Slyce is a unique platform that offers customers with the rare opportunity to capture images for visual search and make an instant purchase from the search results. The platform provides a point of interest platform that uniquely allows users to identify an object when they see it by the use of audio, video, and visual recognition. Once the item is scanned, customers can purchase it online using their mobile phones. Another unique thing about the platform is the fact that users can share their discoveries on social media and receive incentives when a friend buys through the link.
Slyce has also acquired Pounce, a Tel-Aviv based company that allows users to get the best deals from retailers and also print catalogs and ads from the smartphone. The acquisition was worth $5 million and was paid in cash, shares as well as earn-out incentives. Slyce’s users were also set to benefit from Pounce’s technology. Founded in the same year as Slyce, Pounce was BuyCode’s main product. Initially, it was used to tackle all hard aspects related to mobile shopping as well as the checkout process.
Instead of going after e-commerce website integrations, Pounce went after retailers and other third parties to link their inventory with photos as well as pricing information. At the end of the day, an app that allowed customers scan and make purchases was born. Since the retailer’s platforms involved in making the sales happen, the experience was not entirely an e-commerce one. According to Slyce, Pounce is a good asset based on the fact that it has an advanced technology that allows customers to checkout from different platforms without having to enter their payment information many times.
In the meantime, the app is considering developing a phenomenal mobile image shopping platform that will allow users from different places in the world to do shopping from any retailer from any part of the world provided their inventory is on the platform. Retailers who have integrated their inventory with the app’s technology have been able to experience better sales because customers make purchases from anywhere provided the item searched is found.
At the end of the day, the company experiences better sales without having to use a lot of resources in labor and marketing. On the other hand, customers experience effortless shopping because they do not have to do shopping the traditional way. There is no more long lines in the shopping malls. At the end of the day, what is imperative is service delivery that goes in tandem with the customer’s budget while at the same time offering convenience. Slyce has and will continue providing shoppers with more phenomenal image recognition technologies that will make it even much easier to shop online conveniently any time. So far so good, the company has not disappointed at the same.