- SRAX
holds competitive advantage as big brands seek solutions that legacy
partners cannot address
- Thousands
joining BIGtoken platform daily with minimal marketing
- Four
nonprofits, three CPG brands added to opt-in platform, increasing usage,
reputation and reach
SRAX
Inc. (NASDAQ: SRAX) sits at the epicenter of consumer privacy and data
ownership. Leveraging its BIGtoken platform, the Company has made it possible
for consumers to own their own data and get paid for the release of that data
while also creating specific data sets around highly valuable verticals. On
November 13, 2019, SRAX hosted a conference call for executives to share Q3
earnings and a forward look into Q4 with investors (http://ibn.fm/j8ME2).
“Consumers are awakening to their online privacy and value
exchange that exists for their personal information,” George Stella, SRAX’s
vice president for brands and shopper marketing, stated in a news release.
“Privacy regulations are happening fast now with California or CCPA and other
states taking hold, and these conditions are creating a competitive advantage
for us because big brands are moving to find solutions that their legacy
partners can no longer address.”
These changes, both in the United States and globally, along
with the ability to provide brands with a complete view of a consumer’s
journey, have given SRAX a distinct competitive advantage. The BIGtoken
platform is the means by which consumers are enabled to own their own data. As
of the call, subscriber base has grown to 16.3 million users with minimal
marketing spending, positioning the Company as a leader in this space. The
platform continues to see anywhere from 3,000 to 10,000 people join a day.
The platform has expanded globally and is listed in the top
100 applications in the App Store and Google Play. The opt-in, user-controlled
data set has proven to be the perfect remedy to GDPR’s impact. In addition to
the acceptance it has seen in the 28 member countries of the European Union,
the platform has also seen significant growth in Brazil, Indonesia, Italy and
the Philippines. SRAX is strongly positioned to conduct research worldwide for
big brand global organizations.
During Q3, BIGtoken added the ability for consumers to
donate their earnings to the American Heart Association, HealthCorps, The ALS
Association and Keep a Child Alive. Users from more than 20 countries have
already donated to these nonprofits. During this same time, the Company’s BIG
Rewards program, an exclusive offer for consumers to redeem earnings at specific
retailers, added Procter & Gamble, Kraft and Sun-Maid. These three major
CPG brands evaluated the platform and saw it as an innovative way to gain
quality data.
The BIG Rewards program creates additional revenue for the
organization while also bringing new users to the BIGtoken platform. The
program allows companies access to a user base that has high privacy settings
on social media, a consumer group that brands might typically have a hard time
reaching.
A second platform, SRAX IR, is focused on helping CEOs and
CFOs identify, manage and communicate with their investor base in
groundbreaking ways. A few of the platform’s features include the ability to
track shareholders’ behaviors and trends over time, get real-time market data
including your company’s level two data, and engage shareholders across
marketing channels including social media, email, and programmatic. Subscribing
companies can utilize SRAX to turn their shareholder base into a revenue
stream.
Additional verticals allow SRAX to sell access to specific
data sets to an increasing number of brands. The two platforms are being
leveraged to build crossover into the verticals. “We spent the past few
quarters integrating our platforms and realigning the sales process and are now
well positioned for growth,” added SRAX CEO Christopher Miglino. “Looking
ahead, we expect to accelerate revenue by engaging with big brands across all
three of our platforms.”
As the demand for data insights increase, SRAX is confident
in growth prospects across its verticals. During Q3, the Company raised $5.5
million through a registered direct offering. As of September 30, 2019, SRAX
reported being debt free, having cash and cash equivalents on hand of $2.8
million, and having approximately 13.9 million shares outstanding compared to
9.9 million in September 2018.
The best way to understand the BIGtoken platform is to join
and discover how surveys are conducted and consumers are given control over
personal data.
For more information, visit the company’s website at www.SRAX.com
NOTE TO INVESTORS: The latest news and updates
relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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