PRNEWS.IO, the leading platform in Europe for sponsored content, recently announced the incorporation of a wholly-owned subsidiary, PRNEWS LIMITED, in Hong Kong. The establishment of the subsidiary aims to enhance PRNEWS.IO's service standards in the Asian market and streamline payment operations, ultimately facilitating increased sales. Incorporating PRNEWS LIMITED in Hong Kong will not only allow payments to publishers outside the European Union but also mitigate risks and broaden product delivery to various countries while improving after-sales services.
With Asia currently accounting for 5% of PRNEWS.IO's sales revenue, the decision to establish PRNEWS LIMITED in Hong Kong aligns with the company's expansion plans in a growing market landscape. Anticipating significant growth, PRNEWS.IO aims to triple this figure to 15% within the coming year, leveraging its extensive catalog that features over 27,000 Asian media outlets.
The subsidiary's strategy includes tailored services and expanding its catalog of media outlets, to foster closer relationships with publishers and clients in the region. This approach ensures a better understanding of market needs and effective communication of marketing messages.
Commenting on the new subsidiary, Founder Alexander Storozhuk stated, "Establishing PRNEWS LIMITED in Hong Kong underscores our commitment to global expansion. This strategic move enables us to forge deeper connections within the Asian market, fostering new collaborations and tailoring our services to precisely meet the region's evolving needs. With our track record of delivering 1.7 million Euros to media outlets for brand-related content in 2022, we anticipate replicating this success in Asia for the upcoming year."
PRNEWS.IO celebrated recent accomplishments, winning the 2023 Go Global Awards in the Newswire category and being named one of the 50 Most Innovative Companies in Marketing Technology at the 2023 TMW 100 Awards earlier this month. These recognitions by the International Trade Council (ITC) and The Martech Weekly, respectively, highlight PRNEWS.IO's innovative technologies and outstanding achievements in international markets.
Back in August, PRNEWS.IO joined the "Google for Startups Cloud Program", to integrate cutting-edge artificial intelligence into its digital communication strategies. The program launched a year ago, provides startups with essential resources on Google Cloud to kickstart their journey into innovative technologies.
PRNEWS.IO's content marketing platform helps companies build a strong brand presence and effectively share news and stories with desired target audiences. Its extensive global network connects brands with over 100,000 media outlets across 198 countries, enabling them to purchase article placements without hiring processes or long-term commitments.
Founded in Estonia by Ukrainians in 2018, PRNEWS.IO operates on a service-as-a-product (SaaP) model, leveraging big data for predictable brand communications through media stories. Additionally, the company serves as a provider for the Estonian government-issued digital identity and status program, e-Residency.
As part of its commitment to empowering professionals in the digital landscape, PRNEWS.IO has recently added a valuable new service: Quotte, a platform where journalists find the facts for their stories and connect with verified experts effortlessly. Quotte enables experts to get featured in the news, allowing them to join Quotte's expert community and receive inbound interview requests from journalists seeking their expertise.