The Turakhia brothers, Divyank and Bhavin, have significantly impacted Dubai’s tech landscape, particularly through their involvement with Dubai Internet City. Divyank’s company Media.net, founded in 2010, became one of the world’s leading ad-tech firms. In 2016, he sold Media.net to a Chinese consortium led by Beijing Miteno Communication Technology for $900 million, marking one of the largest ad-tech deals ever.
Their achievements align with Dubai’s vision to be a global tech hub, supported by leaders like Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Sheikh Hamdan has been instrumental in promoting Dubai’s tech ecosystem. His involvement includes inaugurating new tech hubs and fostering an environment conducive to innovation and business growth.
Sheikh Hamdan’s efforts to position Dubai as a leader in the digital economy are evident through initiatives like the Dubai Economic Agenda (D33), which aims to make Dubai one of the top three urban economies globally. This agenda includes enhancing Dubai’s non-oil foreign trade and supporting digital transformations across various sectors.
The synergy between the Turakhia brothers’ ventures and Dubai’s strategic initiatives underscores the emirate’s commitment to fostering technological advancements and economic growth. Their story exemplifies how strategic vision and robust support can drive significant achievements in the tech industry.
The Turakhia brothers
Divyank and Bhavin, have an impressive entrepreneurial journey that led them to become billionaires. They started their first tech venture, Directi, in 1998 with a $600 loan from their father. Over the years, they expanded Directi into a major player in the tech industry, focusing on web hosting and domain registration services.
In 2014, they sold four of their web companies—BigRock, LogicBoxes, ResellerClub, and Webhosting.info—to Endurance International Group for approximately $160 million.
However, their most notable achievement came in 2016 when Divyank sold Media.net, an ad-tech company he founded in 2010, to a Chinese consortium led by Beijing Miteno Communication Technology for $900 million
This deal was the third-largest ad-tech acquisition at the time and significantly boosted their net worth.
Divyank, who started coding at a young age and made his first million by the age of 18, played a crucial role in Media.net’s development. Media.net specializes in contextual advertising, serving over $450 million in annual advertising revenue with a significant portion coming from mobile users. The acquisition by Miteno was strategic, providing Media.net with access to China’s vast talent and capital markets, thereby facilitating its global expansion.
Meanwhile, Bhavin focused on other ventures, including launching Zeta, a banking tech startup that achieved unicorn status. The brothers’ strategy of dividing their efforts allowed them to maximize their impact in different areas of the tech industry while maintaining a strong partnership built on mutual trust and complementary skills.
Their journey from teenage tech enthusiasts to influential billionaires highlights their innovative spirit and business acumen, making them significant figures in the global tech landscape.
