Startup valuations often spark debates. "Mind-numbing," "unrealistic," and "without any base" are common reactions in social circles and among traditional business owners. But as a corporate finance professional, let me break it down—and I’ll use Zomato, one of India’s most celebrated unicorns, to explain why these valuations make sense.

The Capability Maturity Model (CMM) provides a structured way to assess and improve process maturity, from ad hoc workflows to continuous innovation. Understanding where your organization stands can help reduce risk, enhance efficiency, and drive long-term success.