One of Russia's leading internet companies, Yandex co-owner Pavel Prass intends to increase his stake in its rival, VK, according to a statement released by VK. Prass also holds a 19% stake in Agana. If VK shareholders approve the issuance of additional shares at the meeting on April 30, the new shareholders will own 61% of VK's increased capital.
This move highlights the ongoing consolidation in the Russian tech sector. Last year, Yandex sold its news and entertainment services to VK. Additionally, Safe Superintelligence (SSI), a company founded by Yandex's former chief scientist Ilya Sutskever, has secured investments from major tech companies like Alphabet and Nvidia. These developments indicate significant shifts in both the Russian and international tech markets.
