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Files under: News
Posted by: admin @ 00:56 [15. 07. 11]
Mail.ru Group, which complteted $1 billion IPO in London in November 2010, has exercised its option to acquire an additional 7.44% equity stake in VKontakte for $111.7 million. As a result, Mail.ru Group increased its equity stake in VKontakte to 39.99%, the company announced.
The acquisition implies Vkontakte valuation of $1.5 billion.
Russia’s largest social network Vkontakte, which generates monthly revenues of over $10 million, mulled IPO plans last month. Launched in late 2006, has over 140 million registered users, of which 25.5 million visit Vkontakte daily, according to its website.
Tags: Mail.ru Vkontakte, vkontakte, Vkontakte IPO, Vkontakte valuation, Vkontakte value, Vkotakte
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