Reklaim (TSX.V: MYID) (OTCQB: MYIDF), the destination for consumers to access and reclaim their data, today announced plans to explore strategic M&A deals with data partners struggling with compliance issues in the face of a rapidly changing privacy market. Privacy laws such as CCPA and CPRA in California and GDPR in Europe require that companies obtain explicit consumer consent to remain compliant in selling their data. In addition, large firms such as Oracle and others have recently become the focus of litigation for their data practices. Since many firms operating in the data space today may not have the tools or the interface to communicate with consumers, these companies may be exposed to potential litigation and business risk in the near future. Further, as more brands look to replace existing data suppliers with those adhering to new privacy standards, there may be pressure on these firms to find a partner to solve this compliance gap. Reklaim is that solution. “The global data market has historically been built on collecting data unbeknownst to consumers and arbitraging it to as many different firms as possible for as much money as possible,” said Neil Sweeney, founder, and CEO of Reklaim. “This is quickly coming to an end, not only with accelerating changes in privacy legislation but also in how companies such as Google and Apple are quickly reducing the amount of data leaking from their products.”
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About Reklaim Ltd.
Reklaim is driven by consumer data and the evolution of privacy. Offering compliant, zero-party data to Fortune 500 brands, platforms and data companies, Reklaim allows consumers to visit the platform, confirm their identity, and unveil data that has been collected and sold for years without the consumer’s explicit consent. Reklaim enables consumers to take back control of this data by setting up a Reklaim account through which, should they choose to, they can be compensated for their data or choose to protect it via a suite of privacy tools. To view more information about Reklaim, visit https://investors.reklaimyours.com.
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