End Of An Era As VKontakte Founder Durov Sells His Stake To Russian Mobile Giant


Pavel Durov, the elusive founder of VKontakt (VK) — at 100 million users Russia’s biggest social network — has confirmed that he has sold his 12 percent stake to Ivan Tavrin, the CEO of major Russian mobile operator Megafon. The telco’s second-largest shareholder is Alisher Usmanov, one of Russia’s most powerful oligarchs, a man who has long been lobbying to take over VK.

According to Reuters Usmanov and his allies now control some 52 percent of the company, from his 40% stake via Mail.ru and now Durov’s 12%, while another shareholder group owns 48%. So it looks like he’s pretty much got what he wanted.

Russian business daily Vedomosti has reported that the deal was sealed last month, possibly based on a valuation of $3-$4 billion for all of VK, which is heavily based on an earlier version of Facebook.

Via Google Translate, we present for you an edited version…

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