BIGtoken expands to India where the $3.5 billion digital advertising market is set to grow at a compound annual growth rate of 32%
Mumbai: Melstar Information Technologies Ltd, a part of the Yash Birla Group, signed a joint venture with SRAX, a digital marketing and consumer data management technology company to launch BIGtoken in India. The merger is set to advance the current growth of digitalization.
“BIGtoken’s unique data management platform is a great fit for our diverse consumer product portfolio and India’s growing marketplace. 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”, said Anant Vardhan Pathak, Managing Director, Melstar Information Technologies Ltd. and President, Yash Birla Group.
Christopher Miglino, CEO and Founder, SRAX,said“BIGtoken has attracted a global subscriber base as consumers seek opportunities to take control of their data. As the second largest population in the world with a rapidly rising middle class, India is ripe for an advertising evolution. Advertisers will need specific data to effectively understand the growing pool of consumers, and BIGtoken will accelerate 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.”
This partnership will bring BIGtoken’s platform to India, which has a digital population of 627 million. The 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.
Earlier in May 2019, SRAX announces plans to launch BIGtoken across Asia with an investor familiar with the Asia markets investing $1 million into SRAX at $5 per common share in a private placement.