US Social power Platform fancy Program, priced at 1 billion

Fancy, American social-networking platform, proposes to sell 1 billion dollars

Beijing time, September 6 morning news, according to a Bloomberg report, people familiar with the situation, because of difficulties in financing, the U.S. network retailer Fancy is in talks to sell the company in the hope of 1 billion dollars.

People familiar with the matter said the venture was in talks with ebay, but the status of the negotiations was still unknown. It was reported in June this year that the company plans to finance its 1.2 billion dollar valuation.

Fancy CEO Chow Einhorn Joe Einhorn did not comment. Ebay spokeswoman Amanda Miller Amanda Miller said the company would not comment on rumours.

Fancy, based in the United States, raised $53 million from American Express, billionaire Bravatnik Len Blavatnik and actor Ville Smith Smith last year at a 600 million dollar valuation. People close to the situation said the company was in talks with strategic acquirers after months of seeking financing with higher valuations.

Fancy, formerly known as Thing Daemon, specializes in selling a variety of luxury amenities, such as a 9-dollar waterproof lamp for cocktails, 205-dollar magnetic hangers and a 120-dollar bird-feeding device. When users like a product, they can buy or click the "Fancy" button to make it more exposed on the site. Users do not have to leave the fancy site to complete the shopping.

Devin Wenig, Dewin Winnig President of ebay market operations, said in an interview last July that the company expects an integration in the E-commerce market. "In the United States, the creation of E-commerce is not difficult, difficult is how to do large-scale." "He said at the time. (PEI)