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.
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.
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.
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