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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 its 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.
Considerations:
- Increased number of registered BIGtoken users to 15.9 million in six months
- Invited to be a board member on the Interactive Advertising Bureau (IAB) Data Policy Board
- Deloitte Tech Fast 500 Winner
- Member of the Russell Microcap® Index
- Sold healthcare vertical, SRAX MD, for a $43.5 million consideration, retaining 31% ownership in new SRAX MD entity; 2017 revenue was $8 million out of $26 million
- SRAX revenue potential for BIGtoken projected at $400 million by January 2022
- Worldwide spending on big data and business analytics solutions reached $166 billion in 2018 and is projected to surge to $260 billion by 2022
- Financial highlights for Q2 2019 include an increase in total gross margin to 55% in the second quarter, compared to 42% in Q1 2019; vertical revenue increased 132% in Q1 2019 in year-over-year growth
- Raised $1 million at $5 per share in a private placement to support the launch of BIGtoken across Asia
- Raised $7.8 million: $6.7 million from a registered direct offering and $1.1 million from warrant conversion
- Raised $5.5 million from a registered direct offering, subsequent to quarter end
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