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Founded Year



Acquired - II | Acquired



About Vkontakte

Vkontakte is a social networking website. It offers an online platform that helps users to create personal profiles, and share multimedia content including photos, videos, and links. The company was founded in 2006 and is based in 2006 and is based in St. Petersburg, Russian Federation.

Headquarters Location

Невский проспект, 28

St. Petersburg, 191186,

Russian Federation

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Latest Vkontakte News

VK Company Limited audited IFRS results for Q4 and 2022

Mar 16, 2023

March 16, 2023. VK Company Limited (LSE, MOEX: VKCO, hereinafter referred to as “VK” or “the Company”) releases audited IFRS results and segment financial information for Q4 and 12 months of 2022. KEY VK HIGHLIGHTS FOR FY 2022: VK revenue grew by 19% to RUB 97.8 bn in 2022. Revenue growth was driven by 29% growth in online advertising sales in comparison with 2021. The main growth drivers of advertising were: performance formats with 59% YoY growth; the SME segment with a 2.1x YoY growth. Adjusted EBITDA rose by 8,9% YoY to RUB 20.0 bn in 2022 with an EBITDA margin of 20.4%. This was due to the growth in profitability of the “EdTech” and “VK Tech” segments – by 15 p.p. and 17 p.p. YoY, respectively. Total comprehensive loss in 2022 fell by RUB 12.4 bn YoY from RUB 15.3 bn in 2021 to RUB 2.9 bn, in part due to restructuring and optimization of the Group's assets. As of the end of 2022, users of VK services accounted for over 90% of the total Russian Internet monthly audience*. VK continued to increase the audience of its platforms while also increasing user engagement: In Q4 2022 the average DAU of all VK services reached a record of 73 mn users*; In Q4 2022 time spent across VK services increased by 18% YoY, averaging 3.4 bn minutes per day*. The growth of key audience indicators was ensured by the implementation of VK's updated strategy aimed at strengthening its leading position in the market of content focused entertainment and educational IT products and active development in the segments of innovative solutions for businesses. * Source: Mediascope, Q4 2022, Russia 0+, age 12+, desktop and mobile devices FINANCIAL RESULTS OF OPERATING SEGMENTS FOR 2022 Segment performance for 2022 Group 20.4% Taking into account the substantial business transformation and in order to enhance the quality and transparency of the Group's financial reporting, VK has adjusted the provision of key segmental financial information in accordance with the current asset composition starting from Q4 2022 reporting. The “Communications & Social” segment has been renamed into “Social networks & content services” to reflect the increasing emphasis on media and content projects, launches of new internal business functions for media strategy and influencer activity, and the acquisition of Dzen. Given the similar nature of activities and business drivers, services such as VK Calls, VK Clips, and VK Video have been included in this segment. These projects were previously part of the “New Initiatives” segment. The revenue of VK's key “Social networks & content services” segment increased by 22% YoY in 2022 to RUB 75.1 bn, while its Q4 2022 revenue increased by 30% YoY. The segment's EBITDA margin in 2022 stood at 34%. The main drivers of growth were: The growth of the VKontakte social network, VK's biggest asset. Its average MAU in Russia in Q4 2022 increased by 9.6% YoY to a record 79.5 mn users, while DAU grew by 8.9% YoY to a record 51.1 mn users. The growth of the audience and its engagement led to a 29% increase in VKontakte's revenue in 2022. In Q4 2022 VKontakte's revenue grew by 31% YoY. The acquisition of the Dzen and News platforms in September 2022. The average MAU of Dzen’ newsfeed in 2022 was 70 mn, and the number of active creators doubled to 100,000 per week. “EdTech” segment revenue grew by 4% in 2022 to RUB 11 bn. At the end of December 2022, the number of registered students of VK’s education platforms rose by 28% YoY, reaching over 13 mn. Adjusted EBITDA was positive in 2022, reaching RUB 337 mn, while EBITDA margin rose by 15 p.p. YoY to 3%. Given VK's increasing emphasis on providing technologies for business and their growing revenue share, a number of B2B services developed internally under the VK Tech brand were moved from the “New Initiatives” to a standalone “VK Tech” segment. “VK Tech” was the fastest growing VK segment in 2022. Its revenue increased by 83% YoY to RUB 5.8 bn, with revenue more than doubling in Q4 2022 YoY. The segment's EBITDA margin increased by 17 p.p. YoY to 20% in 2022. “New business lines” segment is in the active investment phase. It includes such new products and services such as VK Play and RuStore. SOCIAL NETWORKS & CONTENT SERVICES SEGMENT Social networks & content services segment performance - Q4 & 2022 RUB billions, -5.9pp Main projects: