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Slyce Inc.
Company typePrivate
IndustryVisual search recognition technology
Founders
  • Cameron Chell
  • Erika Racicot, COO
  • Mark Elfenbein, CEO
Headquarters
Philadelphia, Pennsylvania
,
USA
Area served
International
Key people
Ted Mann, CEO
Products
Services
  • Visual Relevancy Engine
  • Tag and Display
Websiteslyce.it

Slyce Inc. is a visual search and recognition company headquartered in Philadelphia, Pennsylvania, with operations in New Waterford, Nova Scotia. The company developed image recognition technology that can identify products based on a picture and allow the user to purchase the item on their smartphone.[1] The company has partnered with a number of retailers in the United States and Europe to operate its technology inside their mobile applications,[2][3][4] including Neiman Marcus,[5] Best Buy,[6] and Home Depot.[7] The company also operates two other mobile apps, Craves,[8] and SnipSnap.[9]

Slyce traded publicly on the TSX Venture Exchange market.[2] In January 2017, its assets were acquired by Anzu Partners, a venture capital firm, for an undisclosed sum, and taken private.[10]

History

[edit]

Slyce was founded by Cameron Chell and Erika Racicot[11] in January 2012 through their business consulting firm that they founded together, Business Instincts.[12][13][14] The company was originally located in Calgary, Alberta, but later moved the headquarters to Toronto, Ontario, with additional offices in Calgary, New Waterford, Nova Scotia and Minneapolis, Minnesota.[15]

By early 2014, Mark Elfenbein was the president and CEO of Slyce [16] and generated $10.75 million in its Series A round of funding.,[17][18][19] followed by an additional $12 million Series B round of funding in 2014 [20] In April 2014, Slyce announced it was going public through an amalgamation agreement with Oculus Ventures.[18][21] Later in the year, Slyce acquired Tel Aviv-based BuyCode, a mobile app development company, for its Pounce shopping app technology.[22][23] Slyce also acquired Minneapolis app developer Drivetrain Agency.[21] After the acquisitions, Drivetrain CEO Dan Grigsby joined Slyce as chief technology officer,[2] and BuyCode CEO Avital Yachin joined as chief product officer.[22]

In April 2016, Ted Mann, President of Slyce's Consumer App Group, and former founder and CEO of SnipSnap, took over as Slyce's CEO.[24] In January, 2017, the company's assets were acquired by Anzu Partners, a venture capital firm, for an undisclosed sum, the company was taken private,[10] and its headquarters was officially moved to Philadelphia.

In November 2020, Slyce has partnered with Catchoom and Humai. This collaboration is to provide solutions for retail environments.[25]

Platform

[edit]

Slyce develops visual search and recognition technology for larger retailers to use on their brand's websites and mobile applications.[19] The company works with six of the top 20 retailers in the United States,[26][27] including Neiman Marcus.[28][29] The visual search technology that Slyce developed uses pictures of products to determine what kind of product it is and then analyzes the subject based on a schema according to the type of product and its attributes. Slyce is often referred to as "The Shazam for shopping."[19][30][31]

Products

[edit]

Slyce has produced several products and services, including the Snap-to-Buy product recognition platform. Snap-to-Buy can be integrated into a retailer's existing website to identify products. The application takes the user to the website to purchase identified products.[4][22] Slyce has also developed visual search recognition technology, such as the Visual Relevancy Engine, which compares the attributes of a product and delivers products that are similar, and a service that can identify products from pictures on social media sites like Facebook or Instagram.[31][32]

