Content and image curation site TheFancy was created in 2009 by Joseph Einhorn. The site describes itself as equal parts wish list, store, and magazine and has been growing quickly since its launch, despite the emergence of competitors like Pinterest and Wanelo. Even though Pinterest is the most well-known in the market, The Guardian recently reported that the Einhorn’s site is now valued at $600 million, thanks to new investors including Will Smith and American Express who have helped the site raise $53 million.
Fancy is similar to and different from Pinterest and Wanelo in a variety of ways. While all sites focus on allowing users to save groups of images in separate lists, albums, or boards, only Wanelo and Fancy make it a priority to link the image to the product description page where it can be purchased. Einhorn’s site also allows you to purchase some items directly through the site, using Google Wallet. Otherwise, when you click on “Buy It” next to the item, it redirects you to where you can purchase the item.
Another unique aspect of Fancy that sets it apart from Pinterest and Wanelo (and sets it up to be an even bigger e-commerce competitor) is that it sells celebrity-curated monthly subscription boxes. Celebrities from Pink to Ashton Kutcher have curated boxes for the site, which includes the star’s favorite products. Besides the celebrity boxes, users can also subscribe to the site’s standard box for $39 per month. You can choose which category of items you’d like them to include, from Women’s to Workplace, selecting multiple at a time. The total value of all products sent each month is usually much more than the $39 rate, and subscribers don’t know what is in their box each month until they receive it. Sites like PopSugar have moved into the subscription box industry lately, bolstering this emerging trend.
The site’s celebrity ties and investors definitely showcases its potential and the buy-in people have in its product. According to Bloomberg, other board members and investors include Jack Dorsey, the founder of Twitter, and Francois-Henri Pinault, the chairman of Kering. The Guardian article also reports that Fancy currently generates approximately $3 million in revenue monthly, making it one of New York City’s most profitable recent start-ups. While future plans for this start-up aren’t immediately known, it will be interesting to watch who else comes onboard and what new offerings catch on as this site holds its own in this creative marketplace.
Image courtesy of SXC