Word: jains
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...Rajesh Jain made one of India's biggest business deals of 1999--and ran. Before the score that netted him $115 million, Jain, 32, operated a website known as IndiaWorld, which posted local news and sports scores, primarily for Indians living overseas. His 20 staff members were squeezed into a 970-sq-ft. warren in downtown Bombay. Profits were minimal. But last fall Jain hit a cosmic payday when he sold his portal company, IndiaWorld Communications, to Satyam Infoway, an Indian Internet service provider listed on NASDAQ. The $115 million deal--one of the biggest Internet transactions involving two Asian...
...Jain taught Asia what Silicon Valley has known for a long time: though going public is a fabulous way to cash in on the Internet, selling out to someone else can be a sure-fire moneymaker too. Satyam Infoway wanted content popular with overseas Indians to complement its own domestically oriented portal. IndiaWorld was pulling most of its 13 million monthly page views from outside the country. Jain got an unusual windfall because Satyam Infoway is paying the entire purchase price in cash, not in stock, which is more typical in such deals. His initial investment...
...second-time lucky for Jain, who trained to be an engineer at Columbia University. In 1995, Ravi Database, the software-services company he founded in 1992, went broke. Chastened, Jain embarked on a soul-searching sabbatical in the U.S. What he found was inspiration. Jain noticed that thousands of Indian expatriates had little access to news from home. He figured the Internet was the ideal delivery system...
...bespectacled Jain set up IndiaWorld the same year with money saved from his job. "I wrote my business plan on Post-it notes," he jokes. The site was built almost entirely using public domain software, such as the free Linux platform, and it was maintained on widely available Apache servers. "In our entire five years, we bought only three software packages--Windows, Office and Photoshop," he boasts...
...doubles, Jain teamed up with Andrea Magyera for an 8-4 win. Fleur Broughton and Sarah McGinty breezed...