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Igor Linshits subsequently took an active role in the development of the business. The company started to operate under its present name on 16 October 2001. The subsidiary will include about a quarter of the group's shareholding in Facebook, stakes in Russia's two biggest social networking sites and
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The deal awaits approval from other shareholders and regulators but is expected to close in Q1 2017. Mail.ru, which was founded in 1999, owns Russia’s most popular social network VKontakte (VK) as well as operating several other email, chat, and cloud services. Megafon meanwhile is Russia’s second largest mobile operator.
“The transaction is aimed at achieving significant synergies for both companies, including enhancement of Megafon's digital offering and its distribution, launch of special VKmobile offering for users of VK social network, and other potential initiatives,” reads a statement from the companies.
The business was originally owned by Port.ru, a company founded in 1998 by Eugene Goland, Michael Zaitsev and Alexey Krivenkov as spin-off from Data Art. Attempts to fund the company's expansion in 2000-2001 were thwarted by the collapse of the technology bubble and had to seek merger partners.
It received an initial investment of USD 1 million from the well-known investor (and fencing champion) James Melcher. In 2001 Yuri Milner, then managing Net Bridge (the owner of less popular internet brands) persuaded the well-known entrepreneur Igor Linshits to back a merger of the business with Net Bridge. As of 2009 The IPO will offer a stake of about 17% of the subsidiary.
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