The Fancy : Future of eCommerce?

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TheFancy is not another new social network. For lack of better description , I would say, think of pinterest and Tumblr combined with an added bonus of monetization — It’s an interesting novel idea that could well be the future of eCommerce.

So what is Fancy? According to them :

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 favorite brands and stores and to share your discoveries.

Use it to create a catalog of your favorite things around the web and around the world.

When you find something you love somewhere on the web, Fancy it.

Company founder Joe Einhorn said in an interview on BloombergWest that they aim to become the next amazon. At the present time, the company is paying users to get their friends on the site, but I wonder how long they can keep that going. Only time will tell.

What makes TheFancy’s idea a great idea? Unlike other social networks that mainly rely on advertising for revenue, TheFancy have built themselves a great business model to keep the company / site sustainable. This is because they make a commission on all the items sold on the site, creating a win-win situation with the users.

Fresh from announcing the acquisition of Face.com, Mark Zuckerberg, Facebook founder and CEO is said to have joined. Furthermore, The site is said to have hit over a million users and growing — I could fancy, TheFancy being acquired by facebook anytime soon.

Are you on fancy yet? Fancy me on http://thefancy.com/yizzi