Joseph Einhorn

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Joseph Einhorn
Born
OccupationCEO of Fancy

Joseph Einhorn is an entrepreneur and businessperson who is best known as the founder and CEO of the company Fancy, a social e-commerce platform.[1][2][3] Fancy describes itself as "part store, blog, magazine and wish list," and Einhorn has said that it seeks to redefine the shopping experience.[1][2] Fancy was valued at $600 million by American Express, Billionaire Len Blavatnik, Actor Will Smith and other investors on July 3, 2013.[4][5] In February 2015, Einhorn's company Fancy raised a $20 million Series D strategic funding round which was led by Mexico's Carlos Slim Domit and the CCC holding company.[6]

Biography[edit]

Einhorn was born in New York City, NY, and turned 30 years old in 2012.[1] He is married with two sons and two Chihuahuas.[1][7]

Drake and Joe Einhorn

Einhorn became involved in the startup world at age 16, when he became the first employee of Capital IQ, a corporate information service.[1] In 2004, he co-founded and served as CTO of Inform Technologies, LLC, which connected related content across online media and information companies.[8] In 2009, Einhorn founded the social e-commerce platform Fancy.[1][9]

Einhorn is a fan of rap music – especially by the artist Drake – and has said that Kanye West's blog influenced Fancy's website.[10] Einhorn has also been a personal user and supporter of Google Glass, leading to his company's Google Glass app that suggests items based on colors the user is looking at.[9]

Fancy[edit]

Einhorn founded Fancy in 2009.[9] He has described his company as a service that "combines the best features of Pinterest with the traditional Amazon experience," creating an image-centric e-commerce platform where users set the trends by posting items they 'fancy.'[2][3][11] In a 2012 interview with Hypebeast, Einhorn said that Fancy seeks to become "the new Amazon.com" by creating a social e-commerce platform where users can interact with one another to explore, discover, and purchase items.[1]

Fancy is distinctly different from sites like Pinterest in that it offers merchants the ability to sell items directly to consumers. In order to sell on Fancy, a merchant needs to 'claim' an item that users have already posted. Fancy takes a commission fee from each sale.[4][11]

Fancy has attracted a number of well-known backers and board members, including American Express, Francois-Henri Pinault, Len Blavatnik, Will Smith, Jack Dorsey of Twitter, and Chris Hughes of Facebook.[1][2][4] High-profile users include Mark Zuckerberg and Kanye West, who has been an outspoken supporter of the site.[4][12]

In September 2013 Einhorn secured an investment round of $7 million for Fancy from, among others, Richard C. Perry, owner of Barneys New York, and his son David Perry.[13] In February 2015, Fancy raised a $20 million Series D strategic funding round which was led by Mexico's Carlos Slim Domit and the CCC holding company.[6] Fancy noted that it would use the funding to "continue to build out its technology platform and execute on new key strategic partnerships”.[6]

Recognition[edit]

  • Crain's New York Business listed Einhorn as one of the 40 most successful entrepreneurs under the age of 40 for 2014.[14]
  • Business of Fashion named Einhorn in its list of 500 People Shaping the Global Fashion Industry.[15]
  • Business Insider ranked Einhorn at #32 in its Silicon Alley 100 list of the Coolest People in New York Tech.[16]

References[edit]

  1. ^ a b c d e f g h Hypebeast Trade: Joseph Einhorn Founder of TheFancy.com, Hypebeast, 2012, retrieved July 21, 2013
  2. ^ a b c d Neate, Rupert (July 8, 2013), Crowdsourced shopping site Fancy attracts £36m in funding, London: The Guardian, retrieved July 21, 2013
  3. ^ a b Deutscher, Maria (2013), Fancy Follows Fab's Lead, Attracts More Celeb Support for New Age Retail, Silicon ANGLE, retrieved July 21, 2013
  4. ^ a b c d Huff, Steve (2012), The Fancy–Kind of Like Pinterest But All About the Money, BetaBeat, retrieved July 21, 2013
  5. ^ Joe Einhorn, General Catalyst Partners, retrieved July 21, 2013
  6. ^ a b c Social Commerce Site Fancy Raises Around $20M In Series D Led By Carlos Slim Jr And Japan’s CCC, TechCrunch, retrieved February 24, 2015
  7. ^ Ten Questions: Joseph Einhorn, Elle, 2013, retrieved July 21, 2013
  8. ^ Company Overview of Inform Technologies, Inc., Bloomberg Businessweek, 2013, retrieved July 21, 2013
  9. ^ a b c Fancy Founder Sees Future Through Google Glass, Pymnts, 2013, retrieved July 21, 2013[permanent dead link]
  10. ^ Pasori, Cedar (2012), Interview: Joseph Einhorn, Founder Of The Fancy, Complex Art+Design, retrieved July 21, 2013
  11. ^ a b Morrow, Eric (2012), CNET Q&A with Fancy Founder Joe Einhorn, CNET via Daily Deal Media, retrieved July 21, 2013
  12. ^ Tiku, Nitasha (2012), Kanye West Is Advising NYC Startup The Fancy on the Future of Commerce, BetaBeat, retrieved July 21, 2013
  13. ^ Vikram Alexei Kansara (September 9, 2013), The Fancy Raises Additional Funding From Owner of Barneys New York, Business of Fashion, retrieved September 30, 2013
  14. ^ Crain's New York Business 40 under 40, Crain's New York Business, retrieved April 11, 2014
  15. ^ BoF 500: The People Shaping the Global Fashion Industry, Business of Fashion, retrieved April 11, 2014
  16. ^ SA 100 2013: The Coolest People in New York Tech, Business Insider, retrieved April 11, 2014