- SRAX’s BIGtoken platform announced their merger with BritePool Inc on September 27th, with both entities officially completing their merger on December 2, 2021
- SRAX have simultaneously revealed that they will no longer consolidate BIGtoken’s financials within their financial results
- Post-merger, SRAX’s core operations will focus on investor intelligence SaaS platform, Sequire, which now boasts over 9 million followers and 250 corporate subscribers
- Sequire has forecast to report $16.5 million in 4Q21, an accomplishment which would mark the company’s 12th consecutive quarter of revenue growth
SRAX (NASDAQ: SRAX) a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has recently announced that it will no longer have to consolidate the financials of its former subsidiary, BIGtoken, Inc (https://ibn.fm/ULbBn).
BIGtoken, a proprietary consumer insights platform founded and operated by SRAX, Inc, was created with the purpose of enabling the over 16.7 million consumers on their platform to both own and monetize their digital data in an efficient and transparent manner. In turn, the platform’s customers – which encompass some of the world’s largest corporations– can submit questionnaires and surveys to BIGtoken’s subscribers, receiving rapid and actionable consumer data to help them better understand and serve their chosen audiences (https://ibn.fm/jRSRH).
On September 27, 2021, BIGtoken and BritePool, Inc, a leading identity verification company for advertisers and publishers, jointly announced that the companies had entered into a merger agreement, in an all-stock transaction (https://ibn.fm/KhJn8). Both companies formally announced the completion of their merger as of December 2, 2021, with the combined entities changing their corporate name to BIGtoken, Inc. In addition, the merged entity revealed that they had applied with FINRA to change its Over-The-Counter (“OTC”) trading symbol, with the new trading symbol to be announced upon FINRA’s approval.
The merger also involved a management reshuffle, with David J. Moore, co-founder, and former CEO of BritePool, being appointed as the CEO of BIGtoken. Prior to founding BritePool, David Moore served as president of advertising giant, WPP Digital, and chairman of Xaxis, WPP’s digital arm.
Moore commented in relation to the merger, “By combining the capabilities and talent of our two organizations, BIGtoken is now poised for accelerated growth as a leader to deliver superior targeted marketing results for advertisers today and in the evolving privacy-oriented future.”
Following the spin-off of its BIGtoken subsidiary, SRAX’s core operations will be centred around Sequire, its investor intelligence SaaS platform which has grown to boasting over 9 million followers on their platform whilst simultaneously seeing their number of subscribers swell to 250 public companies, a dramatic increase relative to the 225 companies on their platform in the second quarter, and up from a mere 92 subscribers as of their Q3 2020 results.
Sequire has witnessed the company’s growth trajectory rise from strength to strength, with the company recently announcing the launch of their new IR website builder, their SMS communication platform, and VIRA, an IR-powered chatbot. SRAX and Sequire have also sought to provide additional value-added services to its legions of subscribers and followers by hosting the recent flagship and in-person LD Micro Event, an event which attracted over 750 in-person attendees and 12,000 virtual attendees.
During their recent quarterly earnings call, SRAX’s management raised their fiscal year 2021 guidance to $31.5 million, underpinned by a sharp increase in Sequire bookings, with the platform estimated to deliver total Q4 booked revenues of $16.5 million – further extending a run which has now seen Sequire report twelve consecutive quarters of revenue growth.
For more information, visit the company’s website at www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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