Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

VK.com's Founder Durov Out of Russia
22.04.2014 17:11
VK.com's Founder Durov Out of Russia
Photo Credit: http://vk.com

VKontakte founder Pavel Durov left Russia because “the country is incompatible with Internet business at the moment.” In an interview to TechCrunch, a popular high tech blog, Durov, who was dismissed from VK.com, plans to “start building a mobile social network this year”.

      Durov is expected to build on his work with Telegram, a mobile messaging app that encrypts your private data safe.

      Earlier, Russia-IC reported that Durov was dismissed as the company’s CEO. Durov blamed the owners for lacking the courage to break the news to him directly, saying he learned about his resignation from media reports.

      Rumours over Durov’s departure ripened after he sold his 12 percent stake to “his friend Ivan Tavrin”. What is less known to outside observers is that Tavrin is CEO of MegaFon, which belongs to Alisher Usmanov, Russia’s richest billionaire, with a net worth of $17.6 billion, according to Forbes.ru.

      The sale appears to mark an end to the shareholders’ squabbles, giving Usmanov, who already owned 39.9 percent, a clear advantage over United Capital Partners (UCP), an investment vehicle controlled by Ilya Shcherbovich.

      As Russia-IC reported, UCP surprised investors when it acquired 48 percent of the social network from the other co-founders of VKontakte, Lev Leviev and Vyacheslav Mirilashvili, in April 2013.

      Following the deal, Ilya Shcherbovich issued a series of critical statements over the way the ‘Russian Facebook’ had been run, blaming Durov.

      Since then, rumours were abundant over Durov’s departure as CEO. Some members of his original team left, to be replaced by Usmanov’s protégés. Many believe the young millionaire is most likely to leave his brainchild to work at Telegram, a new startup he founded that seeks to ensure privacy and security of online communications.

      With his resignation, the future of the most popular social network in Russia is up in the air. Currently worth between $2.5 and $4 billion, the company’s market value could take a serious plunge, at least for a while, and it doesn’t appear to be what the shareholders initially sought.

       




Author: Mikhail Vesely

Tags: Vkontakte Pavel Durov Russian social networks   

Next Previous


You might also find interesting:








Comment on our site


RSS   twitter      submit



TAGS:
incident  Moisey Feigin  State Duma  Russian Film Directors  Hospitals  Cosmoscow  Russian economy  Russian Metro  Vandalism  Sochi Olympics  SnowGRAD   The House-Museum of Pushkin's Uncle  Russian theatre  Red Square  Volzhsk  Tiffany   Russian tourism  St. Petersburg  Nature Sanctuaries  Russian holidays  Gazprom  Mercedes-Benz Fashion Week Russia  Sochi Olympic Games 2014  Sochi International Film Awards  Hermitage Museum  St. Petersburg Museums  Russian Cinema  False Dmitry  Platonov's Festival of Arts  Vitaly Melnikov  Russian opera  Russian academy of sciences  Semyon Chelyuskin  Exhibitions in Moscow  Yaroslavl   Russian television  Infill Building  Russian scientists  Russian business  Rituals  Chelyabinsk meteorite  Russian Literature  Sergey Prokofiev  Slava Zaitsev  politics  Russian science  Moscow  Anzhi Makhachkala  Moscow Festivals  Caucasian Mineral Waters 


Travel Blogs
Top Traveling Sites