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Russian social site triples target ad revenue

Russian social site triples target ad revenue

Russian-language social networking site VKontakte revealed that during the third quarter, it generated triple the revenue from targeted ads, reaching almost US$1.5 million a month, reported today. Vedomosti hinted that the growth is expected to continue.

The Facebook competitor gained between $5 and $6 million during the first nine months of 2010. According to VKontakte's Operating Director Lev Leviev, the growth was due to the launch of a new ad system that caters to factors such as geographic location, interests, gender and age.

Last year, the social network made $34.5 million. Vladislav Kochetkov, analyst for investment group Finam, predicted that in 2010, earnings would grow by 60 percent to $55 million.

The site had a large audience and a good targeting system, said Maria Chernitskaya, general director of context-ad firm iContext. outlined that VKontakte is the largest Russian-language social site with over 70 million registered users.


Alisa Zykova


2010-10-14 15:30

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