Lots of apps

History

2024

Increase VK's share of Many Applications to 100%

VK became the sole owner of the Many Applications software developer, increasing its stake in the company from 70% to 100%. This is evidenced by the data of the Unified State Register of Legal Entities (USRUL).

VK bought shares in Many Applications from the developer of digital business products Red mad robot. First, VK bought out a majority stake of 70% on February 5, 2024, and in July 2024 - the remaining 30%.

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The transaction parameters are not disclosed. VK called the purpose of the transaction the strengthening of the digital product development team, this goal was confirmed to Interfax by the press service after the consolidation of the asset in July 2024.

The Many Apps company is working on a new app store, according to its website. It does not specify which store is in question, but it is noted that it will be available for download by devices on the Android platform version 6.0 and higher.

According to Kommersant, Many Apps can participate in the development of the Rustore app store (owned by VK). VK explained to the publication that the corporation acquired a stake in Many Applications in order to strengthen its digital product development team. They also noted that various contractors are involved in the development of Rustore, which conduct research and do analytics.

The newspaper writes that VK bought "Many Applications" for the sake of IT specialists. According to Robbo Ilya Dinerstein, chairman of the board of directors, the scheme for buying specialists through the acquisition of companies is especially suitable "if new developments are created in a fairly short time." As a general rule, however, large business absorbs small businesses not only for the sake of the state - "food developments are also needed," says the director of infrastructure consulting practice and. cyber security Axenix Nikolay Ulrich^[1]

VK bought 70% of "Many Applications"

VK bought the Many Applications company, which participated in the development of the RuStore mobile application store. The corresponding entry on the transaction in the Unified State Register of Legal Entities (Unified State Register of Legal Entities) was entered on February 5, 2024.

As Kommersant writes with reference to the data of this register, VK Company LLC acquired 70% in Many Applications LLC, which previously belonged entirely to the developer of digital services red_mad_robot (Radmedrobot LLC). VK confirmed to the newspaper the fact of the deal and explained it by "strengthening the digital product development team."

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Pexels

Red mad robot confirmed that the company cooperates with VK, as well as with "many large companies," but all the technological processes for the development of RuStore are concentrated inside VK. VK added that "various contractors for research and analytics" are involved in work on RuStore.

The source of the publication in the IT market linked the purchase to the "shortage of qualified IT personnel" experienced by large Russian holdings, noting that "in this situation, attracting ready-made teams through the acquisition of an asset is a normal solution."

According to Pavel Golub, co-founder of the Arcsinus digital platform company, it is more profitable for large companies to acquire ready-made teams that are already aware of their business logic. In addition, "Many Applications" was most likely created to cooperate with VK, he believes.

CorpSoft24 CEO Konstantin Renzyaev admits that VK will buy out the entire Many Applications company, and he estimated the deal to sell 70% of the startup at 20 million rubles.

Most likely, VK bought a stake in Many Applications in order to quickly acquire the necessary resource. Given the shortage of personnel and the tight timing of the implementation of the tasks, such a deal is justified, "he said in a conversation with Kommersant[2]

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