Report: Social E-Commerce Site Fancy Is Raising Money At A $1.2 Billion Valuation

Jillian D'OnfroJun 28, 2014, 00:50 IST

The Fancy

The social ecommerce site Fancy is trying to raise a new round of funding with a valuation that could be as high as $1.2 billion, a source told Bloomberg.

The person said an investment would double the value of the company since July.

The company last raised money in September 2013: $7 million from investors Richard and David Perry. CrunchBase lists Fancy's total prior funding at $78 million, but Bloomberg's source said that it has raised $53 million total.

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Earlier this year, Fancy launched a new "Storefront" feature to let merchants create their own shops. It's sort of like Etsy. When Business Insider talked to CEO Joe Einhorn in March, he said that the company's international market is growing fast and that it now offers same-day delivery in more than 100 cities around the world.

Business Insider reached out to Einhorn for comment.

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Report: Social E-Commerce Site Fancy Is Raising Money At A $1.2 Billion Valuation