LOS ANGELES, Aug. 14, 2019 /PRNewswire/ -- SRAX, Inc.
(NASDAQ: SRAX), a digital marketing and consumer data management
technology company, signed a joint venture with the Yash Birla
Group to launch BIGtoken in India.
Based in Mumbai, the Yash Birla
Group, one of India's largest
conglomerates, has diversified interests in consumer and industrial
products.
"BIGtoken's unique data management platform is a great fit for
our diverse consumer product portfolio and India's growing marketplace," said
Anant Vardhan Pathak, President of
Melstar Information Technologies, a Yash Birla Group Company.
"Building a data asset that aggregates anonymized information will
help us reach the right consumers in India and drive sales. Providing a tool for
consumers to earn from the value of their data is a huge
opportunity for the Indian people and creates a new approach to
corporate value creation."
This partnership will bring BIGtoken's platform to India, which has a digital population of 627
million. The India digital
advertising market is $3.5 billion
and set to grow at a compound annual growth rate of 32%, making it
one of the largest growing digital ad markets in the world.
BIGtoken data will be an essential part of this growth and has the
possibility of becoming the most valuable opted-in consumer data
set in India, driving long-term
value for SRAX shareholders.
"BIGtoken has attracted a global subscriber base as consumers
seek opportunities to take control of their data," said SRAX's CEO
and Founder Christopher Miglino.
"The Yash Birla Group brings to our partnership all the assets that
are needed to quickly monetize and grow the value of our BIGtoken
data in India and we couldn't be
more excited to partner with them. As the second largest population
in the world with a rapidly rising middle class, India is ripe for an advertising
evolution. Advertisers need specific data to effectively
understand the growing pool of consumers, and BIGtoken accelerates
this process. Our geographical expansion furthers our mission to
become the undisputed platform offering everyone in the world
choice, transparency, and compensation for their data, while
building the world's most valuable opted-in data set."
About Yash Birla Group
Yash Birla Group is an Indian
industrial conglomerate group based in Mumbai. The Group has diversified interests in
industries like steel pipes, machine tools, cutting tools, tool
holders, iron castings, power solution products, multipurpose
engine pumps, electrical appliances, textiles, carpets,
furnishings, and more. Today, the Group has 10 publicly-listed
subsidiaries in India. The
chairman, Yashovardhan Birla, is a member of the Birla family,
which started several of the businesses that were the origin of the
Group.
About SRAX
SRAX, Inc. (NASDAQ: SRAX) is a digital
marketing and consumer data management technology company. SRAX's
technology unlocks data to reveal brands core consumers and their
characteristics across marketing channels. Through the BIGtoken
platform, SRAX has developed a consumer-managed data marketplace
where people can own and earn from their data thereby providing
everyone in the Internet ecosystem choice, transparency, and
compensation. SRAX's tools deliver a digital competitive advantage
for brands in the CPG, automotive, investor relations, luxury, and
lifestyle verticals by integrating all aspects of the advertising
experience, including verified consumer participation, into one
platform. For more information on SRAX, visit www.srax.com.
About BIGtoken
BIGtoken, built by SRAX (NASDAQ: SRAX),
is a consumer data management and distribution system. BIG is the
first consumer-managed data marketplace where people can own and
earn from their data. Through a transparent platform and consumer
reward systems, BIG provides consumers choice, transparency and
compensation for their data. Participating consumers earn rewards,
and developers are able to build pro-consumer online experiences on
top of the BIG platform. The system also provides advertisers and
media companies access to transparent, verified consumer data to
better reach and serve audiences. For more information on BIGtoken,
visit www.bigtoken.com.
Safe Harbor Statement
This press release contains
certain forward-looking statements that are based upon current
expectations and involve certain risks and uncertainties within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Words or expressions such as "anticipate," "plan," "will,"
"intend," "believe" or "expect'" or variations of such words and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements,
including, without limitation, statements made with respect to
expectations of our ability to increase our revenues, satisfy our
obligations as they become due, report profitable operations and
other risks and uncertainties, as set forth in our Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q, as filed with the
Securities and Exchange Commission. All forward-looking statements
involve significant risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements, many of which are generally outside the control of SRAX
and are difficult to predict. SRAX undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise.
Contact Information:
Kirsten
Chapman/Mary Magnani, LHA
Investor Relations, +1 415 433 3777, srax@lhai.com
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