Slyce provides image recognition tech for Shopper app
Ticker Symbol: C:SLC
Slyce provides image recognition tech for Shopper app
Slyce Inc (C:SLC)
Shares Issued 108,809,225
Last Close 1/5/2015 $0.88
Tuesday January 06 2015 - News Release
Mr. Mark Elfenbein reports
POWERED BY SLYCE, PURCHASE DECISION NETWORK DEBUTS FIRST EVER VISUAL SEARCH APPLICATION FOR GROCERY RETAIL LAUNCHING "SNAP2ADD" IN LEADING "SHOPPER" APP
Slyce Inc. has integrated its image recognition platform for grocery retailing within Purchase Decision Network's leading grocery list creation app Shopper. The "Snap2Add" functionality enables over 1.75 million users of "Shopper" to snap photos of grocery products around their home - including non-packaged items such as fruit and vegetables - and have them recognized and immediately added to their mobile shopping lists where they can instantly ensure product availability, achieve best pricing and automatically access coupon offers. Creation of highly-targeted advertising network for CPG advertisers"Snap2Add" is a first-of-its-kind, grocery-based image recognition application in the market and will seek to eventually replace existing technologies such as complex barcode-scanning altogether. It also creates a highly-targeted sponsored advertising network for CPG advertisers. As an example, brand sponsorships would allow brands to appear throughout a targeted users' entire experience or, alternatively, repeatedly appear as one of the listings for a relevant food category. Slyce will collect data on shopping preferences and product trends. Revenue to Slyce from the application is designed to be generated through targeted ad units, localized offers (couponing), affiliate product purchases, and BIG Data analytics.PDN currently powers 10 million shopping trips by over 2 million shoppers monthly across the different shopping experiences provided by its publishing partners. Slyce and PDN will share in all monetization vehicles around the integration. PDN is also expected to heavily promote the availability of the visual search functionality to other 3rd party shopping apps within its network. The Slyce grocery recognition functionality will be made available for integration into other branded grocery retailer apps.Slyce CEO Mark Elfenbein said, "We're incredibly excited to launch this latest implementation of our visual search technology. Within Shopper, Slyce and PDN have created an innovative and intuitive way for consumers to create mobile shopping lists while in their homes or out in the real world. It also presents significant opportunities for CPG companies and advertisers to reach shoppers at the exact moment of purchase intent."Sean Flynn CEO of PDN said "Snap2Add is really a new way to build mobile lists that is quicker and appeals to a more picture-oriented consumer. My daughter was able to build our weekly shopping list as you can see in the video. And she loved doing it!"The white label Slyce visual search technology for grocery retail will be debuted at NRF's Retail's BIG Show in New York City which runs from 21-23 January.To download shopper, visit - www.myshopperapp.com
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