Cyberspace is a socio-political and technological domain with unique characteristics. Cyberspace transcends territorial and legal boundaries and is mostly owned and managed by the private sector. The fact that states are unable to secure cyberspace on their own, forces them to develop cooperative mechanisms with other states and international organizations, but also with the private sector. This reality raises a number of issues regarding the most effective model of governance. Viewing cyberspace as a global commons, balancing between state sovereignty and the fragmentation of cyberspace, debating between multilateral governance and multi-stakeholderism and establishing cyber norms, sketch a rather complex picture of cyberspace governance. The cases of ITU, ICANN, IGF and NETmundial offer us a pragmatic insight into the power politics of cyberspace. Cyberspace is a geopolitical arena, where states compete with each other, but are also being challenged by the private sector.