On the 1st of March, 2016, Yahoo! Finance brought the world’s attention to the last year’s financial progress of Slyce. According to the details released by the company, last year had been a gold mine in terms of partnerships, allowing rewarding contracts to be chalked out with names as popular as Urban Outfitters, Shoe Carnival, SHOES.COM and Marcus. The last one, Marcus, has joined hands with Slyce to power its NM application, and is utilizing the visual search of similar products when shopping in a particular category through taking three dimensional photos of the preferred objects.
In addition to this, Slyce managed to bring about the production of a scanner that would work universally through a camera and recognize all types of products, not to mention the barcodes as well. The launch of the scanner took place in October. Previously, August saw the launch and immediate success of Coupon Author, a service intended to allow the retailers to distribute the various offers on their products. Later, in November, Slyce Link became operational.
The progress of Slyce is well reflected in the unbelievable 1784% increment in the total revenue generated in 2015 as compared to that in 2014. Values went from $89,803 to $1,692,292 in this regard. The expenses also increased from $6,900,310 to $11,639,430 because of the acquisition of more and more initiatives. At the end of the quarter, therefore, Slyce was looking down on a favorable total loss value of $12,069,466 as opposed to the much larger sum of $17,576,576 that was announced in 2014.
Recently, in February 2016, Slyce has announced that an investor would be subscribing for 5 million dollars out of a figure of 7 million in terms of units owned within the company. With 3.5 million dollars worth of units already subscribed to by the unidentified investor, the company is looking forward to close the deal as quickly as possible.