There are talks going on about Apple Inc. Purchasing social networks and e-commerce website ‘The Fancy’, it could be an effort to move into the social network domain on a considerable superior scale.For those who might not know about the website, The Fancy is basically part store, magazine, blog and wish list such as bookmarking tool. Resembling to the site Pinterest where people can share, find out stuff and you can buy it too.
Business Insider has the story:
‘’Apple is in discussions to purchase The Fancy, a fast-growing social commerce site back by cofounders of Twitter and Facebook, Business Insider has learned.
The objective: to secure a role for Apple in the increasing e-commerce market, locating the 400 million-plus users with credit cards on file with Apple’s iTunes Store to work shopping with Apple gets a cut of the action’’.
Although there are no final words from the Apple Inc. To acquire the social networking/eCommerce website, but by the ‘The Fancy’ newest funding round, its estimated value is at 100$ million.
There’s no words yet from Apple Inc. willing to pay for the social networking/e-commerce site, but according to The Fancy’s latest funding round, its valuation is sitting at just over $100 million dollars.
strangely the Apples CEO Tim cook has got the account on The Fancy, you can a have a look at what he fancy’d, http://www.thefancy.com/timcook
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