Newsreps offers media consumers the chance to cash in on witnessing major events

newsrepsMost of us still turn to the conventional media sources, as we both trust them and value the context that they can provide. Swedish startup Newsreps is therefore looking to find the sweet spot between the two sides and help traditional media sources find exclusive local content that they can pass along to consumers.

We have seen something of this sort already, with television stations and websites requesting user-generated content during a particular event, but Newsreps is looking to formalize the process by offering a platform through which companies can pay for copyrighted content that users will submit. Companies sometimes get the process started by sending out requests, with a description, fee offered, time-limit, and location (national, local, or international, as well as a specific spot), but users can also offer tips and set their own terms. And, once a news task has passed its value, it can be sold to other companies.

Newsreps tells me that they decided early on that they wanted their platform to be free to the typical user and the startup has thus opted to charge clients a fee, depending on the service-level they require, as well as an administrative fee when payments are processed.

Despite only leaving beta last month, the startup claims 10,000 users and tells me that they are aiming to expand to 100 countries by the end of this year (they currently have users in 70+, including Europe, the United States, and MENA). Helping in their expansion efforts has been roughly $135,000 in funding, which they have picked up from a group of angels, all Swedish, who either work in media or are fellow entrepreneurs.

The startup also informed that they are planning to unveil some features, which they are developing while backed by a grant from Google’s Digital News Initiative, but declined to go into detail.

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