Fancy, the more-macho, more e-commerce focused competitor of Pinterest, has raised $53 million from a murderer’s row of investors, including Will Smith (yes…’After Earth’ Will Smith…), Chris Hughes (the New Republic and Facebook boy-king), Twitter co-founder Jack Dorsey, fashion mogul Francois-Henri Pinault (he technically owns Gucci, Sergio Rossi, Alexander McQueen and Puma through his company Kering), and American Express President Edward Gilligan, according to TechCrunch.
That puts the total company valuation at $600 million, bubbling close to the top of the increasingly-crowded “curation commerce”* heap, led by Fab. Although Fancy was one of the original innovators in the space — Kanye West has been an advisor to the company — plenty of analysts are predicting a coming shake-out.**
Fancy, meanwhile, just offered users the chance to purchase items in February, and is also experimenting with Birchbox type subscription packages. I’m tempted by their Fancy Food Box Subscription — is that Spicy Bacon Caramel Corn, I see? — although I’m a bit frustrated that I can’t actually see a full list of items before ordering.
Fancy is currently pulling in about $100,000 in sales/daily, and has almost 8 million registered users.
For comparison: Wanelo (focused more on younger girls/women) raised between $5 million and 10 million at a $100 million valuation in February, and is currently ranked above Fancy in the iTunes store. Anybody have preferences amongst this glut of quirky/cool e-commerce? Leave your thoughts in the comments.
*Fab calls it “emotional commerce,” but I want to coin “curation commerce”…any objections?
**To be clear: plenty of analysts are predicting a coming shake-out of Fab.