The likes of Rapido, Ola and Uber have recently been experimenting with a new business model, triggering existential questions and tax confusion.
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The fund seems convinced that technology-led businesses in India are overvalued and not good for making big exits. Instead, what is needed to return large sums of capital are investments in mature companies with a proven track record.
Many companies are exploring the business opportunity that synthetic diamonds offer. It sure seems like an easy business to enter, but will everyone manage to scale it?
With his back to the wall, the founder is exploring options that could benefit him much more than others. Even at the expense of the customers, investors, vendors and employees.