Technology giant, Apple has acquired New York-based startup company, The Fancy, a move that will allow the company to expand its presence in the e-commerce segment significantly.
The Fancy allows users to make wish-lists of things and also lets them buy some of the items that are available on the sites. The website takes a ten per cent share from the price. With the acquisition, Apple will be able to offer many more products to its customers besides applications and accessories, through its iTunes and Apple stores.
Experts say that the users of Apple services like iTunes and Apple's App Store are known to shop for songs or apps that are priced low. Many apps and games at the online stores from Apple are cost less than a dollar and thus the users might be hesitant to make purchases involving larger amount of money.
However, some believe that it will be easy for Apple to move into the e-comemrce market with a loyal fan base, who will be ready to shell out money for expensive Apple products.
The Fancy has 20 employees and it generates $10,000 USD a day in sales from products promoted on its network.