Back in 2010, Robin Wauters, a journalist (now formerly) at TechCrunch, wrote an article about the founders of Directi, Divyank & Bhavin Turakhia. The article discussed that the company was “bootstrapped on a $600 budget – loaned to Divyank and his brother from their parents – back in 1998.”
This morning, Domain Incite and TheDomains are reporting that there is a deal in place for Endurance International to acquire at least a part of Directi for “between $100 million and $110 million in cash or, at the election of the seller, a combination of cash and shares of our common stock,” according to Endurance’s S-1 filing.
In his post this morning, Mike Berkens wrote that Directi’s Media.net business is not included in the pending deal, and there may be other components of the company that aren’t included in the pending deal. I assume we will learn more about this in the coming months.
This is quite an awesome achievement for the Turakhia brothers (and parents). I, for one, have always dreamed about building a company from scratch and turning it into a massive sale. Div is only 31 and Bhavin is just 33. They have been multi millionaires for many years, and this deal will take the brothers into rarified territory that few will ever know.
Congratulations to the Turakhia brothers on this pending deal. It’s great news for them and it’s also good news for all of us in the domain space.
@Elliot one man show usually can’t built any big, or can they?
Unless you are a movie, rock, talk show or sports star I suppose.
I don’t necessarily agree… Frank Schilling, Mike Berkens, Rick Schwartz, and a few others whose privacy I will respect have built portfolios worth 8 figures.
Go .PW and the sites who advertise it. Where’s your cut?
Solid research , some buys that are stepping stones and a little horse trading a decent portfolio can be built.
Directi, Have one of the two premier (dot in) cc portfolios in the market, that is a 1.5b population market that will use romanised Hindi keywords on English keypads / naukri = jobs/ khilaune = toys / Khel = games with 800m yet to become consumers. India speaks Hindi & English. This game of thrones has just started.
Ah—so THAT’S where capital generated by our outsourcing went…….. : \
The 600 USD loan is funny to quote. Directi group is always over rated themselves.
As per their own statement it was rs. 50000 in 1998, which was almost 1200 USD as per USD rate that time. After that if some one ever bothered to check what sort of financial loans taken by them in business ?
Also, they use to mention Directi group worth 300 MN USD + ( and this announcement was BEFORE Media.net and Radix Registry formation, in 2008 )
So now after 5 yrs. if they got 100 MN for including Radix and additional business in 5 yrs. ( here obvious media.net is not included as that was not part of valuation in 2008 ) , that means they always shown over rated value in their presentations.
Though this is definitely an Achievement and I want to mention here, Both bros really did very well but with that want to mention that don’t over rate the things with such figures.
In other way, Godaddy stakes sold in 2500 MN USD ( July 2011 ), when Godaddy holding 50 MN Domains. While directi group having 8 MN Domains, and entirely sold in 100 MN looks like a very less price if we compare the same to Godaddy Sale.
“As per their own statement it was rs. 50000 in 1998, which was almost 1200 USD as per USD rate that time”
So it was $600 per child – everything is
“The 600 USD loan is funny to quote. Directi group is always over rated themselves. As per their own statement it was rs. 50000 in 1998, which was almost 1200 USD as per USD”
If you’re going to be a hater, at least be good at it.
Pointing out that the $100,000,000 deal was based on a $1200 and not a $600 loan is kinda hilarious.
it is not a big deal for such large players