The e-commerce site Fab.com announced today that it would acquire its Indian partner True Sparrow and its 85 employees.
“The deal was a combination of cash and stock with performance incentives based on Fab’s future global financial results,” Fab co-founder and CEO Jason Goldberg said in a blog post.
The company declined to give further details.
The founders of Pune-based True Sparrow helped found Fab after working with Golberg on a previous venture. They have until now remained independent.
Fab company builds all of its own technology. It brings in half of its new members from social referrals and a third from mobile — a higher rate than most e-commerce sites. The company has expanded its user base very quickly.
With the acquisition, the 9-million member e-commerce site brings its headcount to 645. Fab plans to expand its team in Pune, according to Goldberg.