It appears to be some exciting times for Toronto based start-up Slyce, as the company prepares to go Public with an upcoming IPO. After having raised more than $10 million in capital venture-funding, the company continues its progress with an IPO that offers the public an opportunity to taste more of Slyce.
If you can image browsing through a magazine or even being anywhere in the public, and your eyes catches a glimpse of a fashionable jacket, a pair of jeans or a blouse, or a pair of shoes, and you wish to know more about. Instead of spending hours, searching multiple sites, you simply pull out your smart phone, snap a picture, go the site of your favorite retailer and, click to purchase it. This is not fantasy. It is now possible with the Slyce app that will be supplied by the retailers.
The company appears to be well-positioned as the m-commerce market is expect to exceed $86 billion in the next 2 years.
Slyce will be listed on the venture platform of the Toronto Stock exchange, after the amalgamation with Oculus Ventures Corporation. The deal is subject to approval from the regulatory authorities.
The company, which, in the past six months has completed an A- round financing of more than $10 million and created a tech hub in Nova Scotia, now employs a growing staff of more than 60 people, and has recently expanded operations with the purchase of visual search firm Hovr-it.
There are very few competitors in the visual search field, and Slyce appears to have an advantage as it is currently in talks with 6 of the biggest retailers in the US. The application is also available for desktops, as consumers can hover over images online, and can be re-directed to a page with the option to purchase. There is potential for benefits from both the retailers and consumers.
Company co-founder and Managing director, Cameron Chell, and the rest of the Slyce team is excited about the prospect of going public, as Slyce has the potential to become another great technology company. With a changing retail landscape that is expected to be transformed as m-commerce continues to grow, the demand for the Slyce visual search technology can be expected to remain strong as more brands come to appreciate the benefits.