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Does Investing Money in Press Releases Work for SEO?

Think twice before investing your money in ‘Press Release’ to get backlink to your blog/websites.

For those who don’t know what is Press Release and how we can get backlink from it

Press release is a process to release information about your product or service (it could be blog or website as well) in the form of news and this release contain link to your site. You submit this release to a ‘Press Release Company’ and then they publish it on their network sites.

In this way you get a lot of high PR backlink overnight and a high ranking in search engine result page.

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A member of ‘Google Webmaster Forum’ asked a question

Can Press Releases count as spam links?

In response to this question ‘Matt Cutts’ from Google has replied that,

Note: I wouldn’t expect links from press release web sites to benefit your rankings, however.

Above statement gives an indication that high PR links from Press Release will not add any value to your blog/website ranking.

I have a doubt about it, how Google Search algorithm differentiates which press release is genuine and which is in the market to get only backlinks.