VKontakte, Odnoklassniki, Dzen, Pulse, Portal, e-mail, VK Music, VK Clips, VK Video, VK Messenger The revenue of the “Social networks & content services” segment in Q4 2022 increased by 30.3% YoY, reaching RUB 24.0 bn. The growth in online advertising income was the primary driver of revenue growth. Revenue increase VKontakte, in particular, reached 31% YoY. Revenue from the Dzen and News projects has been included in the segment revenue since their purchase in early September 2022. Adjusted EBITDA lost 15% YoY and reached RUB 6.3 bn in Q4 2022, with a margin of 26% versus 40% in Q4 2021. EBITDA was impacted by major product launches and upgrades of existing services, accompanied with growth in hiring and marketing activities. VKontakte VKontakte continued to strengthen its leading position among Russian social networks: the average MAU in Q4 2022 grew by 9.6% YoY to a record of 79.5 mn users. The global average audience of VKontakte in Q4 2022 reached a record high of 101.7 mn monthly active users, while the average DAU in Russia grew by 8,9% compared to Q4 2021 to a record of 51.1 mn users. In Q4 2022, the average total time spent on VKontakte was 45.2 minutes per day*. VKontakte was reaching a record 86% of the Russian internet audience in December 2022, with 54% of users visiting the platform daily**. One of the most exciting launches in Q4 of 2022 with an emphasis on audience engagement was the development of deepfake technology for UGC content, where neural networks can replace users' faces with celebrities' faces in VK Clips and VK Video with a single click. VKontakte also actively implements Web3 technologies. NFT transactions can now be carried out in the new VK NFT service without leaving the social network. More than 6.3 bn units of content, including posts, clips, articles, videos, music, and other formats, were published on VKontakte in 2022. News feed views increased by 47% in Q4 2022 compared to Q4 2021, owing to improved recommendations and greater audience engagement. The number of approved friend requests increased by 31% YoY. VKontakte is actively developing Communities: the total number of active creator public pages in December 2022 increased by 13% YoY and reached 2 mn. VKontakte continues to add new ways for communities and creators to monetize their content. The number apps on the VK Mini Apps platform increased in Q4 2022 by 90% YoY to 75,380. The platform's MAU increased by 8% to 44.6 mn people in Q4 2022 compared to Q4 2021, and in-app ad revenue of mini apps increased by 95% over the same period. The number of mobile games in the VKontakte catalog in Q4 2022 increased by 132% YoY, and revenue from in-game purchases on mobile devices increased by 91%. * Source: Mediascope, Q4 2022, Russia 0+, age 12+, desktop and mobile devices; ** Source: Mediascope, December 2022, Russia 0+, age 12+, desktop and mobile devices. Odnoklassniki (OK) Average Russia MAU for OK stood at 36.6 mn in Q4 2022. Audiences demonstrated strong engagement in Q4 by sending more than 8.3 bn virtual gifts, 614 mn postcards and 543 mn stickers. OK continues to expand its content services within the social network. OK relaunched its recommendation system with a focus on creator content. As a result, the time spent on the social network's feed increased by 28% YoY in Q4, while groups of bloggers and media got an increase in reach by 78% YoY. The reach of bloggers’ content increased by 1.5x YoY and the share of content made by communities in users' feeds grew from 31% to 46%. OK was updated in September as part of the social network's new positioning, and launched a new service called Hobbies, which shows content about users’ particular interests and hobbies. More than 21.4 mn people per month watched Hobbies in Q4 2022. Moments (vertical, full-screen photos and videos that disappear after 24 hours) average MAU reached 28 mn in Q4 2022 (+4.7% YoY). The number of views stood at 456 mn (+11% YoY). Dzen Dzen, a key multi-format platform for viewing and distributing content on a variety of subjects, joined VK on September 12, 2022. Every month, over 70 mn people read articles and posts, watch vertical and long videos in the Dzen newsfeed. Dzen relaunched its mobile app in Q4, added a new way to sign in to the platform using VK ID, and also gave creators the option to transfer funds earned from platform monetization to bank cards and through the payment service VK Pay. The platform's content will continue to grow with Pulse integrated into Dzen since March 2023. The merger is taking place under a single Dzen brand and its technology foundation, which includes a sophisticated recommendation system. Furthermore, Dzen will serve as a unified entry point for all creators, providing simple tools for making, distributing, and monetizing content. Every week, over 100,000 active authors make content on the platform – their number doubled in 2022, and the number of topics increased fivefold. Email remains the largest email service in Russia. The product’s