”What you own, sooner or later begins to own you.” – that’s how the founder of Vkontakte started his first post after the world found out that he has sold his shares of the biggest Russian social network he created.
”The last few years I have been actively getting rid of the property, giving and selling everything starting from furniture and stuff to real estate and companies. To achieve the ideal I had to get rid of the largest part of my property - 12% share of VKontakte. I am glad that recently I have reached this goal by selling my share of VKontakte to my friend Ivan Tavrin.”
Most likely Pavel did it in December 2013. The amount of transaction for the sale hasn’t been published, but according to some sourses the value of Durovs share was around $360-480 million.
Pavel promised that the management of Vkontakte won’t change much and he will take care and protect it ("After all, VK is the best thing made in communication sphere in Russia" he said), but most probably his authority as CEO will stop in February already. There is a reason to believe that he quits because of the conflict with the board of directors. Among others the owners were dissatisfied with the fact that Pavel Durov was engaged in one more project – last summer he presented the ”Telegram” messanger absolutely independent from Vkontakte.
Currently 48% share of VK belongs to United Capital Partners, 40% - to Mail.ru Group and 12% - to Ivan Tavrin, CEO of Megafon.
But there is no doubt that we will hear from Pavel Durov very soon. He prefers to remain in the shadows but his extraordinary behaviour causes resonance. For example once he started throwing 5000 ruble bank notes (110-115€) right from his office window in Saint-Petersburg and recording people fighting for it. So let’s see what happens next and I promise to tell more about Telegram next time.