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Can Ankush Grover take Rebel Foods to the IPO finish line?
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
Business
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Indiabulls’ acquisition of Fintech Cloud comes with red flags attached
Its Rs 1,050 crore bet on the five-year-old company—valued at an implied 11.2x revenue multiple and a promoter with baggage—raises serious questions around due diligence.
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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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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.

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Tabby kicks into top gear with $233 million fundraise
The most valuable Mideast fintech is expanding beyond buy-now, pay-later into financial services across Saudi Arabia and the UAE.
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Captain Fresh’s acquisition binge strains its balance sheet
The seafood marketplace’s rapid global expansion has lifted the top line, but left it with rising debt, weak cash generation, and uneven returns.

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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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Can Ankush Grover take Rebel Foods to the IPO finish line?
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.

Education Technology

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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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