audience continues to grow, with DAU up by 5% YoY in Q4 to 18 mn people and average MAU up by 5% to 50 mn*. The service's revenue exceeded RUB 1 bn for the first time in Q4 2022, rising by 28% YoY. VK Clips Daily views of VK Clips reached 836 mn (+127% YoY) in Q4. The number of new Clips published rose by 346% YoY and the number of content creators increased by 133% YoY. VK Video VK Video average daily views (not including VK Clips) reached 1.96 bn in Q4 (+36% YoY). The platform's library of professional content continues to grow: by the end of 2022, VK Video featured around 100,000 titles in films, TV shows and series from over 130 copyright owners. *Source: Mediascope Cross Web, Q4 2022, Russia, age 12+, desktop and mobile devices; In 2023, VK Video will continue to focus on attracting new users and developing the platform both within the VKontakte and Odnoklassniki social networks and as a standalone app. VK Music Average MAU for VK Music stood at 46.5 mn in Q4 2022. The service's subscriber base grew by 34% from September to December 2022. VK Records, a new business line, was launched in September 2022, which will create and manage its own music labels. Two live music venues were also opened in Q4 – VK STADIUM with a capacity of 7,000 people and VK Gipsy with a capacity of 2,500 people. VK Messenger The average MAU of VK Messenger in Q4 2022 grew by 3.7% to 66.2 mln users. VK Messenger was launched as a standalone app in May 2022 with the number of installations reaching 4.5 mn by the end of 2022. New features have been added to Messenger – chats can now be organized into folders, and multiple profiles can be created within the same app. Users can now browse communities as channels, receive notifications from federal services portal Gosuslugi, and pay fines without commission. VK Messenger has significantly accelerated the service’s performance and the speed of video downloads, increased the maximum size of sent files to 4 GB, and introduced video messages with recording templates. VK Calls VKontakte introduced shared video content streaming in VK Calls in Q4 2022, with real-time reactions and no limit on the number of viewers. The service introduced animated vmoji, allowing VK Calls users to participate in meetings using personal avatars instead of live webcam videos. EDTECH SEGMENT Main projects: Skillbox, GeekBrains, SkillFactory, Mentorama, Lerna, Sferum The “Education” segment was renamed into “Educational Technologies” or “EdTech”. It combines VK's consolidated online learning platforms and educational technologies providing services to individuals and businesses. In 2022, the segment achieved a sustained positive Adjusted EBITDA. In particular, EdTech delivered EBITDA of RUB 189 mn in Q4 2022 compared to RUB 719 mn in Q4 2021 with EBITDA margin of 6%. At the end of December 2022 VK education platforms saw the number of combined cumulative registered students grow by 28% YoY to more than 13 mn, with 1.2 mn in new registrations during Q4 2022. Cumulative number of paying students reached 519,000 (+49% YoY), with 54,000 new paying students joining in Q4. The overall number of courses and programs at the end of December 2022 was 1,641. The average check in Q4 2022 reached RUB 67,000 (+11% YoY)*. * Operating data covers only Skillbox Holding Limited companies. VK TECH SEGMENT Main projects: VK Play, RuStore, VK Pay, Youla, Marusia, Capsule, ESforce, Movika The “New Initiatives” segment was reorganized into “New business lines”. It represents recent launches or acquisitions, as well as assets that are not significant as standalone assets when analyzing VK's business activities. The segment’s revenue totaled RUB 2.1 bn (-9% YoY) in Q4 2022. Adjusted EBITDA loss in Q4 amounted to RUB 2.1 bn (vs. the loss of RUB 1.0 bn in Q4 2021). EBITDA margin in the Q4 came in at negative 101% against negative 45% in Q4 2021. In Q4 2022 VK continued to invest in several fast-growing services, including the VK Play gaming platform, the RuStore app store and other initiatives. Youla The asset achieved a positive adjusted EBITDA margin for the full financial year for the first time. VK Play VK Play ended its beta phase in October 2022. The number of developers on the platform doubled in the second half of 2022, reaching 600 in December 2022. Over 12 mn accounts were registered on the platform by the end of Q4 2022. Average MAU for the last 30 days of 2022 exceeded 11 mn. VK Play Live streaming platform, which was launched on VK Play in August 2022, completed its closed beta test phase at the end of November 2022. In November 2022, VK Play Live launched its mobile app. As a result, by the end of 2022, more than 52,000 streams were conducted on VK Play Live and more than 12,000  streamers were registered. In 2023 VK Play will continue focusing on developing the platform and attracting new users. RuStore RuStore is Russia's largest app store for Android devices. Its average MAU reached 7 mn people in 4Q. As of December 2022, RuStore