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Main article: VK Tech
2024: Revenue growth 42.1% to ₽13,6 billion
VK Tech's revenue for 2024 increased 42.1% to reach ₽13,6 billion, a record high for the company. According to the statements published in early March 2025, the growth ensured the expansion of the client base by 90.5% and an increase in the volume of sales of enterprise software.
According to the press service of VK Tech, revenue from large customers in 2024 increased by 28.3%, and from small and medium-sized customers - by 58%. The main growth drivers were the VK Cloud cloud platform and VK WorkSpace productivity services.
Operating expenses of the company in 2024 increased by 23.5% and reached ₽9,2 billion, which is mainly due to an increase in costs for the IT team. Adjusted EBITDA in 2024 showed significant growth - 2.4 times compared to the previous year, and amounted to ₽4 billion. VK Tech's net income tripled to $ ₽1,3 billion.
VK Tech CEO Pavel Gontarev noted that EBITDA margin in 2024 reached 29.2% compared to 17.4% in 2023. The basis for the growth of key financial indicators was the combination of two delivery models: On-Anticipate and On-Cloud.
The VK Tech enterprise software ecosystem includes four main areas:
- cloud platform VK Cloud.
- VK WorkSpace productivity services.
- data services.
- business applications.
The revenue of the Cloud Platform direction in 2024 showed the largest growth - 82.3% and amounted to ₽5,8 billion. The development took place in parallel in two formats: On-Cloud (50% growth) and On-Anticipate (2.5 times growth). The increase in private cloud consumption was driven by the scaling up of existing large customer projects and attracting new customers.
The Productivity Services direction showed revenue growth of 41.2%, reaching ₽3,6 billion. The increase was observed both in the On-Cloud format (growth of 59.6%) and in the On-Anticipate format (growth of 33%).
2023: Revenue growth by 67.5% to RUB 9.7 billion
In 2023, VK's revenue reached 132.8 billion rubles, an increase of about 36% compared to the previous year. At the same time, the largest growth was shown by the VK Tech division (technologies for business) - plus 67.5% on an annualized basis with a final result of 9.7 billion rubles. Such data are reflected in the financial report published on March 21, 2024. Read more here.
2022: Revenue growth of 83%
The revenue of the Technologies for Business segment VK (includes cloudy a platform VK Cloud and solutions for working with data, corporate communications services, VK WorkSpace tax monitoring and other corporate services) ON in 2022 increased by 83%, to 5.8 billion, rubles according to the company's financial results report issued on March 16, 2023. It became the fastest growing segment of VK's business. In the ranking " TAdviser100: The largest IT companies in Russia 2023," such an indicator allowed the company to take 85th place.
At the same time, in the fourth quarter of 2022, Technology for Business revenue more than doubled compared to the fourth quarter of 2021.
The EBITDA margin of the Technology for Business segment increased by 17 percentage points year-on-year to 20% in 2022. This, as well as the growth in EBITDA margin of the Educational Technologies segment in VK, is called the growth driver in 2022 of EBITDA margin of the entire VK, which amounted to 20.4%.
Technologies for Business includes various B2B services that are developing internally under the VK Tech brand. In a separate segment, this area was allocated in the fourth quarter of 2022, taking into account VK's growing focus on providing technology for the business and the growth of their share in the company's revenue. Previously, it was part of the New Initiatives segment.
Technologies for Business includes the VK Cloud cloud platform and data solutions, VK WorkSpace enterprise communications services, tax monitoring, and other enterprise software.
Among the products offered are the Tarantool in-memory computing platform, the VK Assistant digital assistant, the VK GRC system for internal control and risk management.
According to VK, the main growth driver for the Technology for Business direction was services for corporate communications on the VK WorkSpace platform. In the fourth quarter of 2022, revenue from them grew more than 3 times, and the share of services in the total income of the direction exceeded a third.
Revenue from VK Cloud services doubled in the same period.
The largest users of VK Tech products and services, according to information in the official VK Tech channels, include Rosatom"," "Mail Russia,",, Gazprombank, "," " Rosselkhozbank NLMKMegaphone Yota," "Transneft," "Ingosstrakh-Investments," etc.
2021: Revenue - 3.2 billion rubles
At the end of 2021, the revenue of the Technology for Business segment of VK amounted to 3.2 billion rubles. The company took 159th place in the ranking of TAdviser100: The largest IT companies in Russia 2022.
2020: Revenue growth to 2.3 billion rubles
At the end of 2020, the revenue of Mail.ru Digital Technologies, the operator of the Mail.ru Cloud Solutions cloud platform and the developer of software solutions for business, exceeded 2.3 billion rubles: compared to the previous year, it more than doubled. Almost half of the revenue was provided by subscription to cloud services, indicators for all lines of software products increased. This was announced on March 17, 2021 by Mail.ru Digital Technologies to TAdviser.
