Bhavin and Divyank Turakhia were mostly underdogs their entire lives in the entrepreneurial field. But like all underdogs, their time has come full circle as Divyank Turakhia sold his seventh business. Sold to a Chinese Consortium for $900 million, it has earned him a fresh spot in the list of billionaires.
A Humble Beginning
Divyank Turakhia’s life story a staple rags to riches journey. A Mumbai resident, Turakhia became a programmer at the age of nine and set up a free dial-up BBS (bulletin board system) in a time when the internet was yet to make its mark.
His career began with a tech job at 14 by providing advice to large companies on internet implementation in their businesses. He first struck success by co-founding the Directi Group with his 18-year-old brother Bhavin Turakhia, using a $500 loan from their parents.
The success of their first business venture added millions to their project only when he was 18. By the time he reached 23, it rose to a $100 million. His brother took the managing desk of Directi while Divyank played a major role in its growth and expansion.
A Brighter Future
Divyank Turakhia’s work has played an important role for several Indian businesses. His actions have also helped build strategic partnerships for the company. All the hard work paid off and he is now the brains behind media businesses like Skenzo, BigJumbo, DomainAdvertising.com and MediaInvestments.com. It employs over a 1,000 people and serves over 1,000,000 customers.
Turakhia’s business leadership has accrued his companies in the list of Top 50 Fastest Growing Technology Companies in India. Not just that, but they have also been included in the Top 500 Fastest Growing Companies in Asia by Deloitte & Touche for the past four years in a row.
Turakhia and his brother sold four of their brands to Endurance International Group for $160 million two years ago.
Media.net was made to rival Google’s AdSense program. Its products are currently approved by top publishers. This includes ad networks and numerous international ad-tech companies. Centered originally in their hometown, it has expanded to New York, Los Angeles, Dubai, Zurich, Mumbai and Bengaluru.
Zhiyong Zhang, chairman of Beijing Miteno Communication Technology has also proposed plans to integrate the company with Beijing-based Miteno.
Turakhia and his current management team continue to operate Media.net, remaining close to their roots and has set its sights to expand in China.
And about India? He believes that India is too small a market despite heightening many Indian products to a global scale. Some of its products – Zeta, Flock and Ringo, for instance – have a presence in India.
From Underdogs To Top dogs
In the past two decades, the brothers have played their hand in 11 start-ups under the Directi brand. It began as a web hosting company in the late 1990s. They were expert coders with dreams of owning enterprises. They used their understanding of technology to start the web hosting business with money borrowed from their father, a chartered accountant.
The brothers won clients such as Nasscom, CMIE and People Group. In a few years, they sold the business to Nasdaq-listed Endurance Group in 2014 for $160 million.
As of now, their stint has gained the attention of investors and techies all over who anticipate their next move. The company’s value is over $1.4 billion.
“The acquisition will enable Media.net to be an even greater platform for innovation and investment on a global scale.”
“Together, we can accelerate the company’s growth and deploy new products and services that will add value for our customers. Media.net’s leadership team and employees are excited to enter into this new phase of growth.”
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