had around 3,700 apps and over 2,000 developers. In January 2023 average MAU reached 10 mln users. In February the product completed beta testing and allowed international developers to publish their apps. This year, RuStore plans to continue focusing on expanding functionality, attracting new users and developers. Voice technologies (Marusia and VK Capsule) In October 2022 VK launched its VK Capsule (the smart speaker with Marusia voice assistant) in new color options and presented a new VK Capsule Neo smart speaker in December 2022. Marusia voice assistant DAU increased more than 1.5-fold at the end of 2022, thanks in part to greater integration with the company's various products. GAMES SEGMENT On September 27, 2022 VK announced the sale of MY.GAMES. The deal included all MY.GAMES assets such as its studios and game products. The total deal value amounted to USD 642 mn and was closed in Q4 2022. The segment and its performance figures were excluded from financial statements for 2022, according to the IFRS 5 requirements due to the sale of the asset. JOINT VENTURES VK KEY CORPORATE EVENTS IN Q4 2022: VK completed the sale of MY.GAMES. The company continues to develop its own local gaming services under the VK Play brand. In October 2022 VK's subsidiary ITR acquired 87.2% in Movika, the developer of a platform for short videos, and in December 2022 VK announced it signed an agreement to acquire 51% in Medium Quality Production, a leader in digital video content creation in the CIS. Both deals were a part of the company's strategy to expand its content services. In December 2022, the company opened VK STADIUM, its first own concert venue. On November 10, 2022, VK announced that Prosus ceased to be a shareholder in the Company by way of renouncing its shares to the Company for nil consideration. Prosus held a 25.7% economic stake. This stake was subsequently sold to Singularity Lab to support VK's future long-term management motivation programs. VK bought back around 66% of its total convertible bond issue with a nominal value of ~$263 mn as part of the restructuring carried out before the end of 2022. KEY EVENTS AFTER THE REPORTING DATE On February 13, 2023, the VK Board of Directors approved the possibility of the company’s re-domiciliation from the British Virgin Islands to the Russian Federation, subject to the company’s ability to meet all the applicable legal and regulatory requirements. VK plans to maintain its public company status and will provide regular updates on the re-domiciliation process; On February 20, 2023, VK consolidated, the largest online platform for schoolchildren, by buying out the remaining 75% of the company. The deal’s value reached RUB 8.7 bn. The acquisition will strengthen VK's foothold in the segment of extracurricular education for schoolchildren; On March 9, 2023, VK announced an acquisition of 51% stake in Didenok Star, the largest communication agency specializing on working with celebrity bloggers For further information please contact: VK IR team EBITDA This release presents Adjusted EBITDA, which is a non-IFRS financial measure. MY.GAMES has been excluded from all measures in accordance with IFRS 5 due to the disposal of the asset at the end of Q3 2022. Cautionary Statement regarding Forward Looking Statements and Disclaimers This press release contains statements of expectation and other forward-looking statements regarding future events or the future financial performance of the Group. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "forecast", "intend", "will", "could", "may" or "might", the negative of such terms or other similar expressions including "outlook" or "guidance". The forward-looking statements in this release are based upon various assumptions that are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and may be beyond the Group's control. Actual results could differ materially from those discussed in the forward looking statements herein. Many factors could cause actual results to differ materially from those discussed in the forward looking statements included herein, including competition in the marketplace, changes in consumer preferences, the degree of Internet penetration and online advertising in Russia, concerns about data security, claims of intellectual property infringement, adverse media speculation, changes in political, social, legal or economic conditions in Russia, exchange rate fluctuations, and the Group's success in identifying and responding to these and other risks involved in its business, including those referenced under "Risk Factors" in the Group's public filings. The forward-looking statements contained herein speak only as of the date they were made, and the Group does not intend to amend or update these statements except to the extent required by law to reflect events and circumstances occurring after the date hereof. About VK VK is one of the largest technology companies in Russia. Its products help millions of people with