TORONTO, CANADA--(Marketwired - March 6, 2015) -
Editors Note: There is a video associated with this press release.
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.
Slyce is also listed on the Frankfurt exchange trading under (FRANKFURT:06O1)
For image download and further company information please click for the Slyce Media Kit
READER ADVISORY
The TSX-V has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Statements in this press release contain forward-looking information including, without limitation, Slyce's business plan, strategy and related milestones, Slyce's suggestions of future outcomes, the future use and development of its technology, future customers and business partners, timing and completion of the Amalgamation, the Offering and ongoing corporate strategy and benefits of the Amalgamation. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Slyce.
Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.
Slyce does not undertake any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.
None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
To view the video associated with this press release, please visit the following link: https://www.youtube.com/watch?v=cJupFMy9Ugg