Three young Saudi entrepreneurs have gained funding for a new business that aims to link brand owners with young drivers who are willing to turn their cars into mobile advertisements. Salem Aljawini, Ahmed Aloraifi and Muath Altukhaifi have gained funding for their Riyadh-based firm Shiftah from Wa’ed Ventures, the venture capital firm owned by Saudi Aramco.
Although the company is only planning a formal launch next month, it has already carried out its first campaign in Riyadh for Saudi perfume company Al Dakheel, and is currently planning three more. Aljawini said he had initially felt that its business model for advertisers would have been more suited to small and medium-sized enterprises (SMEs) as they can control exactly how much they spend, and because the costs are about 50 percent cheaper than an outdoor campaign using static billboards, although he added it was difficult to give precise cost figures because a campaign’s value would depend on several factors such as the number of cars, the numbers of hours driven, the length of the campaign and the area of the city covered.
the costs are about 50 percent cheaper than an outdoor campaign using static billboards
“The main advantage of us compared to other shared economy applications is that we’re not requiring them to do any extra work. They’re just going through the daily commute and they’re earning money while doing that,” he said.
Source Credit: Zawya
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