VK Company (VKCO)
VK completes the acquisition of Zen and News
September 12, 2022. VK has completed the acquisition of Zen and News content platforms from Yandex. Simultaneously, the company sold to Yandex 100% stake in the food and grocery delivery service Delivery Club, which VK obtained from O2O Holding in September.
The deals were closed after getting the necessary approvals from the regulatory authorities. Zen and News results will be consolidated into the VK accounts as part of the Q3 2022 financial reporting.
VK has now received the rights to technologies and identity of Zen and News services and is registering the transfer of rights to the Zen trademark. The services will retain the interface familiar to users and will be available on the dzen.ru portal, which will also feature Yandex search bar and weather. Services will retain own teams and will be led by their current management. Zen will also retain the current monetization instruments for content creators and will be available on the web version and mobile app.
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VK is one of the largest technology companies in Russia, its products helping 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.
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