The Success of the Young Entrepreneur Will Be the Key to India’s Transformation in the New Millennium
The spirit of Entrepreneurship among India has been increasing on a drastic mode. Below is the story about Intelligent People and Uncommon People.
Established in – 1998
Number of Employees – 1500+
Offices – Mumbai, Delhi, Bengaluru, Dubai, New York, Los Angeles, Ras Al Khaimah, Zurich
Revenue – $250+ million / year
Group Enterprise Value – $1.4 billion
Founders – Bhavin Turakhia, Divyank Turakhia
Directi comprises of a group of tech businesses owned, operated or invested in by Bhavin and/or Divyank Turakhia. The Group boasts of multiple business units that are run independently by their respective management teams.
The Directi portfolio companies comprise of Radix, Ringo, Flock, Zeta and Codechef. Media.net, owned by Starbuster TMT Investments, leverages the Directi brand and culture for recruitment in its India offices. Directi also comprised of BigRock, ResellerClub, LogicBoxes and WebHosting.info which were sold to the Endurance International Group in a $160 million transaction in 2014.
Across these businesses, Directi employs 1500+ people across 8 offices, with over 9 million customers, revenues of over $250 million and a group enterprise value of over $1.4 billion. The company has invested in multiple category leading global brands across business areas as diverse as web presence (domains, hosting, cloud-infrastructure), online advertising, communication & collaboration (voice and messaging) and payments (benefits and compensation).
Directi is valued at $ 1.4 billion also making the Turakhia brothers billionaires.One of their most successful venture “Media.net” was recently sold to a Chinese consortium for $900 millions. Divyank and Bhavin Turakhia, 34 and 36 respectively, sold their advertising company Media.net to Beijing Miteno Communication Technology, in an all-cash deal that is one of the biggest acquisitions in the history of the advertising industry. Media.net, which was founded six years ago by the brothers and has offices in Dubai and New York, provides technology backbone to contextual advertising. Basically, they help determine which ads you’ll see depending on what kind of a webpage you are visiting, and it generated revenues worth about $230 million last year
The remarkable thing is that the Turakhia brothers have been able to pull off this deal despite slowness in the ad tech market. Most firms in the industry, including Media.net’s main local rival, InMobi is also struggling.
Divyank Turakhia will continue at the helm of the company, while older brother Bhavin will manage the Mumbai-based Directi, which runs four other tech startups. In 2014, the brothers sold Directi’s domain registration businesses for $160 million to Endurance International Group. And these are totally self-taught coders who have rolled out 11 startups and are now billionaires. Makes me wonder why my parents spent a bomb on my computer science degree.
Unique aspects about Directi:
All Directi businesses are bootstrapped. None of the portfolio companies have any external debt or investments.
All businesses (barring the newest ones) are profitable, and Directi generates healthy and growing profits and cash flows each year.
All businesses are amongst the top 5 globally in their respective space.
All of the 11 businesses of Directi are immensely successful, an uncommon occurrence in the startup space.
Bhavin is a respected personality in the Internet and Technology community, and a frequent speaker at various seminars, tech conferences and business college events.
Bhavin has written several noteworthy papers on technology and e-commerce trends, and has spoken at various seminars across the globe on topics ranging from advertising on the Internet to the solutions for the startup ecosystem. He has won several awards, including the Bharti Entrepreneur of the year award in 2005. The Directi Group was also ranked 10th in the Deloitte Technology Fast 50 India program 2005, under his leadership.
Divyank made his first million dollars at the age of 18, got his first 100000+ customers at the age of 21, saw his net worth cross $100M at the age of 23. Along with Bhavin, he is responsible for growing Directi’s net worth to $1.4 billion. Divyank was featured in the list of Asia’s Top Young Entrepreneurs by BusinessWeek Magazine in 2006. Later in 2007, he was featured in the Young Achievers List by Society Magazine, and in 2008, Financial Express featured Divyank as one of India’s ‘New Business Leaders’. Bloomberg also featured Divyank as a ‘Winning Warrior’ in the year 2010.