Slyce is an advanced platform dealing in visual product search. It allows users to instantly purchase and identify items that they see in reality. It simply works by taking a picture with a smartphone.
Slyce exists both as a white label solution and as an independent consumer app that can be incorporated into the existing retailer technologies. By using a more advanced technology on image recognition on slyce that is available on a desktop application or on smartphones, Slyce is making it easier for retailers to be present at the exact point a consumer shows interest. Ultimately, Slyce is improving ways on how and when retailers do interact with their customers, and the ways that consumers go about searching for and purchasing goods.
Generally, entrepreneurs do look at business with a view on ways to improve and create better strategies on how to do things. During the 2011’s holiday shopping season, Slyce saw the dramatic development of smartphones. They ensured that these devices not only served as tools for directly purchasing goods by consumers, but as highly efficient devices for individuals to share with friends and loved ones the things that pleased them through posting images.
The founders became critical and asked themselves the ‘what if’ question: “What if we can make people capable of finding and instantly buying the things they admire simply by using images, and what if we take retailers to engage with clients at the exact time that they are inspired to make purchases?”
Erika Racicot alongside Cameron Chell founded Slyce. Cameron has been considered as one of the original creators of Application Service Provider, and original cloud computing firm, FutureLink. Recently, he cofounded the UrtheCast, which streams live HD footages of Earth from ISS. Therefore, he is used to bringing great ideas to life. These two entrepreneurs have also co-founded Business Instincts Group, which is a venture-creation firm.
The market opportunity of Slyce is undoubtedly immense. The M-commerce through the use of smartphones has turned out to be a major revenue flow and a basic consideration for retailers. During the holiday season, the mobile shopping accounted for an approximately 39% of all the online traffic. Through creation of a seamless and instinctual method for consumers to make discoveries and buy things that they come to admire, regardless of where they are, by simply snapping pics, Slyce has made the journey from admiration to possession of a product very simple and painless.
The firm principally takes an advantage of two dissimilar revenue streams aimed at pushing the business forward. They play on both business sides through taking both consumer standpoint and an enterprise solution. Currently, the team is expanding widely. Their needs over the coming days are aimed to be related to development and HR.