Network18s Internet company Web18 is planning to relaunch UrbanEye Media, a company founded by current Web18 COO Rishi Khiani; UrbanEye has been acquired by Web18 in 2007. While I may not have quite agreed with Web18s approach over the past two years, I have been a fan of UrbanEye’s work, and their focus on usability.
What’s interesting about this development is that the company is looking to resurrect a revenue stream – Services – while another (Advertising) may be on the decline. Khiani told MediaNama that they have a development team of around 30 people at UrbanEye; when the company was acquired, they were about 27 people.
With the services business coming into the picture, the company will have one team working on Web18 properties and products, while another will be focused on external clients. Khiani says that they’ve been getting inquiries for developing “large portals” for quite a while now. But is the services business supposed to compensate for a decline in advertising revenues? Khiani says no – there is no decline, and they’re looking more at additional revenue streams. Web18 also plans to add some B2C features on In.com – like ringtone downloads, as an additional revenue stream.