- SRAX’s BIGtoken platform permits consumers to own, monetize their data
- The Company has teamed up with Experian(R) to provide financial services to BIGtoken users
- SRAX’s technology unlocks data to reveal brands’ core consumers across marketing channels
SRAX Inc. (NASDAQ: SRAX) is a digital marketing and consumer data management technology company based in Los Angeles, California. Through its BIGtoken platform, the Company has developed a consumer-managed data marketplace that allows people to own and get paid for the release of their digital data. Fundamentally, SRAX is at the front line of developing a consumer-managed data marketplace that gives consumers control over their information. The Company offers everyone in the Internet ecosystem choice and transparency, as well as compensation.
A vital issue today is privacy and data ownership. Increasingly, state and federal privacy laws are influencing the way that marketers can reach consumers. These laws are placing the value and control of data back in the hands of consumers, a significant move that has fueled increased consumer scrutiny of and backlash against social media platforms such as Facebook, Twitter, Snapchat, LinkedIn and others over the use of users’ data. Through BIGtoken, SRAX provides consumers the privacy and protection they seek by selling access to valuable consumer data in the form of anonymized segments—access that is gained or denied per the consumer’s permission.
Recently, SRAX and Experian announced a partnership meant to provide people with the opportunity to redeem points they’ve earned in the BIGtoken platform for access to Experian IdentityWorks (http://nnw.fm/126hA). Experian is the world’s foremost global-information services company. Experian IdentityWorks is a complete offering that includes features such as Experian Boost(TM), credit monitoring, FICO(R) scores and credit-card matching. Through this exclusive partnership, BIGtoken users will be able to use points to obtain access to one free year of Experian’s product.
“Experian is a leader in providing consumers with transparency around their financial data,” SRAX founder and CEO Christopher Miglino stated in a news release. “Working with Experian validates the data segment that we have built and expands options for point redemption. Further, this creates additional revenue-sharing opportunities for various financial services companies and more avenues to monetize our subscriber base in 2020.”
The SRAX/Experian partnership is rooted in the above-mentioned transparency around consumers’ financial data and the desire consumers have to receive compensation from marketers. This desire is evidenced by the fact that more than 16 million people around the world have joined the BIGtoken platform. This platform enables consumers to control what pieces of their own data are for sale and which companies can buy that data. Furthermore, as evidenced by the Experian collaboration, BIGtoken’s unique approach lines up well with Experian’s dedication to galvanizing consumers to manage their finances better.
SRAX’s tools deliver a digital competitive advantage for brands in the CPG (Consumer Packaged Goods), investor relations, luxury and lifestyle verticals. This advantage is realized through integrating all facets of the advertising experience, including verified consumer participation, into one platform. Consumers who participate are placed into advertising groups (http://nnw.fm/HZo8E). Advertisers then purchase access to these groups, and consumers earn a portion of the revenue from the data sale. The benefit of this model is consumers’ complete control over what data they share and which companies can access the selected data.
SRAX works to provide tools to marketers, content owners and consumers that unlock the value of data. For investors, the Company is growing numerous recurring revenue streams through its different platforms. SRAX’s continued emphasis is on building the most valuable, consumer opted-in data set in the world.
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://nnw.fm/SRAX
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