Indian brothers become billionaires after a Chinese firm acquires their startup

Today, every other person is seen interested in starting his own small business (also known as startup). Startups have many advantages, and you can easily generate a handsome amount of cash out of them if you get succeed in attracting the customers. If you need some tips for growing your startup, read our guide here.

If your startup is useful, then there is a chance that an international firm will purchase it, and you will become a billionaire! Sounds unbelievable, right? Well, we are talking about the two Indian brothers who started a small tech startup and became billionaires after selling their startup to a Chinese consortium.

Divyank Turakhia and Bhavin Turakhia are the two brothers from Mumbai. In 2010, they founded a startup, called Medianet, which provides different kinds of services to the advertisers. It is now one of the most famous global advertising technology company and has recently been purchased by a Chinese consortium for the price of $900 million, making Divyank and Bhavin the billionaires.

As per the rules of the deal, the Chinese consortium has already paid $426 million and will pay the remaining $474 million at a scheduled date. The consortium is led by Beijing Miteno Communication Technology (BMCT) Chairman Zhiyong Zhang. MediaNet will become a small company of the BMCT after it gets this startup from the consortium.

The impressive deal is so expensive that it has left the other deals, i.e., Google’s acquisition of AdMob in 2010 for $750 million and Twitter’s purchase of MoPub for $350 million less important.

The Indian brothers own 11 other startups as well!

The siblings have a history of creating startups. They started their first business when one of them was 16, and the other was 18. In this young age, they successfully established a startup, namely Directi.

After a few years, they borrowed Rs. 25,000 from their father and started working in a shared bedroom to create another startup. Over the years, the brothers have set up 11 startups and their total wealth is $1.4 billion.

Read AlsoPakistani startup secures the 2nd position at World Startup Cup 2016.

The Turakhias are currently working on two other startups that are currently available in India only. According to the brothers, they will soon launch these two Indian startups on an international level as well.

Image Source: dnjournal

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