Mumbai Thoughts >> I love that Mumbai knowshow to welcome festival : Aarti G.    |    I hate to see homeless people in Mumbai ☹ : Lester M.    |    I love the old British colonial architecture of Mumbai : Krupa T.    |    I hate the lack of recreational areas in Mumbai ☹ : Tehsin L.    |    I love the liveliness of Mumbai : Sanjay B.    |    I love the holy songs singing in the train in Mumbai : Abhijit    |    I love the speed of Mumbai : Pratik C.    |    I hate the price of real-estate in Mumbai ☹ : Cherylann M.    |    I hate the crowded trains of Mumbai ☹ : Raza A.    |    I love the traditions of Mumbai : Dhaval C.    |    I love Mumbai coastline : Hitesh K.    |    I hate the lack of nature in Mumbai ☹ : Brinda M.    |    I love the sea-link in Mumbai : Abhijit    |    I hate the corruption of Mumbai ☹ : Arjun M.    |    I love the cosmopolitan culture of Mumbai : Sarit P.    |    I love the vibrant life of Mumbai : Afrid W.    |    I hate the uncleanliness of Mumbai ☹ : Devanshu    |    I hate the noise in Mumbai ☹ : Pradeep M.    |    I love the Neo Gothic structures of Mumbai : Faiyar S.    |    I hate the lack of open spaces in Mumbai ☹ : Anthony D.    |    I hate the poor drainage system of Mumbai ☹ : Irsad S.    |    I hate the extremely high cost of living of Mumbai ☹ : Piyush R.    |    I love the great restaurants of Mumbai : Radhika P.    |    I love the helpfull population of Mumbai : Riddhi S.    |    I hate the dirty beaches of Mumbai ☹ : Priyesh Y.    |    I love vada pav in Mumbai : Priyesh Y.    |    I love the inclusive nature of Mumbaikars : Sunishi G.    |    I hate that Mumbai is pedestrian unfriendly ☹ : Milesh S.    |    I hate that people are not following traffic rules in Mumbai ☹ : Komal S.    |    I love Marine Drive in Mumbai : Krupa T.    |    I hate dirty politics of Mumbai ☹ : Imran S.    |    I love that Mumbai is a safe place for women : Madhu G.    |    I hate the dirt of Mumbai ☹ : Aditi R.    |    I love that Mumbai always stand united : Aarti G.    |    I hate the unnecessary honking on the streets of Mumbai ☹ : Krupa T.    |    I hate the lack of proper urban planning in Mumbai ☹ : Manpreet    |    I hate the roads potholes of Mumbai ☹ : Arjun M.    |    I love sunset at beach in Mumbai : Jayant V.    |    I hate the lack of ecofriendliness of Mumbai ☹ : Manpreet    |    I love the culture opportunities of Mumbai : Dupa P.    |    I love the vibes of Mumbai : Devanshu    |    I love that Mumbai is a city of dreams : Yogita S.    |    I love that it never gets too cold in Mumbai : Kshipra L.    |    I hate the behaviour of government people in Mumbai ☹ : Milan N.    |    I love that people from different cultures live and work together in Mumbai : Saurabh K.    |    I love the safety of Mumbai : Radhika P.    |    I love the fast life of Mumbai : Manpreet    |    I love the cultural diversity of Mumbai : Cherylann M.    |    I love the beach of Mumbai : Irsad S.    |    I love that there is so many things to for entertainment in Mumbai : Saurabh K.    |    I love the sea in Mumbai : Pradeep M.    |    I hate the poorly maintained heritage buildings of Mumbai ☹ : Krupa T.    |    I love that Mumbai never sleeps : Rashair C.    |    I love that Mumbai is a land of opportunities : Madhu G.    |    I hate the lack of gardens in Mumbai ☹ : Madhu G.    |    I hate the infrastructures of Mumbai ☹ : Rashair C.    |    I love the better employment opportunities of Mumbai : Raza A.    |    I love the diversity of Mumbai : Manish M.    |    I love the honestly of daba walas in Mumbai : Kiran M.    |    I love the night life of Mumbai : Satish    |    I love the good educational facilities of Mumbai : Stanlay B.    |    I love the nightlife of Mumbai : Aditi R.    |    I hate the sense of filth in Mumbai ☹ : Sunishi G.    |    I love that Mumbai is home to so many people and cultures : Arjun M.    |    I hate the inadequate public transport infrastructures of Mumbai ☹ : Saurabh K.    |    I hate the dirt of Mumbai ☹ : Madhu G.    |    I hate the unclean nature of Mumbai ☹ : Sarit P.    |    I love that Mumbai is being the financial capital of India : Sanjay B.    |    I love that Mumbai is a financial innovation capital : Jimmy P.    |    I hate the long time of commuting in Mumbai ☹ : Radhika P.    |    I love the colonial areas of Mumbai : Milesh S.    |    I love the street food of Mumbai : Jessica N.    |    I love the festival in Mumbai : Abhijit    |    I hate the transportation system of Mumbai ☹ : Aarti G.    |    I love the social life of Mumbai : Lester M.    |    I hate the non provision for cyclists in Mumbai ☹ : Asheen A.    |    I hate the bad civic amenities of Mumbai ☹ : Afrid W.    |    I hate the stressfull life of Mumbai ☹ : Srinibas P.    |    I hate the noise pollution of Mumbai ☹ : Radhika P.    |    

