Dive Brief:
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Visual product search platform company Slyce, which last month garnered $10.75 million in investment funds, and Oculus Ventures Corp. have combined their companies into a new venture that will be called Slyce Inc.
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The amalgamation agreement is subject to approval of the Canadian stock exchange TSX Venture Exchange and regulatory agencies.
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Slyce is developing technology that would compete with Amazon’s Flow, which allows shopping via smartphone snapshots of products.
Dive Insight:
With Slyce, Amazon Flow, and no doubt others someday, point-and-shoot showrooming is quickly becoming a reality. How widespread its use proves to be will depend on how versatile it is for consumers, including how well it allows them to compare prices and leverage loyalty programs.