PRNEWS.IO is an alternative to expensive PR in the form of a content marketing platform. The online platform allows clients to publish branded content for widespread media coverage, and publishers of news sites to earn rewards.
The company intends to establish a presence in Saudi Arabia and the United Arab Emirates, where economic reforms have led to the explosive growth of the startup ecosystem.
By using big data, firms in Riyadh and Dubai are already saving tens of thousands of dollars annually. Mostly due to predictable results, no middlemen, and agency fees.
Over the next year, the company will invest $1.5 million in market development in the Middle East. The investment will focus on adapting the platform and building a team to fully meet the needs of both small and medium-sized businesses and government agencies.
According to PRNEWS founder and board member Alexander Storozhuk, "The kingdom encourages entrepreneurship among Saudis under the age of 30, which, according to various sources, makes up the majority of Saudi Arabia's population."
These entrepreneurs are developing tech startups with an eye toward international expansion. As the startup landscape in the region continues to grow, the battle for attention in the media space will intensify.
"Entrepreneurs are smart enough to understand the power of publicity in key global media to gain a competitive edge," Storozhuk says. The only problem is finding a communications agency on acceptable terms that is willing to do the job.
PRNEWS.IO simplifies the work and allows brands to get media coverage on favorable terms. The platform collects information on 76,000 hyper-local media and niche publications from 146 countries. Clients no longer need to communicate with each media outlet separately.
In the Middle East, 1,270 Turkish media outlets, 172 UAE news sites and 27 Israeli media outlets are already connected to PRNEWS. Together with PRNEWS, the company predicts that news outlets in that region will earn at least $11,5 million in the next three years.
"In the home country it is quite easy to find a suitable publication to publish a company story. But for foreigners it's not so easy because they don't have the right data at their fingertips about the popularity of certain media," Storozhuk says. - "PRNEWS.IO provides clients with data to make a decision for free. And, in fact, the client only pays when the media publishes their story."
