Apple is reportedly in talks to acquire The Fancy (http://www.thefancy.com), a fast-growing social commerce site backed by cofounders of Twitter and Facebook, reports "Business Insider."

The objective is "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," the article adds. For more info go to http://macte.ch/TjTf9 .

Here's how The Fancy site describes itself: "Fancy is part store, blog, magazine and wishlist. It's a place to discover great stuff, to curate a collection of things you love, to get updates on your favorite brands and stores and to share your discoveries. Use it to create a catalog of your favorite things around the web and around the world. When you find something you love somewhere on the web, Fancy it."