Shellhammer, Goldberg, and their growing roster of international investors are betting that will become the world's next great retailer. "They're building a global iconic brand that can be a $10 billion to $20 billion business," says Fab investor Geoffrey Prentice, a partner at European venture-capital firm Atomico. "In 10 years, they'll basically be in every living room." The startup has raised gobs of cash: $325 million and counting in venture backing from some 40 investors, including the hottest firms in Silicon Valley and the biggest e-commerce players in Asia, giving Fab a valuation of $1 billion.

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