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ZEE Media to invest Rs 8.76 crore in "PR tech platform" NewsReach
ZEE Media, through its wholly owned subsidiary IDPL, has entered into an agreement with media, PR and advertising firm Vyomeen Media Pvt Ltd (NewsReach) to invest Rs 8.76 crore.
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ZEE Media, through its wholly owned subsidiary Indiadotcom Digital Private Limited (IDPL), has entered into an agreement with media, PR and advertising company Vyomeen Media Private Limited (NewsReach) to invest Rs 8.76 crore.
NewsReach calls itself a "PR solution platform provider connecting advertisers to their target audience." Incorporated in August 2018, NewsReach provides PR and advertorial support and inventories to companies across India and abroad. Its services also include helping content creators to buy, sell and license their content through their platform.
Founded by Darshan Shah and Soniya Kundnani, the "PR tech platform" Newsreach's website states, "Our goal is to achieve unparalleled outreach and optimal influence by aligning businesses with their precise target audience in ideal locations. We take immense pride in presenting our innovative marketplace, empowering content creators to Engage, Trade, and License their content for cooperative efforts and financial gain. Our commitment, proficiency, and foresight are reshaping the landscape of the PR industry."
ZEE Media's investment in NewsReach through IDPL will happen in tranches and the first tranche of investment is expected to be completed by or before June 30 of this year.
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