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Vkontakte May Do IPO in 2012; Will Join Billion Dollar Valuation Club

Files under: News
Posted by: admin @ 04:33 [24. 06. 11]

The largest Russian social network Vkontakte is in early talks with investment banks regarding IPO in New York in 2012, according to Bloomberg news.

Launched in late 2006, Vkontakte reported revenues of $94 million in 2010. VKontakte revenues is expected to increase more than 30% to over $120 million in 2011. Vkontakte‘s monthly audience reached 23.5 million in April 2011, according to TNS Web Index. Vkontakte.ru has some 139 million registered users, of which more than 25 million visit Vkontakte daily, according to its website. VKontakte can also be used via VK.com.

Mail.ru Group, which owns a 32.5% stake in Vkontakte (“В Контакте” in Russian), valued Vkontakte at $1.5 billion in November 2010 when Mail.ru acquired an additional 7.5% stake in VKontakte for $112.5 million.

Russia’s leading search engine and contextual advertising company, Yandex raised over $1.3 billion at IPO on NASDAQ in May 2011.

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