TORONTO, ONTARIO--(Marketwired - April 17, 2015) -
Editors Note: There are two photos and a video associated with this press release.
SnipSnap, a division of visual search leader Slyce Inc. (TSX VENTURE:SLC), today announced an exclusive partnership with leading proximity marketing company Signal360. As part of this agreement, the Signal360 SDK will be the exclusive proximity marketing SDK integrated in the SnipSnap mobile application which has over 4 million active users. As part of the agreement, Signal360 will exclusively utilize SnipSnap's proprietary Coupon Author platform to run all of their future, coupon-based client campaigns.
Signal360 will now be able to offer shoppers the ability to snap a picture of any item they like in the real-world and the next time they walk into a store, be notified via their smartphone where the item is and be provided with a digital coupon to instantly purchase it. This, along with numerous other use cases, is made possible through integrating the Slyce technologies.
The deal will see Slyce derive revenue in line with its current business model from the proximity marketing partnership and the parties will also share additional revenues derived from all proximity marketing campaigns delivered through the partnership.
"With over 4 million users already utilizing our App in stores, we provide an exceptionally rare and valuable asset for brands and retailers looking to engage with customers directly as they come into contact with their products," said Slyce CEO, Mark Elfenbein.
New York based Signal360 is the leader in the proximity marketing industry and supports multiple Fortune 100 & 500 customers via its platform of proprietary beacons, an SDK that supports both patented audio and BLE signals, and a comprehensive CMS.
"Signal360 was the first beacon partner integrated into the SnipSnap app and after developing a wonderful working relationship with them over the last year and having great visibility to their superior offering in the market, forming an exclusive relationship was a natural next step," said SnipSnap President Ted Mann. "This type of targeted marketing allows brands to engage with consumers in a highly-meaningful and valuable way and this leads to extremely high transaction rates on offers. In test campaigns, we have commonly seen double the conversion rates when beacon-based targeting and messaging is employed. We're very excited to continue innovating in what is a new and thriving area for brand marketers and to be deepening our relationship with an industry-leading provider in Signal360."
Signal360 CEO Alex Bell said, "We are constantly looking for ways to reimagine the space. While native Apps are appropriate in many instances, we have found that offering a turnkey solution that does not require native app integration is necessary in the marketplace. Ted and the SnipSnap team have been strong partners for Signal360 for over a year and we are excited to evolve this partnership in such a meaningful way."
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 physical 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.
About SnipSnap
SnipSnap is the first mobile coupon App to allow users to scan and redeem any printed coupon on their smartphone. Since launching at Techcrunch Disrupt in 2012, the App has grown to 4 million users on iOS and Android, who have saved more than 100 million coupons and $200 million. 50+ retailers have partnered with SnipSnap to deliver targeted coupons via the App or utilizing SnipSnap's Coupon Author platform. The company was created at DreamIt Ventures accelerator program, participated in the Philadelphia Inquirer's Project Liberty Incubator, and is based in Philadelphia. SnipSnap is a wholly owned subsidiary of visual search leader Slyce Inc. (TSX VENTURE:SLC).
About Signal360
Signal360 is the leader in the proximity marketing industry and offers a complete proximity platform including hardware, integrated content creation, CRM connection, targeting, business analytics and more. The enterprise grade solution allows clients to identify who is in their space, how long they have been there, if they have been there before, & most important, to influence their customers' decisions at a specific moment in time. Signal360 proprietary beacons reach over 90% of smartphones & tablets, in any state, using patented inaudible audio technology combined with Apple certified iBeacon capabilities for iOS and Bluetooth Low Energy capabilities for Android. Signal360 is the only company in the industry able to reach smartphones that have Bluetooth turned on or off. Signal360 has corporate offices in the Flatiron neighborhood in NYC and has been delivering proximity marketing to smartphones and tablets since 2011.
READER ADVISORY
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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 and ongoing corporate strategy. 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.
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