https://www.marketwired.com/press-release/slyce-inc-contracts-with-fortune-100-retailer-for-mobile-visual-search-technology-tsx-venture-slc-2072090.htm
Slyce Inc. Contracts with Fortune 100 Retailer for Mobile Visual Search Technology
TORONTO, ONTARIO--(Marketwired - Nov. 10, 2015) - Visual product search platform Slyce Inc. (TSX VENTURE:SLC) ("Slyce") today announced a signed contract with a Fortune 100 retailer to power visual search for mobile commerce.
The Slyce technology enables customers to snap images of products and find matching products in a retailer's online product catalog.
Slyce CEO Mark Elfenbein said of the announcement, "We're immensely excited to add another marquee retailer to our client base. This not only further demonstrates the level of demand for visual search in the market but also represents another major endorsement of our technology platform."
About Slyce Inc.
Slyce (TSX VENTURE:SLC)(FRANKFURT:06O1), based in Toronto, ON, delivers sophisticated visual search technologies and is currently focused on enabling a powerful sales channel for major retailers and their customers. Consumers, wherever they are, can conveniently engage with retailers by taking pictures of desired products using their mobile devices, thereby initiating the visual search service with near-instant product recognition capability. The Company delivers its technology both as a white-label visual search platform and as a suite of consumer mobile apps. Slyce's technology is used by large retail brands such as Neiman Marcus, Urban Outfitters, Tilly's, JCPenney and Home Depot.
Slyce's business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include fees for software licensing, integration, purchase transactions, program promotions and data analytics.