Mail.ru have purchased remaining shares in Europe’s popular social network Vkontakte.
One of Russia’s top Internet companies Mail.Ru Group has bought the remaining 48% stake in the country’s most popular social network VKontakte for $1.47 billion.
The shares were acquired from Blesmir Development Limited and Palagon Limited. As a result Mail.Ru will now fully join VK.
Founded in 2006, VKontakte has over 260 million registered accounts and more than 60 million daily users. Facebook Inc. does not officially disclose its numbers for Russia, they are believed to be much lower compared to Vkontakte Russian users.
Vkontakte founder Pavel Durov’s will now focus on his Telegram application, an alternative to popular chat application Whatsapp with secure messaging features.