- SRAX derives consumer data from BIGtoken platform that compensates over 16 million users from more than 30 countries for access to their data
- BIGtoken provides brands with ability to target and access specific niche groups across 25,000 unique points of segmentation
The business of big data is evolving to benefit both consumers and marketers as demonstrated by the success of SRAX (NASDAQ: SRAX), a technology company focused on digital marketing and consumer data management. The Company’s BIGtoken platform compensates over 16 million users with cash or gift cards when they opt in to give access to their data while concurrently creating valuable data sets that can be accessed by marketers for a fee.
“Big marketers are really interested in this,” said SRAX CEO and founder Christopher Miglino in an interview on the LA Weekly Podcast with Brian Calle (http://ibn.fm/dIMJd). “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.”
SRAX’s tools deliver a digital competitive advantage for companies in several verticals that include consumer goods, investor relations, luxury, and lifestyle. The Company’s technology unlocks data to reveal brands’ core consumers and their characteristics across several marketing channels by integrating all aspects of the advertising experience into a single platform. Besides giving access to marketers for a fee, SRAX also engages in the sale of specialized data sets across several verticals.
“Our primary focus is figuring out ways to monetize different data sets. We had a business a few years ago where we aggregated data on doctors in the country and then we sold that data,” said Miglinio, referring to SRAX’s healthcare vertical, SRAX MD, that sold for a $43.5 million consideration while allowing SRAX to retain a 31% ownership.
Investor relations is another key area for SRAX that has increased in importance during these unprecedented economic times, elevating demand for virtual investor relations platforms. Through SRAX’s Sequire platform, CEOs & CFOs of publicly traded companies are now able to monitor the trading behaviors of their investors while the investors in turn are kept informed on corporate prospects.
The power of big data to meet the demands of the increasingly demanding and competitive economic landscape is exemplified by SRAX’s services that give clients the ability to target and access specific niche groups across 25,000 unique points of segmentation. The platform’s unique interface gives users the power to submit specialized queries that include location and purchase history.
Besides serving clients on both sides of the data trade, SRAX also gives back to the community by allowing BIGtoken users to donate their earnings to charity through its partnerships with several high-profile, nonprofit associations. Through the program, BIGtoken users are able to support efforts put forward by the American Heart Association, HealthCorps and The ALS Association.
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