Divyank & Bhavin Turakhia Turn $600 Loan Into $100 – $110 Million Deal
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.
Reach out to Elliot: Twitter | Google + | Facebook | Email