Slyce Inc.
TSX VENTURE : SLC
FRANKFURT : 06O1

Slyce Inc.

October 28, 2015 09:00 ET

SnipSnap Launches 'Scout', a 'Siri for Savings', Visual Search-Powered Savings Assistant

TORONTO, ONTARIO--(Marketwired - Oct. 28, 2015) -

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SnipSnap, the mobile couponing division of visual search leader Slyce Inc. (TSX VENTURE:SLC), today announced the launch of 'Scout' a ground-breaking new savings feature which is being integrated into the leading SnipSnap app.

Scout is a new and proprietary savings concierge which enables SnipSnap's 5 million+ app users to simply snap a photo of any 3D or 2D item, have it instantly recognized (using Slyce's patented image-recognition technology), and immediately be presented with all possible ways to save money on it.

Scout has been developed to source and present deals to users from a multitude of sources including;

  • In-Store Price Matching: Scout sources preferential prices on products from competitor retailers that are then eligible for in store price matching.
  • Instant Mobile Rebates: Scout users simply scan their receipt to receive instant cash back.
  • Mobile Coupons: Scout searches and finds all the valid offers from the SnipSnap coupon database, the largest repository of in-store coupon content in mobile.

During extensive beta testing, users were able to save an average of 15% and in numerous cases were able to stack two or more of the Scout-sourced deals and save more than 50% on items in store.

"SnipSnap users are among the most savvy savers on the planet, and they've taught us an incredible number of innovative ways to save money over the last few years." said SnipSnap founder and President, Ted Mann. "With Scout, we've taken the very best of these solutions and built a technology platform able to source the very best of these for any given product, at any given moment and in any given location.

Slyce CEO Mark Elfenbein said of the launch, "When it comes to the power of visual product search, creating a simple, intuitive and highly compelling experience for mobile users is the holy grail. We're immensely excited by the launch of Scout as it has such incredible potential to build on the already significant SnipSnap user base and become the must-have tool for any and all savvy shoppers.

SnipSnap is one of the leading mobile coupon apps in North America with over 5 million users and was the first ever app to use image recognition to let users scan any retailer's paper coupon and turn it into a mobile coupon. In the past three years, SnipSnap has activated over 250 million coupons, and saved users half a billion dollars.

For further information about Scout, please download the media kit.

About Slyce Inc.

Slyce (TSX VENTURE:SLC)(FRANKFURT:06O1), based in Toronto, ON, delivers sophisticated visual search technologies and is currently focused on enabling a powerful sales channel for major retailers and their customers. Consumers, wherever they are, can conveniently engage with retailers by taking pictures of desired products using their mobile devices, thereby initiating the visual search service with near-instant product recognition capability. The Company delivers its technology both as a white-label visual search platform and as a suite of consumer mobile apps. Slyce's technology is used by large retail brands such as Neiman Marcus, Urban Outfitters, JCPenney and Home Depot.

Slyce's business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include fees for software licensing, integration, purchase transactions, program promotions and data analytics.

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).

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. 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.

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