Pavel Durov, founder of VKontakte (VK), the Russian largest social network, has confirmed that he has sold his remaining 12 percent stake to Ivan Tavrin, the CEO of major Russian mobile operator Megafon. Megafon's second-largest shareholder is Alisher Usmanov, one of Russia's most powerful business magnate, a man who has long been trying to take over VK.
Ffrom his 40 percent stake via Mail.ru and now Durov's 12 percent, Usmanov and his allies control 52 percent of the company, while another shareholder group owns 48 percent.
Durov had come under pressure to relinquish his stake in VK. Signs that he was looking towards to create another venture came when he unveiled Telegram - an app for secure communication. At that event, he was heavily criticized both the Russian government and the U.S. government for sanctioning mass surveillance.
Durov's decision to sell his remaining stake marks the end of his tenure at the helm of Russia's most popular social network, and turning the page on more than two years of turmoil and political strife.
At the moment after Durov sold his share, VK is fully owned by people that are loyal to Vladimir Putin.