Earlier this year, Slyce acquired SnipSnap for $6.5 billion dollars. The deal was made through stocks and cash. Sylce is a visual image recognition provider and SnipSnap is a mobile digital coupon company. They had plans to integrate the two technologies with a new application called Scout. SnipSnap has a popular mobile couponing application for consumers.
SnipSnap’s mobile application works with restaurants and retailers not supermarkets. Recently SnipSnap debuted Scout, a applications, that works like a virtual assistant. It helps consumers find savings using a chat based interface. With this application, you can type in a product name, scan bar codes, and take photos. The launch of this new product comes at a time when there has been an increase in similar applications.
Scout builds upon the Snip Snap community of bargain hunters by offering an new feature with the SnipSnap application. A button at the bottom of the screen activates Scout where users can talk with the Virtual Assistant.
Saving for consumers comes from SnipSnap coupons, price matching, and instant rebates from online retailers and other mobile coupon applications. It filters the list in searches based on the policy of the store price match program.
Once an image is recognized by Scout the user has to answers some automated question to get the best deals. It recognizes images almost 95 percent of the time scanning thousands of sites to find the best deals for customers. There is a staff of 50 that helps users with the new the application.