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VK canceled their IPO plans after the conditions after Facebook's IPO, which it saw as a failure. In April 2014 Durov stated he had sold his stake in the company after "coming under increasing pressure" from federal law enforcement to hand over personal details of users who were members of a VK group dedicated to the Euromaidan protest movement. In 2014 Pavel Durov sold his 12% stake to Ivan Tavrin, the CEO of Russian mobile phone operator Megafon. In April 2013, United Capital Partners bought 48% of VK shares from Vyacheslav Mirilashvili and Lev Leviev for $1.12 billion. Combined with Durov's personal 12% stake, this gave him 52% of the votes. On Group announced that it has decided to yield control of the company to Durov by offering him the voting rights on its shares. The original founders then sold a stake of 39.99% to Group (formerly Digital Sky Technologies). Founder and CEO Pavel Durov owned 20% of shares (although he had majority voting power through proxy votes), and a trio of Russian investors, Vyacheslav Mirilashvili ( Mikhael Mirilashvili's son) and Lev Leviev, owned 60%, 10% and 10% respectively. VKontakte was incorporated on 19 January 2007 as a Russian limited liability company. In December 2008 VK overtook rival Odnoklassniki as Russia's most popular social networking service. The user base reached 1 million in July 2007, and 10 million in April 2008. In the same month, the site was subjected to a severe DDoS attack, which briefly put it offline. In February 2007 the site reached a user base of over 100,000 and was recognized as the second largest player in Russia's nascent social network market.
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User registration was initially limited to within university circles exclusively by invitation, but the site still grew quickly. The following month, the domain name was registered. Founder Pavel Durov launched VKontakte for beta testing in September 2006, having just graduated from St Petersburg State University.