Mr. Mark Elfenbein reports

SNIPSNAP LAUNCHES 'SCOUT', A 'SIRI FOR SAVINGS', VISUAL SEARCH-POWERED SAVINGS ASSISTANT

SnipSnap, the mobile couponing division of visual search leader Slyce Inc., has launched Scout, a groundbreaking new savings feature which is being integrated into the leading SnipSnap app.

Scout is a new and proprietary savings concierge which enables SnipSnap's five million plus app users to simply snap a photo of any 3-D or 2-D item, have it instantly recognized (using Slyce's patented image recognition technology), and immediately be presented with all possible ways to save money on it.

Scout has been developed to source and present deals to users from a multitude of sources including:

• In-store price matching: Scout sources preferential prices on products from competitor retailers that are then eligible for in store price matching;
• Instant mobile rebates: Scout users simply scan their receipt to receive instant cash back;
• Mobile coupons: Scout searches and finds all the valid offers from the SnipSnap coupon database, the largest repository of in-store coupon content in mobile.

During extensive beta testing, users were able to save an average of 15 per cent and in numerous cases were able to stack two or more of the Scout-sourced deals and save more than 50 per cent on items in store.

"SnipSnap users are among the most savvy savers on the planet, and they've taught us an incredible number of innovative ways to save money over the last few years," said SnipSnap founder and president, Ted Mann. "With Scout, we've taken the very best of these solutions and built a technology platform able to source the very best of these for any given product, at any given moment and in any given location."

Slyce chief executive officer Mark Elfenbein said of the launch: "When it comes to the power of visual product search, creating a simple, intuitive and highly compelling experience for mobile users is the holy grail. We're immensely excited by the launch of Scout as it has such incredible potential to build on the already significant SnipSnap user base and become the must-have tool for any and all savvy shoppers."

We seek Safe Harbor.