Apple reportedly wants to buy Pinterest rival The Fancy

Apple reportedly wants to buy Pinterest rival The Fancy

Reports this weekend claim Apple is interested in snapping-up the fast-rising, well-backed Pinterest rival The Fancy.

Business Insider claims Apple is already in talks with the company, backed by the co-founders of Twitter and Facebook.

Apple wants to, according to the report, claim a larger stake in the e-commerce market and make use of those 400m+ credit cards it has on file through iTunes.

The $100m-valued The Fancy is different to Pinterest in that it links people to thinks they'd like to buy and then takes a cut of any sales.

Meeting with Cook

The Fancy's CEO Joe Einhorn reportedly met with Apple CEO Tim Cook earlier this year and the Cupertino boss is now an active user on The Fancy.

Business Insider says it has no indication if and when a deal will be finalised, or how much of its massive cash stockpile it would be willing to splash on The Fancy.

The reports come a week after the New York Times claimed Apple was interested in spending hundreds of millions of dollars' to take a stake in Twitter.

Via: Business Insider