References

[edit]
  1. ^ Erika Racicot (16 December 2013). "Slyce's visual search platform cuts down on the steps from see-to-buy for retailers". StartUp Beat. Retrieved 2 January 2015.
  2. ^ a b c Katharine Grayson (21 October 2014). "App developer Drivetrain sold to image-based shopping tech company Slyce". Minneapolis/St. Paul Business Journal. Retrieved 2 January 2015.
  3. ^ Ronald Barba (7 April 2014). "Can Slyce Take Down Amazon Flow in Image Recognition Shopping?". Tech Cocktail. Retrieved 2 January 2015.
  4. ^ a b Ivor Tossell (17 March 2014). "Slyce lets users instantly identify and purchase items using smartphones". The Globe and Mail. Retrieved 2 January 2015.
  5. ^ Candice So (28 October 2014). "Slyce and Neiman Marcus partner for fashion-forward visual search". IT Business. Retrieved 2 January 2015.
  6. ^ "Slyce.it".
  7. ^ "Home Depot's Visual Search Is Center Stage on Mobile App".
  8. ^ "Craves.io".
  9. ^ "SnipSnap.it".
  10. ^ a b "Penny stock no more: Slyce goes private".
  11. ^ Jenn Egroff (27 October 2014). "Launch Party "Where Are They Now?!" – Slyce". Startup Calgary. Retrieved 2 January 2015.
  12. ^ "Toronto-Based Slyce Raises $6 Million To Help You Shop". Serious Startups. 13 December 2013. Retrieved 2 January 2015.
  13. ^ Amy Dusto (25 June 2013). "Shopping with a mobile device's camera". Internet Retailer. Retrieved 2 January 2015.
  14. ^ Danny Bradbury (25 February 2013). "Why some entrepreneurs are abandoning the U.S. to set up shop in Canada". Financial Post. Retrieved 2 January 2015.
  15. ^ "Careers". Slyce. Retrieved 2 January 2015.
  16. ^ "Slyce CEO Mark Elfenbein talks to Cantech Letter". Cantech Letter. 2015-10-20. Retrieved 2020-07-18.
  17. ^ "Image Recognition Startup Slyce Raises $10.75M To Be The Amazon Flow For Everyone Else". TechCrunch. Retrieved 2020-07-18.
  18. ^ a b "Canadian Startup Turns to TSX After $11 Million Raise". Tech Vibes. 22 April 2014. Retrieved 2 January 2015.
  19. ^ a b c Seth Fiegerman (4 March 2014). "Is a True Shazam-for-Shopping App Within Reach?". Mashable. Retrieved 2 January 2015.
  20. ^ Young, Vicki M. (2014-06-24). "Slyce Secures $12M in Series B Funding". WWD. Retrieved 2020-07-18.
  21. ^ a b Nick Waddell (23 October 2014). "Slyce is one of my top picks, says StoneCastle's Campbell". Cantech Letter. Retrieved 2 January 2015.
  22. ^ a b c Sarah Perez (16 September 2014). "Visual Search Company Slyce Buys Pounce For $5M To Build "Amazon Firefly" For The Rest Of Retail". TechCrunch. Retrieved 2 January 2015.
  23. ^ "Slyce Acquires BuyCode for US$5M". FinSMEs. 17 October 2014. Retrieved 2 January 2015.
  24. ^ "LinkedIn".
  25. ^ Mcneil, Greg (16 November 2020). "Slyce merger could mean growth in New Waterford". Cape Breton Post. Retrieved 19 November 2020.
  26. ^ Rebecca Thomson (9 October 2014). "Start-up of the week: Visual search platform Slyce". Retail Week. Retrieved 2 January 2015.
  27. ^ Deborah Tuff (30 October 2014). "Introducing Slyce, an impulsive buyer's dream". KSHB. Retrieved 2 January 2015.
  28. ^ Danielle Abril (28 October 2014). "Neiman Marcus partners with startup for 3D visual fashion search". Dallas Business Journal. Retrieved 2 January 2015.
  29. ^ Ian Henry. "Slyce Partners with Neiman Marcus with 'Snap. Find. Shop'". Betakit. Retrieved 2 January 2015.
  30. ^ Deborah Tuff (30 October 2014). "Introducing Slyce, an impulsive buyer's dream". ABC7 Denver. Retrieved 2 January 2015.
  31. ^ a b Ashley Paintsil (27 May 2014). "Meet Slyce: The 'Shazam for Fashion'". FashInvest. Retrieved 2 January 2015.
  32. ^ Natasha Baker (17 May 2014). "Apps aid fashionistas in tracking down desired clothing, shoes". Reuters. Archived from the original on September 11, 2016. Retrieved 2 January 2015.
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