Krux has built technology using a cloud infrastructure allowing companies like Edmunds.com, Tribune, and Omnicom Media Group to buy and sell data through a peer-to-peer data platform.
Link, the platform, gives control to the buyer and seller by allowing the two to directly transact business. Sellers set the price and confirm or deny the deal. The companies can choose to buy and sell to each other in massive quantities or on a CPM basis for individual audience segments supporting a variety of campaigns from display to social or search retargeting. The platform also allows two or more companies to share data.
"Increasingly big strategic data deals are happening between auto publishers and car manufacturers where the car manufacturer will have unlimited data use in exchange for a significant commitment -- worth six or seven figures -- to the auto publisher," says Michael Moreau, according to chief solutions officer and GM at Link.
The platform aims to solve the problem around the industry's lack of transparency and clarity to costs throughout the data supply chain.
Krux, which takes a fee for facilitating the transaction, also monitors its use, meaning it confirms the data gets used in the manner in which the seller intends. Whether a $10 CPM or $50 CPM deal, Krux changes $0.25 fee on each side of the transaction, buyer and seller, Moreau says.
While the majority of the data comes from demographic and behavioral data, Krux also makes available on-site search data. It doesn't include search data from Apple's, Google', Bing's or Yahoo's engines, Moreau says.
In addition to about 50 publishers using the platform today, retailers with an ecommerce site can target offers based on what it knows about a site visitor's behavior or demographics. About 30 large marketing companies such as WPP's Xaxia buy through the platform.
Selling the data requires the brand to embed a tag on a Web site page, which allows Krux to collect segment and process data. Through the Krux data management platform, the seller decides the audience segment it wishes to sell. It sets the minimum price, and authorizes the sale. All transactions are approved by the seller.
Buyers of data come to the Krux store front or through the DMP. Krux also can send the data to a demand-side platform of choice, allowing buyers to purchase audience segments or data types requested.