India's internet startups are an inflection point: public investors aren’t buying private valuations blindly
· livemint.com
Zepto has held off its public share offer. Earlier listings—think Eternal, Nykaa and Delhivery—were judged by their reach and growth, with private valuations setting offer prices. But market investors now want platforms to show paths to profitability.
This also makes it increasingly difficult to benchmark profitable and loss-making platform businesses using similar valuation frameworks. Two companies may oper...