Lots of apps

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2024: VK bought 70% of "Many Apps"

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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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[1]

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