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Vkontakte launched its beta in 2006, and as of December 2012 has at least 195 million accounts and 43 million daily users , according to Wikipedia.
Pavel Durov, the founder of Vkontakte owns 12 percent of its shares and manages 39,99 percent on behalf of Mail.ru Group as of Spring 2012. He claims that since the existing shareholders have preemptive rights when it comes to buying shares from the existing shareholders, and that the notice about the sale of the shares did not come through.
According to EWDN, UCP acquired legal entities that control the shares in Vkontakte, thus avoiding the preemptive clause in the shareholder agreement.
Vkontakte has been blacklisted by US authorities, as it enables users access pirated music and other digital content.
Durov, together with a prominent Russian Internet investor Yuri Milner have established a grant fund StartFellows, backing pre-seed stage internet projects.
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