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Recently Slyce Inc, one of the leading image recognition platforms released their financial results for the year. Slyce acts as a powerful sales channel for retailers and their customers. Consumers contact retailers by taking photos of products using their mobile devices. This gives Slyce near instant capability. Slyce’s technology is used as a white label search platforms. Slyce is used by brands such as Neiman Marcus and Home Depot. Slyce’s business model has a number of different revenue streams, such as integration, licensing and purchase transactions.
Slyce announced a collaboration with rapidly growing online footwear retailer SHOES.COM. Slyce’s image recognition helps mobile visitors snap pictures of women’s footwear with the option to quickly purchase. Slyce is helping Neiman Marcus by allowing shoppers to take images of different images and receive matching items from Neiman Marcus. Slyce will also start working with urban outfitters to help with their mobile commerce.
Slyce decided to end its short term offering and instead use private financing thanks to a lead investor. Slyce is currently accepting subscriptions from that investor, among others. Slyce has developed a system to create easy on boarding by shortening the integration efforts mandatory for new customers.
Slyce is using a universal scanner to provide a camera interface for different detection. This will allow clients to add object scanning to their websites. Slyce Link was created as a visual product recommendation system that increases shopping conversations on websites. Retailers can also show their products to customers at beneficial points.
Slyce also launched Coupon Author; a coupon management platform. Coupon Author helps retailers make coupons to be redeemed through mobile devices, as well as distribute them. Retailers can use Coupon Author to introduce special offers to customers.
Slyce is working to refine their sales process and secure additional financing in the coming months.