It’s been a crueling 12 days since Slyce Inc. announced they signed a contract with a mystery Fortune Top 50 company. Who do you think it is? We have a guess and can’t wait to see if we’re right. Only time will tell.
Visual product search platform Slyce Inc. (TSX VENTURE:SLC) (“Slyce“) today announced a signed contract with a preeminent North American Fortune Top 50 company to commence powering visual search across its mobile commerce platform.
The deployment will enable users of the company’s smartphone application to snap images of over 1.3MM products in the real-world and receive direct or close-matching items which they can purchase with one click.
Slyce will derive initial revenues from the contract through monthly recurring software licensing fees with potential for additional revenue streams, in line with their current business model, over time.
Slyce CEO Mark Elfenbein said of the announcement, “Having Slyce be selected as the supplier of mobile visual product search for a company of this stature is a significant validation of the Slyce technology.”
Integration of the Slyce technology has already commenced and launch and full roll-out of the service is expected in Q2 of calendar 2015.
About Slyce Inc
The Corporation is a visual search technology company based in Toronto, Ontario and is engaged in the business of providing advanced visual search software that allows consumers to purchase products at the moment they discover them – in the real world and online. Slyce powers mobile visual search for several leading retailers including Neiman Marcus and Tilly’s.
Slyce has developed an advanced visual search platform that integrates with retail brands and digital content providers to give their customers the ability to instantly discover and purchase products that inspire them by simply snapping photographs with their smartphones or ‘clicking’ images on either their smartphones (mobiles) or desktop web browsers.
Slyce’s strategy is to position itself as a pivotal player in the emerging visual web. Slyce will provide its technology to retailers, brands, app developers and digital publishers, enabling their apps to recognize products for instant purchase. Slyce will provide its technology in exchange for integration, licensing and per search fees, percentage sales splits and big data provision and analysis. Slyce is currently working with a growing list of fortune 1000 brands and companies as well as multiple innovative developers.