Apple said to be buying The Fancy to get its general e-commerce business going

Apple said to be buying The Fancy to get its general e-commerce business going
Looking to get its general e-commerce business running, Apple is rumored to be buying The Fancy. With over 400 million iTunes customers with credit cards on file, Apple would be able to immediately be a power in this space. The Passbook app coming in iOS 6 won't allow users to make purchases directly from their Apple iPhone or Apple iPad, but an acquisition of The Fancy by Apple would change that. The Fancy allows users to "post the tings they love," and is described as part blog, part magazine and part bookmarking tool. Using The Fancy, account holders can view items for sale and purchase them with a click. It sounds like it might be just the thing the Cupertino based firm needs to expands its e-commerce business.

The Fancy has received some attention thanks to the former Facebook and Twitter co-founders behind the app. It's last funding round valued the company at $100 million. Kanye West recently opened an account and sent a tweet picturing a visit he made to The Fancy's New York offices. Apple CEO Tim Cook also opened an account and has spoken with The Fancy's CEO Jim Einhorn. Often compared to Pinterest, The Fancy doesn't have as many users but the 20-person startup is further along when it comes to getting users to make a transaction. The company takes a 10% cut out of each purchase.

While an acquisition of The Fancy by Apple is pure speculation at the moment, Apple has successfully purchased startups and integrated them into its devices. One example of this is the purchase in 2011 that led to Apple's acquisition of the Siri Voice Activated Personal Assistant, a major feature on the Apple iPhone 4S.

source: AppleInsider

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23 Comments

1. Yummy

Posts: 117; Member since: Mar 28, 2012

Well yes that would be good for apple, but to be honest this isn't of much interest to me.

2. Jay_F

Posts: 236; Member since: Nov 29, 2011

I always felt that it was odd that people feel the need to post comments saying that the article content doesn't interest them. That's what the back button is for.

3. Yummy

Posts: 117; Member since: Mar 28, 2012

Well, a major emotion in the brain is curiosity. I came here and found nothing of interest but it was still worth reading. So apple might get something new and I tamed my curiosity. Win-win bro.

4. Jay_F

Posts: 236; Member since: Nov 29, 2011

Agreed, however it still doesn't really address my comment.

6. ardent1

Posts: 2000; Member since: Apr 16, 2011

Ever consider the "interest" is being referred to the service that Fancy offers as opposed to his "interest" in the article?

10. Jay_F

Posts: 236; Member since: Nov 29, 2011

If Apple bought it, then in all likelihood, it would only be offered on iProducts. But like the article says, the purchase is just speculation. Apple's not really at the stages of trying to kill Android at the moment anyways, they're just trying to wound one of it's biggest sellers

14. lyndon420

Posts: 6815; Member since: Jul 11, 2012

The Fancy takes a 10% cut. ITunes takes 30%+ right?

15. SleepingOz unregistered

uninstalled..

18. taco50

Posts: 5506; Member since: Oct 08, 2009

I guess some people don't understand rumor

20. PhoneArenaUser

Posts: 5498; Member since: Aug 05, 2011

And I think that other people understand more than you.

23. SleepingOz unregistered

I rarely use this app, and it keeps spamming my inbox everyday. I was about to uninstall it anyway. But what's your problem about me uninstalling Fancy? I'm free to do what I want with my phone unlike you. =]

16. KingKurogiii

Posts: 5713; Member since: Oct 23, 2011

oh noooo...i actually like this app and you know what Apple will do once they acquire it. T.T

21. MEeee

Posts: 438; Member since: Oct 19, 2011

The logo looks like an upside down middle finger.

22. PhoneArenaUser

Posts: 5498; Member since: Aug 05, 2011

For me more like a ice cream or mushroom. :)

* Some comments have been hidden, because they don't meet the discussions rules.

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