Everyone dreams of earning lots of money and becoming a billionaire one day, isn’t it? These 2 brothers from Mumbai made this thing happen. Want to know how luck favored them? Read on…
Both brothers Divyank Turakhia and Bhavin Turakhia sold their tech startup ‘Medianet’ to Chinese firm Beijing Miteno Communication Technology, a media and telecom company for a HUGE AMOUNT. Curious to know how much they sold their firm for? They sold it for a whopping $900 million i.e. around 6,000 crores, isn’t that super-duper amazing?
Medianet’s deal is counted among the most expensive one in this field. Bhavin and Divyank nurtured their startup very well and made it reach heights of success. The company offers several services and products related to targeting, evaluating and creating ad campaigns.
They also offer support to publishers and connect them to various ads through their extensive network on Yahoo and Bing.
Now, in terms of value, this deal has surpassed other big deals, for instance Google’s purchase of AdMob for $750 million and Twitter’s Acquisition of MoPub for $350 million. Everyone is surprised to see such a deal happening in a period when the tech industry is a bit unstable.
This association was lead by Zhiyong Zhang, the Chairman of Beijing Miteno Communication Technology and $426 million have already been paid. Rest $474 million would be paid as per the schedule discussed in the agreement.
Basically, Medianet will be the subsidiary of BMCT.
So what do you think? Isn’t it a superb deal? Do let us know your thoughts in our comments section below.
