Slyce is really making a name for itself in the realm of online shopping. The Toronto company has greatly innovated the new concept of visual product and image recognition searching. Now, Slyce is primed to continue its attempts to compete with Amazon. Slyce’s image search concept seeks to go far beyond what Amazon delivers with its Flow search feature. Now, Slyce is targeting Amazon Firefly.
Slyce is really capitalizing on the limited scope of what Amazon offers. Amazon, not too surprisingly, has developed a number of apps to aid its customers in purchasing products on the retail giant’s site. Amazon would not likely find it too beneficial to develop apps so customers are able to go elsewhere. Slyce is a third-party app provider. The company wants to provide shoppers with the ability to buy from any retail website. More accurately, Slyce wants to provide apps that allow customers to buy things more easily and a lot more quickly.
By adding a novel new app to a smartphone, customers can take pictures of merchandise they are interested in. The image can then be used to search for something similar (and, possibly, less costly on other retail sites. As Slyce grows bigger in notoriety and popularity, more and more consumers are going to start downloading this app. Unlike Amazon Flow, the app will work with scores of different retailers. That alone is going to be very attractive to consumers. This, of course, is Slyce’s version of Amazon Flow. The variant of Amazon Firefly is going to prove very intriguing as well.
Actually, Slyce is not going to be making their own app. Rather, the company is purchasing Pounce. Pounce is an app founded in Israel and helps consumers shop from print advertisements and catalogs. Slyce paid $5 million for Pounce and the acquisition allows the Toronto company to really expands capabilities.
Slyce did have plans to develop its own version of Firefly and Pounce. Through purchasing Pounce, a competitor is eliminated from the market. Moreover, Slyce is able to combine Pounce without whatever original designs or prototypes existing on the company’s drawing board.
One huge benefit to acquiring Pounce is all of the affiliated retailers under the Pounce umbrella are acquired as well. The retailers associated with Pounce are both popular and impressive. Pounce wouldn’t be worth $5 million if the app didn’t work for fans of big name retailers.