Apple Looks To Buy The Fancy

Apple wants to buy  The Fancy, a two-year-old social commerce site with only 20 employees.

Why? According to Business Insider, “The objective: to secure a role for Apple in the growing e-commerce market, putting the 400 million-plus users with credit cards on file with Apple's iTunes Store to work shopping—with Apple getting a cut of the action.”

The Fancy's (much larger) rival, Pinterest, lets users curate lists of things they like, but The Fancy actually monetizes off of these lists, taking a 10 percent cut of every purchase made from the site. This forward thinking is what is appealing to Apple — even Apple CEO Tim Cook, notoriously private and not affiliated with any well known social media sites, made an account on The Fancy recently.

With investors like Twitter cofounder Jack Dorsey and Facebook co-founder Chris Hughes, the site has already raised a $10 million round at a reported valuation of $100 million last fall.

So what does this mean for the fashion blogger? We already explained how you can build up your credit on The Fancy by posting links for your readers to make purchases, which in turn can help you expand your wardrobe. This means the bigger The Fancy becomes, the more options you will have as a fashion blogger to sell and buy within the site. 

[Image credit: Shutterstock]

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5 Responses

  1. Tia

    This is exciting to hear and the concept is great, but I feel like I’ll be cheating on Pinterest a little. With that said, I will check it out tonight.