• January 22, 2009

Rich media ad company EyeWonder said Wednesday its 2008 revenue increased 67% over last year, though the privately-held company declined to provide actual figures. EyeWonder also expanded internationally, opening an office in Sydney, Australia.

But with image-based advertising under pressure because of the recession, EyeWonder acknowledged 2009 will pose a tougher challenge to its business. "Certainly display advertising has taken a hit during this recession and is a concern for everyone in the ad industry," said CEO John Vincent. "However, EyeWonder invested in 2008 in our service and product offerings, and our hope is to be a partner to agencies who have recently had to scale back on their workforce."

Rich media ads accounted for 7% of online advertising during the first half of 2008, according to a study conducted by the Interactive Advertising Bureau and PricewaterhouseCoopers.--Mark Walsh