Toronto’s Slyce – an App Building Company with a VisionSeptember 17, 2015 - Author: steph - No Comments
The marketing technology periscope is up with an eye on “visual search and recognition purchasing,” thanks to a new Toronto-based company, Slyce, a visual image technology builder. Slyce owns a mobile app that can provide product details on slyce.it and cost by image recognition – no labels or branding – point and click. Smartphone users can quickly make “button tap purchases.”
This did not start with an initial business decision to acquire BuyCode, a Tel Aviv app building company, for $5 Million, which includes ownership of Ponce, the mobile app ‘visual’; Slyce was well on the way to developing a product with similar capability. However, timing created the ideal business decision. Ponce, already perfected, will reduce some current and on-track development by Slyce of a consumer facing app that identifies, via smartphone, shopping for retailer deals, print ads and catalogs. The acquisition also includes a talented team of Tel-Aviv developers.
Slyce is raising funding and a retailer base to use this technology, similar but more technologically developed than Amazon’s Fire Phone and Amazon’s Flow. Amazon’s visual recognition app, its Fire Phone, gives a consumer the advantage of pointing and snapping an image of a product that will engage an online Amazon search/buy. Amazon’s Flow is another visual recognition app that has sophisticated scanning ability on a smartphone. Flow identifies items and stores them, from book covers to product packages. It has the capability of scanning business cards, phone numbers and URLs that can be dialed and/or added to contacts.
Slyce is on target in pioneering and cultivating visual search technology which gives Slyce a commanding lead in the industry. It is the “image of the future.” Visual searching by simply identifying an item, wherever it is, and not having to supply (say) a logo, packaging, OCR or other visual cues is a considerable advantage for Slyce, retailers and consumers.