Slyce Inc. 2015 Financial Year End Report

Toronto, ON based Slyce Inc. released it’s figures for it’s 2015 financial year end, which ended on Oct. 31st, 2015. As reported on Yahoo Finance, the company’s revenue increased from $89,803 last year to $1,692,292, which is 1784% increase. While this is encouraging of the company’s growth, they also showed a net loss of $12,069,466. Compared to 2014’s $17,576,576, this is still quite an improvement, and given all of the business acquisitions, a lot of this loss can be attributed to the increase in the company’s sales and marketing initiative.

There were several key expansions to note during the 2015 financial year. A new partnership with Shoes.com, responsible for the shoeme.ca and onlineshoes.com websites, was reached, as well as new contracts agreed upon with Urban Outfitters and Shoe Carnival. Also of note is the company’s expansion on their current partnership with Neiman Marcus.

Several technical accomplishments were also listed during the year, which are looked upon to increase the company’s standing in the field. Along with enhancing their current tech with updated 3-D recognition, as well as increased efficiency of their 2D content management system, several new bullet points were added. Services like Slyce Link and Coupon Author were added to their already existing integrated offerings, as well as presentation of Slyce’s own apps such as Craves and Pounce.

Mark Elfenbein, CEO of Slyce Inc., has stated that the company has learned a lot since its initial foray into commercial operation. Combined with the experience gained, the continued financial growth, and their new investment initiative, Slyce Inc. is looking to continue their positive growth.