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In January 2014, VK's founder Pavel Durov sold his 12% stake in the company to the CEO of Megafon, which is controlled by Alisher Usmanov.Following the deal, Usmanov and his allies controlled around 52% of the company.In December 2008 VK overtook rival Odnoklassniki as Russia's most popular social networking service.

User registration was initially limited to within university circles exclusively by invitation, but the site still grew quickly.

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.

VK allows users to message each other publicly or privately, to create groups, public pages and events, share and tag images, audio and video, and to play browser-based games.

VKontakte was incorporated on 19 January 2007 as a Russian limited liability company.

In the same month, the site was subjected to a severe DDo S attack, which briefly put it offline.

The user base reached 1 million in July 2007, and 10 million in April 2008.

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