Did Fancy Beat Pinterest to the E-Commerce Punch?
Fancy, owned by parent company thinsgsd, may have actually beaten Pinterest to the e-commerce punch. Earlier we reported that Pinterest had been testing software to add links to pins so that users could be directed to an affiliate site where they could purchase the pinned item. Pinterest would then get a cut of sale. But Pinterest then came out and said the software was just a trial and they have since discontinued the practice. While Pinterest continues to experiment with ways to make money, competitor site Fancy has already nailed it.
Yesterday Fancy, another inspiration pinning website, enabled users to not just pin and browse cool images, but to also purchase them directly on the Fancy website. Fancy CEO Joe Einhorn told TechCrunch, “We’re really focused on the commerce angle, and I think different sites may be focused on self-expression. We’ve constrained our growth to be laser-focused on commerce, and that’s working for us in terms of the quality that’s on the site.” Basically, they’re in it to make money.
Aside from the basic premise of sharing cool ideas and images, Pinterest and Fancy are actually quite different. While TIME reports that 83 percent of Pinterest users are female, more than 60 percent of Fancy users are male. Pinterest users enjoy pinning clever quotes, crafty DIY ideas, and zesty recipes, but Fancy users tend to be more interested in high-fashion and travel. Fancy has just 250,000 users compared to Pinterest’s more than 10 million strong following, but they seemed to be quicker on the e-commerce uptake as they should with such a star-studded backing.
TechCrunch reports that Kanye is a supporter of the site and the board includes big names like Jack Dorsey of Twitter and Square and Chris Hughes of Facebook. Investors in the site include Andreessen Horowitz, Allen & Co., General Catalyst, EstherDyson, Celtics owner Jim Pallotta, MTV creator Bob Pittman, former eBay COO Maynard Webb, Eric Eisner, Jeff Samberg, and Ashton Kutcher.
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