Articulate About Making Money, Joseph Einhorn Is An Internet Entrepreneur!
There are few Internet sites where the sole, unabashed purpose of the site is to make money. For sure, virtually every business on the Internet is there to try to make money, but most try to offer customers a product or service or otherwise disguise the fact that they are making money off your visiting their site. Many websites take an approach similar to Facebook, where they focus on the experience of the site, as opposed to how the company will make money off it. At the other end of the spectrum is Joseph Einhorn.
Joseph Einhorn is the CEO of Fancy. Much the way that Viddy is like Twitter with videos, Fancy is like Pinterest for shoppers. Fancy’s whole purpose is to make money and Einhorn is unabashed in his desire to become a premiere shopping site on the Internet. In fact, while Pinterest has focused on creating a viable, photograph-based social network – and encouraging growth in the social network aspect of the site, Joseph Einhorn has rushed to monetize Fancy.
Fancy has long been behind Pinterest in terms of subscribers or press, but that changed abruptly earlier this year. In late February, Einhorn announced the model for monetizing Fancy and the story suddenly became how Fancy had leapt ahead of Pinterest as a destination site. Joseph Einhorn effectively repackaged shopping to Internet users who viewed Fancy as a somewhat more macho version of Pinterest. But by making it possible to shop for items one sees in the photographs they put on their Fancy page, Einhorn is re-engaging this highly coveted female demographic that dominates Pinterest. After all, women are great consumers and love the act of shopping (even online), so combining the bright fun photographs of a photo-based social network with the thrill of shopping made a lot of sense to Joseph Einhorn.
That Joseph Einhorn monetized Fancy so fast and made the photo-based website into a shopping site is ultimately unsurprising. Long considered an entrepreneur, Fancy represents Einhorn’s third startup business. Following closely on the heels of his Thingsd company, Fancy is poised to be the twenty-nine year-old’s big success story. As the first employee of CapitalIQ, Joseph Einhorn was schooled in how venture capital and startups work, giving him an edge over many who are trying to get into the tough Internet shopping marketplace.
By leaping forward with monetizing Fancy, Joseph Einhorn illustrates that he has the willpower to try daring new ideas and risk his own business venture to prove his business theories. One suspects it will not take long before his idea is proven to be a good one!
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