SnipSnap

SnipSnap operates in the mobile commerce and advertising market, offering a platform that digitizes printed coupons for consumer use. Founded in September 2011 by Ted Mann, the Philadelphia-based company emerged from the DreamIt Ventures accelerator program. Mann, a University of Pennsylvania graduate with a background in digital development and strategy at Gannett, started SnipSnap to simplify couponing after frequently forgetting to bring paper coupons to the store.

The core of SnipSnap's service is a mobile application for iOS and Android that allows users to take a photograph of a printed coupon. The app's technology then scans and parses the text, images, logos, and barcodes to create a mobile-optimized version. This digital coupon can be stored, organized, and redeemed directly from the user's smartphone. Key features include location-based reminders that notify users of saved coupons when they enter a corresponding store and alerts for approaching expiration dates. The platform also has a social component, allowing users to discover and share coupons with others.

SnipSnap's business model generates revenue through targeted advertising and affiliate offers. The company partners with retailers to push specific coupons to users based on their past scanning habits and location. A revenue stream is created from a kickback on purchases resulting from these targeted coupons or through a flat fee charged each time a coupon is presented. The company also provides a white-label solution, enabling retailers like Bed Bath & Beyond, Toys R Us, and Party City to create and manage their own mobile coupon campaigns for various digital channels.

The company secured approximately $2.49 million in total funding through several seed rounds from investors including MentorTech Ventures, Ben Franklin Technology Partners, and Michael G. Rubin. By early 2015, the app had amassed over 4 million users. In February 2015, SnipSnap was acquired by Slyce, a Toronto-based visual product search company, for approximately $6.5 million in a cash-and-stock deal. Following the acquisition, Ted Mann continued to lead SnipSnap and was later appointed president of the parent company, Slyce. Keywords: mobile coupons, digital couponing, OCR, coupon scanning app, retail savings, mobile commerce, affiliate marketing, targeted advertising, coupon management, in-store reminders, retail technology, customer loyalty, barcode scanner, mobile offers, white-label retail solutions, Ted Mann, DreamIt Ventures, Slyce acquisition, consumer savings, shopping assistant