San Francisco startup Faire has made a billion-dollar business providing mom-and-pop stores with an Amazon-like marketplace for wholesale items at a time when many of the biggest retailers have been struggling. Faire, officially known as Indigo Fair Inc., has raised $150 million at a $1 billion post-money valuation. Lightspeed Venture Partners and Founders Fund co-led the round. Existing investors Forerunner Ventures, Y Combinator and Khosla Ventures also participated.

Source: Wall Street Journal October 30, 2019 11:26 UTC