Showing posts with label e-commerce. Show all posts
Showing posts with label e-commerce. Show all posts

Tuesday, September 16, 2014

Slyce To Buy Tel Aviv Based Startup Pounce for $5 million

Tel Aviv-based Pounce, a mobile shopping app that surfaces deals from retailers, as well as a way to shop print ads and catalogs from your smartphone, has been acquired by visual search company Slyce for $5 million in shares, cash and earn-out incentives. The deal wasn’t entirely a talent grab either, says Slyce, as the company was already on track to roll out a consumer-facing app of its own. The technology from Pounce is helping it to speed things up.

Additionally, the technology from Pounce will be offered to Slyce’s retailer customers.

Pounce, for a bit of background, is the main product from BuyCode, founded in 2012. The app was tackling one of the harder aspects to mobile shopping: the checkout process. But instead of strictly going after e-commerce website integrations, for example, the app worked with retail partners and other third parties to link item photos to inventory and pricing information. The end result was an app that allowed consumers to scan items – like retailer circulars or magazine ads – or browse through a series of deals, then checkout in just a couple of clicks.

It was an e-commerce experience, essentially, since the retailers’ commerce platforms were involved in making the sales happen, but it was one that began through a different sort of user activity – scanning and snapping, not surfing the web.

As of last year, the app supported retailers like Macy’s, Ace Hardware, Target, Toys “R” Us, Babies “R” Us, Staples, Best Buy, and more. More recent integrations included other large brands like Lord & Taylor and Hudson’s Bay.

According to Slyce, one of the things that made Pounce’s technology desirable was that it allowed customers to continue to checkout items from multiple retailers’ commerce platforms after entering in their payment information just one time. That’s still a difficult aspect to mobile shopping today, which a number of companies are tackling, including PayPal with its new SDKs and One Touch product, as well as Google with Google Wallet, and Apple more recently with its Apple Pay for mobile apps. 

Now image recognition startup Slyce has something similar, thanks to this acquisition.

For those unfamiliar with Slyce, the Toronto-based image recognition startup itself offers similar technology to “Amazon Flow” or Amazon’s Firefly feature in its new Amazon Fire smartphones. Firefly lets you point your Amazon phone at objects in the real world, and then buy them (from Amazon, naturally!).

Slyce, meanwhile, has been partnering with major retailers so they can offer the same to their own customers, as well as video and audio recognition, QR and barcode scanning, and NFC. Once items are scanned with Slyce, they can be purchased immediately. However, Slyce had been focusing on retail customers until now, not the consumer. That will change in Q4 2014 when the company rolls out its own consumer app that will be capable of recognizing objects in the real world and enabling one-click purchases. Call it “Amazon Firefly” for the rest of retail, perhaps. Pounce fits in nicely by helping Slyce save on development time and investment with its B2C strategy.

Following the acquisition, Pounce’s team will join Slyce and CEO Avital Yachin will join the company’s executive team.

“We’re incredibly excited to be acquiring both the technology and the immense talent that Pounce comes with,” said Slyce CEO Mark Elfenbein in a prepared statement. “We are consistently looking to add and perfect the functionality we can offer major retailers with the Slyce visual search platform.”

Source: Techcrunch

Monday, September 15, 2014

Israeli Startup Fitterli The Winner Of Intel Business Challenge Europe 2014

The young Israeli startup Fitterli, a service that provides an online virtual changing room for shoppers, is the winner of the Intel Business Challenge Europe 2014. The Israeli team beat teams from 12 European countries.

The winning teams of the various Intel Business Challenges will be presented with the opportunity to attend the final Intel Global Challenge 2014 at the University of California later in the year. Three Israeli startups made it to the final phase, Augmedics and Pzartech, but Fitterli’s unique method of online clothes shopping won over the judges.

Fitterli is run by the four man team that includes CEO Daniel Mankowitz, CTO Aaron Wetzler, CSO Matan Sela and COO Sebastian Derhy.

Source: NoCamels

Tuesday, August 26, 2014

Israeli Startup Feedvisor Raises $6M Series A For Its Repricing Platform

TechCrunch: Tel Aviv-based Feedvisor, an algorithmic pricing and business intelligence platform for online retailers, today announced that it has raised a $6 million Series A round led by Australia’s Square Peg Capital. Today’s announcement comes just under a year after the company announced its $1.7 million seed round, which included funding from JAL Ventures, Oryzn Capital and Micro Angel Fund, all of which also participated in this new round.

In its current form, Feedvisor focuses on retailers who use Amazon’s eCommerce platform. It helps these retailers keep their prices competitive by using self-learning algorithms that can automatically look at their competitors’ prices, product demand and price elasticity to figure out the best price according to a retailer’s business objectives.

If that sounds a little bit like our former Disrupt Battlefield finalist Boomerang Commerce, that’s no coincidence because the two offer a very similar range of services, but Boomerang focuses squarely on large retailers with an online presence while Feedvisor is only going after retailers on Amazon for now.

According to Shmuli Goldberg, Feedvisor’s Director of Marketing, the company currently focuses on Amazon because it is the largest online marketplace. “It’s where we grew up and matured as a product and company, but our technology itself is not tied to one platform, and can be adapted to any number of applications, both in the marketplaces and the more traditional eCommerce and retail spaces,” he said. “We’re watching the market very closely, and are working even closer with our clients. As online marketplaces and eCommerce as a whole matures, we’ll always be open to creating opportunities for ourselves on other platforms”.

In total, the Feedvisor team says, its platform now manages over $1 billion in inventory for the service’s users. As for the new funding, Goldberg said that the company will mostly use it for research and development to strengthen its current offering and to expand its business intelligence service. “Our primary goal here is to provide online businesses owners with all the information they need to successfully grow their business, and all in one place,” he said.