VKontakte is exploring the possibility of an IPO in New York
Social network "VKontakte" is considering the possibility of an IPO in New York. Bloomberg reported this on Wednesday evening, citing knowledgeable sources.. According to them, at the beginning 2011 of the year, representatives of VKontakte met with investment banks and consulted on the possibility of listing the company on the stock exchange next year. The final decision on the IPO has not yet been made, sources highlighted. VKontakte is the largest Russian social network with more than 25,5 million users per day. In total, about 100 million accounts. Control over the company belongs to its founders. 32,49%-Mail.ru Group owns a new package through VK.com. Mail.ru Group (formerly DST) invested in VKontakte in 2007 year. Holding acquired 24,99% behind $16,3 million, and in November 2010 increased the share by 7,5%. The last transaction took place based on the assessment of "VKontakte" in $1,5 billion. Mail.ru also has an option to buy back 7,5% Social, valid until November of the current year. The terms of the option were not disclosed by the parties. Revenue of "VKontakte" in the first half of the year 2010 was $40,1 million, EBITDA – $12,8 million, net profit - $7,4 million.