NRI Gurbaksh Chahal sold his Company $300 million to Yahoo

 

Tarn Taran To Techland -

By Varinder Walia
Tribune News Service
News Source: http://www.tribuneindia.com

Have you ever imagined waking up one day and realising that you are the proud owner of $ 300 million. Sounds thrilling and a bit dreamy at the same time. But for 24-year-old Gurbaksh Chahal, a resident of Tarn Taran, the life has taken a turn of 360 degree. Only three years ago, Chahal floated an internet company with its headquarters located in San Jose and six other locations in California and international branches in England, Canada, Bellarus and France.
Today he is a rich man with $ 300 million in his kitty. The changing day of his life came on September 7 when Yahoo took over the company for $ 300 million.

Chahal’s father Avtar Singh Chahal, commissioner for persons with disabilities at Santa Clara County, California, had migrated to the USA along with his wife in 1985 with $25 each in their pockets. The kids followed them. At that time Gurbaksh was only two years’ old.

Gurbaksh Chahal with Parents

His first brush with the booming Internet industry came during his high school at the age of 17 when he floated an Internet company, Click Agents, which according to him was created out of his bedroom in December, 1998. Within two years, Chahal took the company into a strategic multi-million dollar merger in a deal valued at up to $70 million with its publicly traded competitor, ValueClick, Inc (Nasdaq: VCLK) to create the largest Internet advertising network.

From December, 1998, till November, 2000, Gurbaksh retained the role as the chairman and CEO. After the merger, Gurbaksh retained the role as president, where he oversaw the day-to-day operations of the Click Agents/ValueClick, Inc as well as continued to execute the strategic vision of the company.

Unlike many other teenagers, Chahal didn’t waste the money, but raised another company named BlueLithium. However, the story doesn’t end here. Chahal brought extensive operational, leadership and management expertise to BlueLithium Inc. Chahal also spent three years leading venture firm HennaSky, where he focused on early stage startups in emerging markets focusing on high-growth technology companies.

In the present day, the company delivers over six billion ad impressions to over 60 per cent of Internet users every month for its growing customer base of Fortune 1000 corporations, direct marketers and advertising agencies.

Talking to The Tribune, Chahal said his dream had come true and he was extremely happy that he could be able to pay rich tributes to India and Punjab at such a young age.

“Ever since the word has gone out, I have received thousands of emails from every nook and corner of world. My son has made me proud. Not only has he brought laurels for his country, but also for his hometown Tarn Taran,” said Avtar Singh.