Social Shopping Network The fancy seek new financing

Tencent Science and technology news, recently, sources said, the U.S. social power platform The Fancy is currently seeking a new round of financing, the company's valuation reached 1.2 billion U.S. dollars.

The fancy is not a traditional electronic web site, but a hybrid of so-called "online stores, blogs, magazines, and wish lists." Users can post their favorite product photos on the platform, or look at other people's favorite products and buy them directly. The most popular products will be automatically placed at the top of the site. Each transaction the fancy will draw a 10% commission.

Morgan Stanley, the investment bank, will be the consultant for the fancy's current round of financing, the source said. In this round of financing, the fancy's valuation will double from last July. In last year's fundraising, the fancy, including American Express, billionaire Warren · Bravatnik (Len Blavatnik) and actor Will · Smith, had invested $53 million in the company's 600 million-dollar valuation.

Before the fancy was financed, several Internet companies had financed billions of of billions of dollars in valuations. In May this year, the photo-store Pinterest A 5 billion dollar valuation to finance $200 million, and Airbnb, the cloud storage service provider Dropbox and AOL's online home Leasing website, has financed a 10 billion dollar valuation , based on the application of the car rental service provider Uber more than 17 billion dollars in the valuation of the financing.

As of now, the fancy founder Joe · Einhorn (Joe Einhorn) and Morgan Stanley spokeswoman Mary · Claire Drani (Mary Claire Delaney) did not comment on the report.