The author of ‘Big Billion Startup – The Untold Flipkart Story’ helped the students wrap their heads around everything from startup valuations to the metrics used to judge the performance of these nascent businesses.

Dalal described how startups, especially the ones on the Internet, have made the profit metric almost redundant.

Using WhatsApp’s example, he explained how factors such as app downloads, online presence and the larger company narrative were more important as startups try to boost their valuation and secure funding.

Dalal introduced the students to terms such as “Network Effect” and “Innovators Dilemma” and how journalists could identify them. He also spoke about the subscription and advertising business models that startups pursue.

The lack of public information on most startups was the biggest challenge facing journalists covering them, the award-winning author pointed out during his Zoom session on July 13.

Dalal, who has worked with Reuters, Mint and CNBC TV-18, gave the students an idea about the different places they could look for information, with the Google Play Store download numbers being an important one.

He also revealed the patterns to look at, trends to follow and sources to cultivate to succeed in the startup beat. He urged the students to be timely and accurate with their reporting while also stressing the need to be relevant with their content.