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Summary:

Fancy, a social discovery and shopping site that competes with Pinterest, has raised $26.4 million according to a new filing with American Express vice chairman Ed Gillespie joining the board of Thing Daemon, the company behind Fancy.

Fancy, Joe Einhorn
photo: GigaOM

Fancy, the Pinterest rival that lets people buy directly from its website, is gearing up for some big business with a new $26.4 million fundraising round, according to an SEC filing Monday. It’s unclear who is exactly participating in the round, though American Express vice chairman Ed Gilligan is listed as new board member.

Fancy has had no shortage of big-name backers, including Twitter and Square founder Jack Dorsey, Facebook co-founder Chris Hughes and French luxury conglomerate PPR. And, if American Express is on board, it would be mean even more momentum for the social shopping and discovery site. Michael Silverman, COO of Thing Daemon, the company behind Fancy, declined to comment, saying CEO and founder Joe Einhorn was in an evacuation zone because of Hurricane Sandy.

Fancy launched in February, giving people the ability to “fancy” items that they like, similar to the way people pin products on Pinterest. But Fancy’s special sauce is its trove of product data, which it matches to fancied items. Fancy then lets users buy many of the products directly through its website.

The site has been rumored to be a possible acquisition target for Apple. Facebook’s CEO Mark Zuckerberg also became a user in June. But with the new funding, it looks like Fancy is set on staying independent at least for the near future. The company raised $10 million last year and previously raised $6 million in 2010.

Here’s a video we did with Einhorn when Fancy launched in February:

  1. Pinterest still needs an API to build an ecosystem. http://blog.cobia.net/cobiacomm/2012/04/04/pinterest-api-and-the-money-board/

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  2. Further validation of social commerce. We are excited to launch Flash Purchase shortly which will provide an entirely new social commerce platform allowing users to create deals, join others and share them. This translates into consumers banding together to purchase items that meet their specifications while gaining the benefits of volume purchasing. Sellers can also create their own deals or bid on group deals created by buyers with the end result of them obtaining large groups of consumers in a single transaction.

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