- SRAX holds competitive advantage as big brands seek solutions that legacy partners cannot address
- Thousands joining BIGtoken platform daily with minimal marketing
- Four nonprofits, three CPG brands added to opt-in platform, increasing usage, reputation and reach
SRAX Inc. (NASDAQ: SRAX) sits at the epicenter of consumer privacy and data ownership. Leveraging its BIGtoken platform, the Company has made it possible for consumers to own their own data and get paid for the release of that data while also creating specific data sets around highly valuable verticals. On November 13, 2019, SRAX hosted a conference call for executives to share Q3 earnings and a forward look into Q4 with investors (http://ibn.fm/j8ME2).
“Consumers are awakening to their online privacy and value exchange that exists for their personal information,” George Stella, SRAX’s vice president for brands and shopper marketing, stated in a news release. “Privacy regulations are happening fast now with California or CCPA and other states taking hold, and these conditions are creating a competitive advantage for us because big brands are moving to find solutions that their legacy partners can no longer address.”
These changes, both in the United States and globally, along with the ability to provide brands with a complete view of a consumer’s journey, have given SRAX a distinct competitive advantage. The BIGtoken platform is the means by which consumers are enabled to own their own data. As of the call, subscriber base has grown to 16.3 million users with minimal marketing spending, positioning the Company as a leader in this space. The platform continues to see anywhere from 3,000 to 10,000 people join a day.
The platform has expanded globally and is listed in the top 100 applications in the App Store and Google Play. The opt-in, user-controlled data set has proven to be the perfect remedy to GDPR’s impact. In addition to the acceptance it has seen in the 28 member countries of the European Union, the platform has also seen significant growth in Brazil, Indonesia, Italy and the Philippines. SRAX is strongly positioned to conduct research worldwide for big brand global organizations.
During Q3, BIGtoken added the ability for consumers to donate their earnings to the American Heart Association, HealthCorps, The ALS Association and Keep a Child Alive. Users from more than 20 countries have already donated to these nonprofits. During this same time, the Company’s BIG Rewards program, an exclusive offer for consumers to redeem earnings at specific retailers, added Procter & Gamble, Kraft and Sun-Maid. These three major CPG brands evaluated the platform and saw it as an innovative way to gain quality data.
The BIG Rewards program creates additional revenue for the organization while also bringing new users to the BIGtoken platform. The program allows companies access to a user base that has high privacy settings on social media, a consumer group that brands might typically have a hard time reaching.
A second platform, SRAX IR, is focused on helping CEOs and CFOs identify, manage and communicate with their investor base in groundbreaking ways. A few of the platform’s features include the ability to track shareholders’ behaviors and trends over time, get real-time market data including your company’s level two data, and engage shareholders across marketing channels including social media, email, and programmatic. Subscribing companies can utilize SRAX to turn their shareholder base into a revenue stream.
Additional verticals allow SRAX to sell access to specific data sets to an increasing number of brands. The two platforms are being leveraged to build crossover into the verticals. “We spent the past few quarters integrating our platforms and realigning the sales process and are now well positioned for growth,” added SRAX CEO Christopher Miglino. “Looking ahead, we expect to accelerate revenue by engaging with big brands across all three of our platforms.”
As the demand for data insights increase, SRAX is confident in growth prospects across its verticals. During Q3, the Company raised $5.5 million through a registered direct offering. As of September 30, 2019, SRAX reported being debt free, having cash and cash equivalents on hand of $2.8 million, and having approximately 13.9 million shares outstanding compared to 9.9 million in September 2018.
The best way to understand the BIGtoken platform is to join and discover how surveys are conducted and consumers are given control over personal 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
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