Social Power trader the fancy 53 million dollars in investment

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Sina Science and technology news Beijing time of July 9, according to foreign media reports, social power quotient of the fancy new 53 million U.S. dollars investment, investors include the famous movie star would Smith, American Express and Ukrainian billionaire Leine Bravatnik (Len Blavatnik).

The fancy's valuation has reached $600 million trillion after the current round of funding, according to people familiar with the matter. The fancy is a platform for users to share and buy all kinds of goods they like (fancy means "like"), in which the most popular picture of the product will be automatically set up, fancy will receive a 10% per transaction fee.

The fancy submitted its latest round of funding reports to the SEC in Friday, but did not disclose information about investors. People familiar with the matter said in Monday that investors included the movie star Smith and American Express. The fancy declined to comment on the news.

Joe Einhorn, the founder of the Fancy, describes the site as a dimension in which users show their personalities. "The core of Facebook is the people who are focused on and the photos they share, and the core of our site is the items that users focus on and want to buy," he says. He also pointed out: "Consumers determine the trend of consumption, the community is built on the core of goods, so that businessmen or brand companies to make the right sales decisions." On this site, users are not focusing on people they already know in life, but meeting new friends and discovering new things. ”

Einhorn, who started his business since he was 16 years old, said in a media interview that the Fancy could be viewed in terms of Amazon. "Amazon is doing well, but the difference between us and Amazon is that we think search has become a more outdated business model, and the discovery model we're trying to find is a new paradigm," he says. ”