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Slyce Inc - The Want Engine - Signs Agreement with Leading Grocery App Network PDN to Provide Visual Search Technology for Photo-Driven Shopping List Creation
|By Marketwired .
|July 24, 2014 07:00 AM EDT
TORONTO, ONTARIO -- (Marketwired) -- 07/24/14 -- Editor's Note: There is a video and an image associated with this release.
Visual Search Company Slyce Inc. (TSX VENTURE: SLC) today announced it has signed an exclusive agreement with The Purchase Decision Network (PDN), to provide visual product search services for their own "Shopper" App (www.myshopperapp.com) and other 3rd party shopping apps within their network.
PDN currently powers 10MM shopping trips by 2MM shoppers monthly across the different shopping experiences provided by its publishing partners.
The Slyce Inc. visual search technology will allow users 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.
Once lists have been created in PDN's Shopper App, grocery coupons, supermarket flyers and daily deals from brands and retailers are automatically matched against them.
Slyce and PDN will share in monetization vehicles around the integration, including targeted ad units, local offers and affiliate product purchase opportunities.
Slyce CEO Mark Elfenbein said, "This partnership represents a winning scenario for everyone involved. Together, Slyce and PDN are giving users access to an innovative and intuitive way to easily add items to their shopping list and also creating valuable real estate for CPG companies and advertisers to reach shoppers at the time of purchase intent."
Sean Flynn CEO of PDN said "Our publishers will immediately get access to a great new technology as well as a brand new source of revenue. We are excited to see them integrate visual search into their different real-world shopping experiences. "
About SLYCE Inc.
The Corporation is a visual search technology company based in Toronto, Ontario and is engaged in the business of providing advanced imaging technology visual search software that allows consumers to purchase products at the moment they discover them - in store and online.
The Corporation 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. The customer is provided with direct and close-matching products from the retailer's inventory, which can be purchased immediately at the moment of inspiration.
The Corporation's strategy is to position itself as a pivotal player in the emerging visual web. The Corporation can provide its technology to retailers, brands, application developers and digital publishers, enabling their applications to recognize products for instant purchase. The Corporation expects to provide its technology to retailers in exchange for integration, licensing and per search fees, percentage sales splits and big data provision and analysis. The Corporation is currently in discussions with six of the top 20 retailers in North America.
For image download and further company information please click for the Slyce Media Kit.
About The Purchase Decision Network
The Purchase Decision Network (www.pdnmedia.com) is the first and only native advertising network for CPG brands. PDN includes shopping apps that reach consumers across the purchase path as they plan, shop in stores and engage with the brands they love. PDN powers over 10MM shopping trips a month through best selling apps including Out of Milk, Buy Me a Pie, Our Groceries, Scan2List and Shopper.
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, information with respect to: operational decisions and the timing thereof, suggestions of future outcomes, the future use and development of technology, future customers and business partners and ongoing corporate strategy. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect. Although the Corporation believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because the Corporation can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law.
The reader is cautioned not to place undue reliance on this forward-looking information.
None of the information contained on, or connected to, the Corporation's website is incorporated by reference herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the video associated with this release, click the following link: https://www.youtube.com/watch?v=cJupFMy9Ugg&feature=youtu.be
To view the image associated with the release, click the following link: http://www.marketwire.com/library/20140723-958963_BG.jpg
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