Toronto-based Slyce acquires U.S. coupon startup in $6.5-million deal

Toronto-based visual product search platform Slyce Inc. has announced its entrance into the mobile couponing space today, following a $6.5-million (U.S.) acquisition of Philadelphia-based SnipSnap.

Launched in 2012, SnipSnap has since amassed over four million users, who have taken pictures of, shared and utilized over 100 million coupons combined, saving the average user $40 each month. Slyce will also benefit from the 50 partnership agreements SnipSnap has solidified with North American retailers, including Toys “R” Us Inc., Lord & Taylor and Bed, Bath and Beyond.