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Report: Social E-Commerce Site Fancy Is Trying To Sell Itself For $1 Billion

Jillian D'OnfroSep 6, 2014, 01:00 IST

The social ecommerce site Fancy is trying to sell itself to eBay for about $1 billion after failing to raise a new round of financing, a source told Bloomberg.

The company was reportedly trying to raise at a valuation of $1.2 billion in June, but apparently struggled to drum up enough interest at the high valuation. Bloomberg reports that the status of the talks with eBay is unclear.

The company last raised money in September 2013: $7 million from investors Richard and David Perry as part of a $53 million Series C, at a valuation of $600 million.

All Things D reported in 2013 that about a third of Fancy's Series C was going directly to the "executive officers, directors or promoters" of the company.

Business Insider reached out to Fancy CEO Joe Einhorn for comment.