LOS ANGELES, 16 August, 2019: 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 billionand 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 BIG token 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.”