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On The Web

Social commerce startup The Fancy reportedly has another $7 million in the bank. According to The Business of Fashion, the Pinterest rival has raised new money from a group of investors including hedge fund manager Richard C. Perry, the majority owner of luxury retailer Barneys New York. In July, the startup was said to have raised $53 million at a $600 million valuation.

 

On The Web

Tech CEOS in search of inspiration when it comes to digital marketing and community building might want to look outside the Valley — and across the pond. In the Business of Fashion, Burberry CEO Angela Ahrendts talks about how the company uses digital media to reach new consumers and create a “connected culture.”

In Brief

Greylock Partners is stepping up its investment in online marketplaces. In a blog post on Thursday, the venture capital firm not only said that it was committing $100 million to continue to invest in marketplaces, but promoted entrepreneur-in-residence Simon Rothman to partner. In that position, Rothman will focus on startups building marketplaces, other network effects businesses and transaction-based startups, Greylock said.

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