From BI:
The Fancy has been described as an alternative to Pinterest, another sharing site which has exploded in popularity in recent months, especially in the crucially active young female sector. The site allows users to 'pin' items they find online that they would want to buy. Here's how Fancy explains itself:The objective: to secure a role for Apple in the growing e-commerce market, putting the 400 million+ users with credit cards on file with Apple's iTunes Store to work shopping - with Apple getting a cut of the action.
But what would Apple want with a company like that? Well, The Fancy has one significant advantage over Pinterest: It allows users to buy items directly from the website itself, and it is this which might appeal to Apple, who may be eyeing up a 30% cut of transactions.Fancy is part store, blog, magazine, and wishlist. It's a place to discover great stuff, to curate a collection of things you love, to get updates on your favourite brands and stores and to share your discoveries.
Use it to create a catalog of favourite things around the web and around the world. When you find something you love somewhere on the web, Fancy it.
Apple CEO Tim Cook has met with The Fancy CEO and Cook himself has even created an account on the website, 'Fancying' several items. I think i agree with BusinessInsider's view that the acquisition could have something to do with Apple's desire to launch a full 'iWallet'. It makes sense for the company to have a social backbone in whatever shopping experience it decides to serve up.
From BusinessInsider.
