Disclosure: NewsCred has a syndication partnership with VentureBeat.
While the majority of demands for syndicated content comes from well-established publications like the New York Times, media outlets also need content that’s a bit more niche — either in subject matter or in the depth of reporting. With this in mind, startup NewsCred is today launching NewsRoom, a new freelance-based newswire.
NewsCred is attempting to reinvent the newswire business model established ages ago by the Associated Press. But unlike the AP, the startup doesn’t produce its own news, but it does offer to cut through all the red tape associated with syndicating premium content of third-party publications such as The Economist, Bloomberg, Gizmodo, VentureBeat, TheNextWeb, and the New York Times. And now, the company is expanding the number of sources it draws from even more through its NewsRoom network, which takes content from over 500 vetted freelance journalists, photographers, and designers.
“At NewsCred, we’re committed to helping the journalism industry not just survive, but truly thrive,” said News Cred founder Shafqat Islam in a statement.
The company stresses that the quality of articles produced by these freelancers is what will drive the service rather than the quantity produced. It’s also offering those freelancers 100 percent of fees for that content rather than taking a cut. That essentially means that NewsRoom will be an addon service to what NewsCred is already offering its clients.
NewsCred primarily makes its money through syndication deals, but for some clients — top brands like Pepsi, Dell, Visa, and Qualcom — NewsCred offers additional marketing services like smart-image galleries, polls, and timelines.
The move to create a large freelance network that doesn’t directly make money for NewsCred is gutsy, but it’s also pretty smart since it wants to offer its clients the best possible content available. And sometimes that means going outside of the typical publishing circles.
Founded in 2008, the New York-based startup has raised just under $20 million in funding to date from Floodgate, IA Ventures, and Naval Ravikant, FirstMark, Lerer Ventures, AOL Ventures, and others.
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