Friday, January 31, 2014

How Putin's cronies seized control of Russia's Facebook


Pavel Durov, founder and CEO of VKontakte (VK), speaks at the Digital Life Design conference in 2012. Durov sold his remaining stake in VK earlier this week. (Hubert Burda Media / Flickr )


It's hard to imagine a situation in which Mark Zuckerberg would sell his stake in Facebook. It's even more difficult to imagine him fleeing from the police, battling takeover attempts from billionaires, or tossing $100 bills from his office window.


Yet that's exactly the scenario that's unfolded over the past few months in St. Petersburg, where Pavel Durov, the eccentric founder of social networking site VKontakte (VK), is suddenly persona non grata. Durov, 29, sold his remaining stake in VK this week, officially ending his tenure at the helm of...


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