Data privacy has become an increasingly important topic over the past couple of years as corporations earn billions in profits from selling your information. As more and more people start to see this as a problem, the data privacy market has begun to grow even faster than before, with a CAGR of 40.8%. Furthermore, the Canadian parliament just introduced a new Privacy Protection Act under Bill C-27. It really shows how people are starting to notice how companies have misused data, and that power needs to be given back to the individual.
https://www.globenewswire.com/en/news-release/2022/04/05/2416642/0/en/Data-Privacy-Software-Market-Size-2022-2029-to-Hit-USD-25-85-Billion-Exhibiting-a-stellar-CAGR-of-40-8.html
$MYID.V is a company aiming to give users power and the ability to profit off of their own data. They do this in a few different ways.
- Brands and Agencies: Sales to companies looking to use the data for their own purchase/advertising decisions. They've already sold to 85 brands in 2021 alone.
- Integration of $MYID.V’s data to platforms where data is purchased globally, so fat rehire integrated with 15 of the top global platforms.
- Data companies looking to purchase data firsthand from $MYID.V.
Through these channels, $MYID.V has continued to see a lot of growth, with YoY sales up 217% and the number of brands buying data up 89%. With over 320M user data profiles, 87% of NA’s population can find themselves on $MYID.V’s platform once verified. Overall, considering the company's growth and the market's trajectory, the stock is looking highly undervalued here, with a market cap of only $7M. Definitely keep a close eye on them.