Apple Getting ‘Fancy’ with Social Media?

Apple Getting Fancy with Social Media 300x289 Apple Getting Fancy with Social Media?According to the biggest rumor in the social media space today, Apple is said to be in talks to acquire a social network.

For Apple, such a move would be the company’s second attempt to go social.

Ping – the social media service launched and operated by the tech giant – is definitely on the short list of Apple inventions that simply didn’t resonate with the masses.

As a result, sources close to the iPhone maker say that Apple will effectively kill the entire Ping platform in a subsequent iTunes update before 2012 comes to a close.

In its place? Fancy – an upstart social commerce site supported by the co-founders of Twitter and Facebook, Business Insider reported late Wednesday.

The objective: to secure a role for Apple in the growing e-commerce market, putting the 400 million-plus users with credit cards on file with Apple’s iTunes Store to work shopping—with Apple getting a cut of the action.

According to the original report, there is no signed deal and no guarantee that a deal will happen.

But the rumor mill suggests it’s happening. Stay tuned.

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