The Turakhia Brothers - Founders of Directi & Media.net | Motivational

The Turakhia Brothers - Founders of Directi & Media.net | Motivational | Divyank & Bhavin Turakhia

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The Turakhia brothers are known as founders of Media.Net and Directi. They sold Media.net for about $900 million to Chinese Consortium.
Here’s the things I learnt from their story:
There’s never a right time: You make it right
By the age of 9 Divyank was developing computer games! At 13 he was selling computer projects to other students within his school. He used to read a lot of business related books and biographies too.
When he was 14, he started freelance consulting for large corporates. Bhavin was 2 years elder to him. This was around the time when the internet had just come up in the country and it was a good opportunity to consult others on how to setup their website, even build it for them, help them setup their security setups, etc. He did this for about two years.
He realized that to scale up, he would have to sell a standard process to everyone instead of custom made projects to people. No matter if it was 10 customers or 10 million customers.
But before we go into how this transformation suddenly happened, it’s also important to know the story of Bhavin Turakhia - his elder brother.
Bhavin - his elder brother, was interested in doing a business in computer science since the time he was in class 10.
Now those years are the defining years of life when everyone just forces you to study for your boards and he did spend two years studying for engineering - that’s class 11 and 12. By the time 12th grade came along, he had decided to give up on formal education. He was reading so many business books, and those became a good source of validation.
It’s you who decides whether you fail or not
The first company was BITS and PC’s in 1996.
This company was meant to assemble and sell computers. He would go door to door and sell computers. He didn’t make much money. Probably lost some.
When the internet came in - he imagined that this would impact everything back then. So he decided that whatever he would do in computers now - would be internet related.
So he started the next company - called webspinners.
It would be related to building webapps and websites for clients.
He learnt html, css, perl, cgi and wrote applications for a bunch of people and ran this for quite some time. About 12 months were gone and it wasn’t possible to scale this. He made just marginal amounts of money.
That’s when he learnt that to scale - there has to be some level of automation and easy replicability.
So he started Directi in 1997.
He spent about a year and a half in this with no sign of success. He was trying to build a recruitment automation software where the software would read the resume and help automate recruitment.
Why did he get stuck? 0.5m resumes were needed and it was just 50000 people on the internet at that time! He was too early into the market and this resulted in a deadlock.
As I said - failures are the pillars of success. Notice that by now, it had been about 5 years of work experience for him!
He was still so young, but with loads of experience now.
He made a pivot. He bought servers and decided to sell hosting and domain related services. He borrowed 25k from his father and bought a server from where he could sell hosting services. These businesses are still known today as bigrock, logicbox etc. That’s when they started to make profits and saw the first light of success0. It was this small space in dad’s office that they occupied.
How thinking big helps you
Now let me technically explain to you how it is different when people think big.
In 2000-2001 - they used to collect money through cheque sand cash from people. So they learnt about credit card payments. And not much later - they wrote their first payment gateway! They didn’t like to send a peon to someone’s office to get a check. And this not only helped them, it even ended up becoming a product line of theirs which they called Transecute!
Due to this knowledge about the internet - soon after, a big opportunity in domains opened up when the Network Solutions (NSI) monopoly in the registration business came to an end. The retail price of domains was as high as $70 for two years.
In October 1999 domains were now available for just $13 a year.
Domain names were the entry point to sell all web services - web hosting, dedicated servers, digital certificates, payment gateway solutions etc. at that time.
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