- Recent
data-privacy concerns cause social media backlash, result in millions of
lost users
- SRAX
enables users to earn compensation for sharing data, creates reliable data
sets marketers can access
- Company
recently partnered with Indian firm, facilitating entry into growing
digital-ad market valued at $3.6 billion
The refusal of Facebook to revise its tracking
practices (http://ibn.fm/hOtF9),
along with increased concerns about data privacy, are among many reasons why
the behemoth platform has decreased in popularity, losing 15 million users
since 2017 (http://ibn.fm/VHHMV). SRAX
Inc. (NASDAQ: SRAX) is a digital marketing and consumer data
management technology company that is countering this trend through BIGtoken,
its consumer managed data marketplace that enables users to own and earn from
their data. The proprietary platform is giving the industry much needed user
transparency and compensation, in addition to creating reliable data sets that
can be sold to marketers.
Awareness among users about data privacy continues to
increase as evidenced by the recent controversy caused when Facebook released a
statement about refusing to change its mode of operations by use of a loophole
in the California Consumer Privacy Act. Stating that its service doesn’t
directly sell user data, Facebook claims it is exempt from the legislation because
of its perceived function as a facilitator in the exchange of data. While
Facebook’s refusal is still pending review by the Attorney General, major
impacts will be experienced throughout the industry if the high court rules
against the company.
SRAX addresses all these concerns and stays ahead of the
curve on industry trends by giving customers the power to choose, provide and
earn from their data through the company’s patented BIGtoken platform. This
proprietary technology offers tools that allow users to select, approve and
monetize their data while at the same time creating anonymous and reliable data
sets that marketers can access for a fee. Since social media users are becoming
increasingly aware of how most companies are collecting and making money from
their data, SRAX offers an alternative symbiotic relationship that benefits
both users and marketers.
Mounting concerns of privacy issues paralleled with
increasing awareness of the BIGtoken platform has resulted in increased use of
the service, currently at over 16 million users. This market shift is expected
to continue while new privacy laws emerge affecting how digital marketers can
reach consumers. Since BIGtoken already operates in compliance with those laws,
the platform is expected to withstand changing regulations as its user base
continues to grow.
Due to the transparent nature of the platform, SRAX provides
relevant and accurate data that users select and share with permission. This
provides SRAX with increasingly reliable data sets across many industry
verticals, accurately identifying target consumers for brands and companies in
the CPG, investor relations, luxury, and lifestyle spaces, keeping those brands
ahead in the competitive curve with high-quality data.
SRAX is growing internationally by launching BIGtoken into
several international markets through the creation of local joint ventures. The
Company’s recent partnership with Mumbai-based Yash Birla Group, with
diversified interests in both consumer and industrial products, will give SRAX
access to India’s estimated digital population of 627 million. One of the
largest growing digital ad markets in the world, India has an estimated value
of $3.6 billion, with expectations to grow at a compound annual growth rate of
32%.
SRAX Mexico, with a team of 90 employees and 70 engineers,
is also at the forefront of the Company’s expansion, along with plans for
BIGtoken Europe to offer the platform in multiple languages in the future.
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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