- Data protection laws now adopted by nearly 90 countries and independent territories
- SRAX’s BIGtoken platform provides transparent solution that compensates users while providing fee-based access to marketers
Increasing privacy concerns over the use of personal data have played a large part in driving users away from many popular social media platforms that include the loss of over 15 million users by Facebook in less than two years (http://ibn.fm/eFTBq). Accordingly, nearly 90 countries and independent territories throughout the world have now adopted comprehensive data protection laws that aim to protect the public from marketers that obtain and sell data without their explicit permission (http://ibn.fm/WzCxY). SRAX Inc. (NASDAQ: SRAX), a digital marketing and consumer data management technology company, evades this problem through its transparent BIGtoken network that compensates millions of users when they opt in to sell access to their data while simultaneously creating valuable data sets that marketers can access for a fee.
Dubbed by some analysts as the new “oil” powering the digital economy, the importance of data is now reaching mainstream consciousness where consumers are increasingly becoming aware that their data is generating billions of dollars for marketers. Encouraged by SRAX’s message to “take back what’s rightfully yours”, over 16.7 million users answered that call by downloading the BIGtoken application and selling their data in exchange for cash and gift cards.
“Big marketers are really interested in this,” said CEO and founder Christopher Miglino in a recent interview with Brian Calle on the LA Weekly Podcast (http://ibn.fm/dFJrf). “They don’t want to buy bad data anymore. They want to buy data from consumers that have said ‘yes, you have the right to market to me’, so we’ve found ourselves in a unique spot.”
On the client side, SRAX provides a specialized suite of tools offering a valuable competitive advantage for brands in the CPG, investor relations, luxury goods, and lifestyle verticals. Through the integration of several marketing aspects into one platform, SRAX answers the demand for quality data by giving marketers the power to target and access specific niche groups across 25,000 unique points of segmentation in almost every industry. Through a unique interface that gives users the power to submit specialized queries – such as location and purchase history – SRAX’s proprietary technology empowers marketers to unlock the power of consumer data for use in precision marketing strategies that better reach and serve audiences.
SRAX’s mission is to provide everyone on the Internet with choice, transparency and compensation for their digital data. Founded in 2010, the publicly-traded Company has developed a deep understanding of the limited awareness consumers face when it comes to the data they produce online. By offering choice and compensation to BIGtoken users, SRAX is able to provide solutions that benefit both sides in the market for consumer 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