A Chinese consortium has acquired the AdTech pioneer Media.net for an all-cash transaction of $900 million.
The Consortium is led by Zhiyong Zhang, Chairman of Beijing Miteno Communication Technology, a technology, media and telecom (TMT) business listed on the GEM Board of the Shenzhen Stock Exchange. This completes the first step toward Media.net being acquired by, and integrated into, Beijing-based Miteno.
Founded by serial entrepreneur Divyank Turakhia in 2010, Media.net is a leading contextual advertising network. The company supports publishers by connecting them to relevant ads via their Yahoo! Bing network. Media.net’s publisher inventory is available through major demand-side platforms and ad-exchanges.
“Our team has spent the last several years putting together one of the most comprehensive platforms for AdTech, and we are just getting started. The acquisition will enable us to be an even greater platform for innovation and investment on a global scale,” said Divyank Turakhia, Media.net’s founder and CEO.
A serial entrepreneur with a proven track record of performance, Turakhia has had considerable success with other exits. In 2014, Endurance International Group bought four brands that he co-founded with his brother, Bhavin Turakhia, for approximately $160 million.
Divyank started his first internet business in 1996 at the age of 14, made his first million at 18, first $100 million at 23, and now crossed his first $1 billion at the age of 34.
Media.net is a subsidiary of the Directi Group, which Divyank runs with his brother Bhavin. Skenzo, one of the largest companies in the Directi portfolio takes a different approach to traffic monetization by focusing on parked domains. Essentially this is a method of making money off registered domains that have not been linked to a developed website by targeting individuals who may have made an error in entering the web-address for highly trafficked sites.