Apple to buy social network: report

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Apple to buy social network: report

Apple is reportedly eyeing off photo-based social networking site The Fancy as part of a play into the ecommerce market.

According to Business Insider, the move would a bigger opportunity for Apple to get more cash off the 400 million credit cards it already has on file, via its iTunes store. 

The two-year old, 20-strong company takes 10 percent of all purchases on its site.

Neither Apple or The Fancy have commented on the report.

[Via Business Insider]

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