their day-to-day needs online. More than 90% of the Russian internet audience use VK services, which enable people to keep in touch, play video games, master new skills, listen to music, watch and create video content, buy and offer goods and services and fulfill wide range of other needs. The company provides a number of solutions for digitizing business processes, from online promotion and predictive analytics to corporate social networks, cloud services and enterprise automation. The information contained in this Announcement is considered by the company as insider information, in accordance with the Regulation on Market Abuse (Regulation 596/2014/eu), as it is part of the domestic legislation of the United Kingdom in accordance with the European Union Act 2018 as amended. After the publication of this announcement through the required disclosure service, this insider information is recognized as publicly available. CONSOLIDATED FINANCIAL STATEMENTS FOR Q4 AND 2022 The Group's consolidated financial statements for Q4 and twelve months ended 31 December 2022 prepared in accordance with IFRS and accompanied by an independent auditor's review report have been filed on the National Storage Mechanism appointed by the Financial Conduct Authority and can be accessed at or on the Group’s website at . RUB millions Non-allocated items The “Social networks & content services” segment includes email, instant messaging services, News and Dzen platform, recommendation platform Pulse, as well as Portal (main page and media projects), VK Music, VK Calls, VK Videos, VK Mini Apps projects. It generates substantially all its revenues fromadvertising. This segment also aggregates the Group’s social networks VKontakte,OK,My World and generates revenues from (1) commissions from application developers based on the respective applications’ revenue, (2) user payments for virtual gifts, stickers and music subscriptions, and (3) online advertising. The businesses within this segment have similar nature and economic characteristics as they are associated with social media, content and online communication services, offer products and services to similar customer groups, and regulated in a similar regulatory environment. The “EdTech” segment includes the Group’s online education platforms with educational courses and programs (such as GeekBrains, Skillbox, Skillfactory and others), and earns substantially all revenue from individuals paying for education courses, as well as a small share of the B2B segment. The “VK Tech” segment includes VK Cloud platform, data management solutions, corporate communication services, tax monitoring platform, and other corporate software. The “New business lines” segment represents separate operating segments aggregated into one reportable segment because of their similar nature of newly acquired or newly launched and dynamically developing businesses. This segment consists primarily of Youla classifieds, which derives substantially all of its revenues from advertising and listing fees, the VK Play gaming platform, the Marusia voice assistant and VK Capsule smart speakers, and the RuStore app store for mobile devices. The Group evaluates the operating performance of its segments based on earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA). Adjusted EBITDA for the segments is calculated as revenues net of operating expenses (excluding depreciation, amortization, and impairment of intangible assets), taking into account the Group's corporate expenses allocated to the respective segment. LIQUIDITY As at December 31, 2022, the Group had RUB 48,759 mn of cash and cash equivalents, RUB 124,517 mn of debt outstanding (excluding lease liabilities) and RUB 8,788 mn of financial liabilities at fair value through profit or loss. The Group’s net debt position amounted to RUB 84,546 mn. AGGREGATE SEGMENT FINANCIAL INFORMATION The Group evaluates the performance of its operating segments based on earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA). Segment Adjusted EBITDA is calculated as the segment's revenue minus operating expenses (excluding amortization and impairment of intangible assets), but taking into account corporate expenses allocated to the relevant segment. A reconciliation of the adjusted EBITDA of the Group and the Group's comprehensive profit/(loss) for the three months ended December 31, 2022, and December 31, 2021, under IFRS is presented in the table below: RUB millions

Vkontakte Frequently Asked Questions (FAQ)

  • When was Vkontakte founded?

    Vkontakte was founded in 2006.

  • Where is Vkontakte's headquarters?

    Vkontakte's headquarters is located at Невский проспект, 28, St. Petersburg.

  • What is Vkontakte's latest funding round?

    Vkontakte's latest funding round is Acquired - II.

  • Who are the investors of Vkontakte?

    Investors of Vkontakte include Gazprom, VK, United Capital Partners and DST Global.

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