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