Apple Looking To Social Networking?
by Matt Tennison,
09 Aug 2012
Various reports are suggesting that we may see Apple jump into the social network world to help boost business. Given that Facebook is worth in excess of $44 billion, social media is big business, and it'd make sense for Apple to look into it.
It's unlikely that Apple will try and start its own social network from scratch, but rather invest or take over a small startup. For instance, many reports have been made that Apple is seeking to purchase The Fancy, a site that is similar to Pinterest but focuses on desirable items. The Fancy offers various deals on high-quality item through third parties, taking a 10% commission.
The New York Times even reported that Apple might take over Twitter. This seems unlikely though: Apple wouldn't be able to make too big of a change to the site, for it is already established and profits would be slim, given Twitter's poor success at turning users into revenue for the site.
According to eCommerceTimes.com, many feel that a takeover of The Fancy would be the best option for Apple - it's small, meaning that acquisition would be relatively cheap and therefore low risk, it has photo sharing built in, which Apple is very keen on, and given that Apple already has the information for 400 million credit cards, most users wouldn't need to jump through many hoops to begin buying items. It's also a very profitable idea - unlike others that make money off advertising, this makes money through direct sales.
Matt is a technology enthusiast, particularly surrounding smartphones and Apple products. Living in the UK, Matt passionately follows all of the latest news on Apple from across the globe.