Peter Kafka

Recent Posts by Peter Kafka

Shopping Site The Fancy Sells a $26 Million Round

Remember when Apple was supposedly going to buy in The Fancy?

Here’s what really happened: The social shopping site raised a $26 million round. That follows a $10 million round it raised from French fashion conglomerate PPR a year ago. The Fancy and its parent company Thing Daemon have now raised $42 million to date.

The Fancy’s SEC filing doesn’t explain where the new money came from, though it does contain an interesting hint: American Express vice chairman Ed Gilligan is now listed as a member of Thing Daemon’s board, along with PPR CEO Francois-Henri Pinault. I’ve put in queries to AmEx and to Thing Daemon/Fancy founder Joe Einhorn, but there’s a good chance they’re distracted today.

Other Thing Daemon board members include Twitter/Square’s Jack Dorsey, and Facebook vet turned investor/publisher Chris Hughes.

Thing Daemon was originally supposed to be an ambitious effort to create a “Facebook of Things.” But it has now evolved into The Fancy, which is essentially a fashion-forward version of Pinterest, with an explicit e-commerce option built into the site.

Here’s an interview with Einhorn from way back in December 2010:


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work