xaxis[2]=”2008″;

xaxis[3]=”2009″;

float line1[]=new float[4];

line1[0]=120;

line1[1]=240;

line1[2]=500;

line1[3]=100;

float line2[]=new float[4];

line2[0]=100;

line2[1]=650;

line2[2]=700;

line2[3]=300;

float line3[]=new float[4];

line3[0]=50;

line3[1]=180;

line3[2]=360;

line3[3]=900;

Aitem items[]=new Aitem[3];

items[0]= new Aitem(Color.BLUE,”pauOut”,line1);

items[1]= new Aitem(Color.GREEN,”pauOut”,line2);

items[2]= new Aitem(Color.YELLOW,”pauOut”,line3);

lv=new LineView(this);

lv.setTitle(“Yearly Budget”);

lv.setAxisValueX(xaxis);

lv.setItems(items);

setContentView(lv);

}

}

here is the final view of the chart module. After this demo, you should get stuff like this.

Android Chart

Android Chart

This is it. We are done with our first use of API successfully. Bellow are video tutorials.