Vkontakte will invest a billion rubles in the Russian equivalent of TikTok
The short video service «Clips» will receive 1 billion rubles from the social network Vkontakte. The money will be used for content production, promotion, and a monetization program for authors, Vedomosti writes.
Vkontakte launched the Clips service in early June. Shortly, the service will be available to all users of the app. Only invited authors can upload their content first. Among the stars are Pavel Volya, Ekaterina Varnava, Ilya Sobolev, Philip Kirkorov and Yevgeny Kulik.
«Clips» will be located on the fourth tab of the app, where the «friends» list is currently located.