Photo source: ok.ru
Mail.ru Digital Technologies is a division of Mail.ru Group that develops technologies and solutions for digital business transformation. In 2020, the company brought to the market a number of products and services, for the third time in a row doubled the volume of business year-on-year.
 | In 2020, Gazprom, VTB, X5 Retail Group, Lukoil, Rosatom State Corporation, Magnit, Eurochem, Rosseti became our customers - while more than 30% of the business consisted of services and products for medium and small enterprises. We plan to become one of the largest providers of cloud services and corporate software in the Russian market, said Pavel Gontarev, Managing Director of Mail.ru Digital Technologies.
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Accelerating the pace of digitalization of big business has increased demand for cloud solutions. The revenue of the Mail.ru Cloud Solutions platform provided more than 40% of the total sales of Mail.ru Digital Technologies, approaching 1 billion rubles.
This growth was achieved due to the expansion of the subscriber base and an increase in the number of platform services (PaaS), the volume of sales of which soared 3.4 times. At the beginning of 2021, the MCS portfolio has more than 30 of its own platform solutions. More than 16 thousand customers use Mail.ru Cloud Solutions services monthly, of which 3 thousand spend more than 100 thousand rubles a month on cloud services. In 2020, the e-commerce segment showed demand significantly above the market, MCS customers were retailers X5 Retail Group, Magnit, Auchan, as well as Danone, Philip Morris, Burger King and other companies.
In 2020, the Tarantool in-memory computing platform received significant functional development. In addition to the development of Tarantool's open source code, a commercial version of Tarantool Data Grid entered the market in 2020. The solution is in demand by companies that focus on omnichannel interaction with customers and large amounts of data: banks, telecom operators, retail chains and businesses in the e-commerce segment. During the year, the platform was introduced in Gazprombank, Kh5 Retail Group, Magnit, Yota and MegaFon, a large-scale program began in VTB and a number of other companies. In the fall of 2020, Mail.ru Group announced additional investments in the international expansion of the project.
Revenue from sales of the corporate socialization platform Digital Insider increased by 70% year-on-year. The platform's capabilities have been significantly expanded: in addition to performing the functions of a corporate social network, the solution allows you to manage knowledge, user experience and organize self-service for employees. In addition, talent management functions are implemented on the platform: the processes of goal setting and assessment, training and development of personnel potential. In 2020, the social platform "Russia is a country of opportunities" was put into operation, projects were launched in Rosatom and Lukoil, the Rosseti project was launched.
The number of companies using solutions based on the Tax Monitoring platform has grown fivefold. The platform already provides digital interaction Federal Tax Service with Gazprom, Rostelecom Eurochem. Started projects with Rosseti, and. FGC UES Tele2 A transactional service is being developed integration with systems FTS that will allow companies to interact with the tax service without the participation of specialized telecom operators.
In 2020, the Digital Assistant for Business was presented - a solution for intelligent process automation. Eight thousand employees of the Mail.ru Group were the first to gain access to corporate systems using the Digital Assistant. Using the Digital Assistant, NLMK Group was able to work differently with suppliers. The project for the introduction of the Digital Assistant in Yota has started.
In 2021, Mail.ru Digital Technologies plans to expand its product portfolio and customer base. The company expects another multiple increase in revenue from software licenses and from cloud services. In addition, it is planned to launch all functional products in the form of SaaS services for users of the cloud platform.
2019: Revenue growth by 140%, to 1 billion rubles
The revenue of the B2B technologies direction of the Mail.ru Group in 2019 exceeded 1 billion rubles, the company said in its annual report. Its share in the group's total income, which amounted to 87.6 billion rubles, is still small, but the direction showed high growth rates - 140% year-on-year.
| | In fact, we become not only B2C, but also a B2B company, - said TAdviser in the Mail.ru Group. | |
Mail.ru Group allocated its business products to a separate division in 2019, to the Mail.ru Digital Technologies company. The former CEO of SAP SNGPavel Gontarev headed the new direction. The division is engaged in the adaptation and implementation of the group's technology solutions for accelerating the business of partners.
The portfolio of this area includes the cloud infrastructure of Mail.ru Cloud Solutions, the Tarantool data integration platform, predictive analytics and big data services, and communication solutions.
One of the revenue drivers of Mail.ru Digital Technologies in 2019 was the launch of a number of new products on the market. For example, the portfolio includes solutions for deploying intracorporate social networks and increasing employee engagement using digital HR technologies.
The company also began to offer not only public cloud services, but also private clouds for strategic clients, and provided the opportunity to deploy its platform industrial internet of things (Industrial IoT,) IIoT not only in the cloud, but also on the customer's side.
The set of offered solutions based on Tarantool has also expanded. For example, Nokia has created a Tarantool-based solution for automating developments in the industrial Internet of Things in Russia.
The company has a special focus on large corporate customers.
| | "Mail.ru Digital Technologies" develops and develops digital platforms for the largest Russian companies and corporations, including Rosatom VEB RF",,,,," " Rosseti Center "Megaphone" and Aeroflot Alfa-Bank others, - told TAdviser in the Mail.ru Group. | |
As part of the development of the B2B business, Mail.ru Group has formed a number of important partnerships for itself with large integrators and software distributors, including IBS Group, Merlion and Axoft.
Notes
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