- SRAX CEO discusses company’s milestone achievements in 2019
- Two flagship products – BIGtoken and SRAX IR – are generating multiple recurring revenue streams
- SRAX is strategically positioned for strong 2020 as proprietary products start contributing to the top line
- Company moves from development cycle to revenue cycle, anticipates 2020 growth
In an exclusive interview with NNW’s Stuart Smith, SRAX Inc. (NASDAQ: SRAX) CEO Chris Miglino discusses the company’s milestone achievements in 2019 as well as its ambitious plans for 2020 to harness the brand recognition built on the emerging regulation underpinning consumer data protection (http://ibn.fm/G72dC).
“That was a big year for us in terms of getting our BIGtoken product out to the market and getting new products out to market in general,” Miglino said, summarizing major developments of 2019. “BIGtoken and SRAX IR came to maturity of being able to start generating revenue this year, and we are excited about that going forward. BIGtoken ended up the year with around 16.5 million users on the platform, all of whom signed up within a year.”
SRAX, a digital marketing and consumer data management technology company, is revolutionizing consumer data collection through a secure and transparent platform called BIGtoken. BIGtoken unlocks the data, helping brands reveal their core customers and the characteristics of those customers across different marketing channels, while at the same time allowing consumers to make money from selling the data they create as part of their digital footprint. In addition, the company developed the SRAX IR platform, which helps public companies communicate with existing shareholders and also reach potential investors by leveraging data on their behavior.
Speaking about SRAX IR, Miglino noted that the product is building a valuable community of public stock issuers, with 35 companies joining the platform. SRAX IR helps public companies manage the relationship with their existing and potential investors by leveraging data on stock buyers’ and sellers’ activities to uncover trends in their behavior over time, and by tracking ROI on investor relations programs. Miglino reports that the product is receiving positive feedback from users as it enables them to better communicate with their investor base.
SRAX is currently in an excellent position as BIGtoken is generating multiple revenue streams from market research, customer activation and customer data segments selling to clients such as Proctor & Gamble, Kraft, Sun-Maid and others, said Miglino, who also described ambitious plans for the future: “We have some amazing plans in 2020 about what we’re going to be launching on the platform. 2019 for us was the year to tee up all the platforms and the technology to start generating revenue, and 2020 is where we’re going to start to see both BIGtoken and SRAX IR start to contribute to the top line for the company.”
Miglino pointed out that the year has already started strong as SRAX announced in January that it partnered with Experian to offer financial services to BIGtoken users (http://ibn.fm/tJawt), a deal that Miglino expects to be a big revenue generator both for SRAX and Experian.
Speaking about SRAX’s outlook for 2020, Miglino said that the company established powerful partnerships with both publishers and marketers to bring people on to the BIGtoken platform. As a result, the company expects an increasing number of consumers to join the platform, while SRAX IR anticipates continued growth of recurring revenue streams. “Both platforms are keyed up now to start contributing to the company financially,” said Miglino. “As we move from the development cycle to the revenue cycle, we are very excited about that.”
With the Q3 results released in November 2019 showing that vertical sales increased 17% year on year while net income reached 1.4 million, the financials reflect that SRAX is on the right track towards achieving these plans (http://ibn.fm/jwGAP). As the company continues its strategic growth, SRAX represents an attractive opportunity for investors seeking to capitalize on early entrance into the lucrative consumer-data space.
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