SYS-CON MEDIA Authors: Nicole Gorman, RealWire News Distribution, Gathering Clouds, CloudCommons 2012

Related Topics: iPhone, Wireless, SOA & WOA, .NET, Search, Web 2.0

iPhone: Article

Apple Reportedly Interested in Buying The Fancy

The Fancy raised $10 million on a reported $100 million valuation last fall on top of the $8.7 million it previously got
By Maureen O'Gara
Article Rating:
August 8, 2012 07:45 AM EDT
Reads:
 2,346

Apple is in talks to acquire Pinterest rival, The Fancy, according to Business Insider.

The fast-growing social e-commerce site is backed by Twitter creator and Square co-founder Jack Dorsey and Facebook co-founder Chris Hughes.

The 20-man start-up calls itself "part store, blog, magazine, and wishlist" and actually has things for sale.

Business Insider says it is "much farther along in linking its users to transactions" than Pinterest and takes 10% of any purchases.

Apple CEO Tim Cook, who's not the type, started using the site after meeting its CEO Joe Einhorn at the Allen & Co Sun Valley conference earlier this year. Facebook CEO Mark Zuckerberg has also taken a fancy to it, so to speak.

The Fancy raised $10 million on a reported $100 million valuation last fall on top of the $8.7 million it previously got.

Business Insider thinks The Fancy could help Apple build e-commerce into its operating system and let developers hook into it. It could leverage the 400 million credit cards it has on file at iTunes.

Amusingly, The Fancy lives in offices above an Apple store in New York.

Published August 8, 2012 – Reads 2,346
Copyright © 2012 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.