Mumbai Brothers Become Billionaires After Chinese Buyout

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  • BHC Team

The global mergers and acquisitions market was sent into a flurry when Google acquired AdMob for $750 million and Twitter purchase MoPub for $350 million. Now the world is witnessing a similar turbulence, with the $900 million buyout of an advertising technology startup, to Chinese investors. Our pride lies in the fact that the two promoters are Mumbai-boys!

Thirty-four-year-old Divyank Turakhia and his elder brother Bhavin, who grew up in the suburbs of Mumbai (Juhu and Andheri), turned to web entrepreneurship in their teens. Over time, they managed to strike an all-cash deal to divest their company called media.net and merge it with the Chinese Beijing Miteno Communication Technology. This deal has, ever since, been in the global spotlight. Investments, in the technology sector of India, have been falling. This holds true for Media.net's local rival, Inmobi, which is struggling in the market in spite of its backing by Japan's Softbank Corporation.

This is not the first exit that the Turakhia brothers facilitated, the first one coming in 2014, when they sold Directi's web services businesses like BigRock and LogicBoxes for around $160 million. It is also worth noting that after this buyout, younger brother Divyank, who runs Media.net, intends to steer the company, even after the buyout. Elder brother Bhavin, manages the Delhi head-office of Directi, which operates around four separate startups in the web communications and payment systems space.

Founded six years ago, Media.net is a joint venture based in Dubai and New York, providing the technological backbone to contextual advertising. offered by the likes. It clocked about $230 million as revenue last year. "The businesses we manage are worth $1.4 billion after today's transaction," Divyank, a Dubai-based NRI, told TOI over the phone from the US.

Divyank and Bhavin, whose father is a chartered accountant and mother a law graduate, attended Arya Vidya Mandir school in Bandra. Divyank graduated with BCom from Narsee Monjee and Bhavin from Sydenham college.. However, attending classes was never really their thing. "It was not required. You got distinction just by sitting for exams," Divyank said, reminiscing about the days when they mixed entrepreneurship with studies. To date, they've rolled out 11 startups under the Directi umbrella, having begun their entrepreneurship journey by helping Indian companies build websites and intranet services in the late 1990s. A person who's seen the brothers at close quarters says that despite their lack of an engineering degree, they are brilliant coders. "They've learnt everything, including how to code, on their own," he added.

The acquisition of the company will take place in two phases: in the first BMCT chairman, Zhang Zhiyong will lead a consortium of investors to buy Media.net, and in the second, the acquirers will reverse-merge with the Zhiyong's publicly traded firm.