Company Behind the Award-Winning Shopping App, Slice, and Slice Bookshelf Closes Round
PALO ALTO, CA--(Marketwired - Aug 23, 2013) - Slice today announced that it has closed $23 million in funding, led by Rakuten, the largest e-commerce company in Japan, with Siguler Guff's Russia Partners and NPD Group joining the round. Existing investors DCM, Innovation Endeavors and Lightspeed Venture Partners also participated. The investment serves as an endorsement of the company's vision to create fun and useful apps that draw from the wealth of information buried in our inboxes to improve daily experiences.
Slice launched its flagship app in 2011 with the mission to simplify online shopping and has since parsed more than 90 million items at a rate of two items per second, for a total purchase value of nearly $3 billion. The Slice shopping app makes it fun and effortless to keep track of everything you buy online, automatically organizing your purchase history and receipts, sending you push notifications when packages are en route for delivery and alerting you when you're eligible to recoup money for items you've bought that have dropped in price.
Slice has further expanded its reach to consumers through partnerships that leverage its set of APIs in order to make the most of a consumer's purchase history, track packages across multiple carriers and tap into Slice's ancillary services such as Price Drop Alerts. Most recently, TheFind has integrated Slice into its iPad and Web apps in order to further personalize shoppers' search results and enable them to track shipments right within the app.
The latest product from Slice, called Slice Bookshelf, is the easiest way to share and discover books with friends. Like the Slice shopping app, Bookshelf syncs with your email inbox and automatically pulls information from your past book purchases, making it simple to build your virtual library. With Bookshelf, you can instantly dive in and discover new content, borrow and lend among friends and start conversations around your favorite books.
"Our massive growth over the past two years topped off with this round of financing validates our vision to solve consumer needs with services that go far beyond their expectations," said Scott Brady, Slice CEO and co-founder. "We will continue to execute on that vision by supporting and evolving our products, growing our team and extending our APIs to partners, all with the ultimate goal of making life easier for consumers."
Slice uses the information buried in your email inbox to create fun and useful consumer applications and experiences. The popular flagship app, Slice, provides a simple way for consumers to manage all their purchases, organize receipts, track shipping, take advantage of price adjustments and improve their shopping experiences. Slice Bookshelf is the easiest way to share and discover books with friends. Based in Palo Alto, CA, Slice is backed by DCM, FLOODGATE, Innovation Endeavors (Eric Schmidt), Lightspeed Venture Partners, NPD Group, Rakuten, and Siguler Guff, as well as Michael Birch and Rick Thompson. To learn more about Slice, visit www.slice.com.
Lauren Lloyd or Tessa Greenwood