Beeb Ventures, the commercial internet division of the BBC, is expanding its remit after winning the contract to sell advertising for two Reuters websites.

The Beeb Ventures sales team will sell advertising on reuters.co.uk, which will develop into a personal finance portal, and Kalends, the recently launched website which lists future events in business, entertainment and sport.

It is the first time Beeb Ventures has acted for an outside client and underlines the sharply commercial nature of the business. The division attracted private sector criticism last year for relaunching its main website, beeb.com, as a shopping portal.

Last August, the corporation's broader commercial arm, BBC Worldwide, sold a 13.5% stake in the operation to a US private equity firm, TH Lee Global Internet Managers, for £32.5m.

Both shareholders will be keen to expand Beeb Ventures' revenue base. On the BBC side, profits are channelled back to the corporation. TH Lee is eager to increase Beeb Ventures' value for the US firm's exit in the next three or four years.

BBC Worldwide last year contributed £96m to the corporation and has a target of increasing that figure fourfold in the current charter period.

The BBC has raised the possibility that Beeb Ventures could be its first exposure to the stock market, though the appetite for internet stocks would need to improve.

Beeb.com features shopping guides linked to programme brands including Top Gear, Gardeners' World, Holiday, Good Homes and Top of the Pops. It also features online versions of BBC Worldwide magazine formats including Radio Times.

Beeb Ventures won the contract in a competitive pitch against other media sales operations. Sales director Matt Teeman said: "I'm keen to offer similar services to other online players that don't compete with the beeb.com proposition."