"I want to have my own start-up," is the chant of every starry eyed student and every frustrated employee. The recent valuation of nine-year-old Flipkart at $15 billion makes it more valuable than the 50-year-old IOC (Indian Oil Corporation) Ltd, and several other companies, putting the online retailer in the top 20 firms vying for market capitalisation. Such hyped valuations of tech start-ups lead every aspiring entrepreneur to venture into the tech space. But here is the million dollar question: Are these valuations justified?
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