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Razorpay's $5 billion valuation question
The fintech is gearing up to go public at a $5-6 billion valuation. Much like beauty, value lies in the eyes of the beholder, but public markets are rightly cross at obscene startup valuations.
Business
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External capital for Abu Dhabi’s youngest sovereign fund unit
L’imad Capital’s new idea of outside money, Manchester City’s thorny verdict and other updates from this week.
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Business
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A $12 billion UAE project in the Maldives
Billionaire Mohamed Alabbar goes for the Indian Ocean archipelago, India’s PhonePe gets UAE approval, and other updates from the week.

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Internet
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VCs put $86 million into FirstClub. But is it venture fundable?
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.

Middle East

Business
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Saudi Arabia’s big push to clean up its markets
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
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Best of Internet Coverage

Internet
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The Snapdeal problem now belongs to public investors
Parent AceVector is headed for a public market debut next week. As much as 97% of its revenue comes from two businesses. One is already a listed entity, the other a missed opportunity.

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Chaos
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RSS chief's North America visit did not go well. Its problems run deep
Influence cannot be manufactured through diaspora networks, carefully branded events or political donations. It requires honesty and credibility.

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Startups

Internet
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The Snapdeal problem now belongs to public investors
Parent AceVector is headed for a public market debut next week. As much as 97% of its revenue comes from two businesses. One is already a listed entity, the other a missed opportunity.

Education Technology

Internet
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Allen Career Institute is in flux and nowhere close to an IPO
Four years after Bodhi Tree’s investment, the test-prep giant remains caught between a slowing legacy business and growth bets that are still in their infancy.

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State of Unicorns

State of the Unicorns
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How ShopClues faded without a fight

The fall of this e-commerce giant within a decade of its launch was marked by blind optimism, a total disregard for customers and a massive failure to read the tea leaves.

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