GoMechanic, acquired by Servizzy in March 2023, achieved operational profit in the June 2024 quarter.  The company posted a revenue of Rs 210 crore in FY 202324 and Rs 85 crore in the AprilJune 20...

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- GoMechanic, acquired by Servizzy in March 2023, achieved operational profit in the June 2024 quarter.
- The company posted a revenue of Rs 210 crore in FY 2023-24 and Rs 85 crore in the April-June 2024 quarter.
- New management led by Himanshu Arora and Muskan Kakkar turned the company EBITDA positive.
- GoMechanic plans to expand from 50 to 1,000 cities by 2027, aiming to service 1 out of 10 cars in India.
- Currently, the company services over 30,000 cars monthly through 600+ workshops in 50+ cities. 

 Source: Economic Times

GoMechanic Achieves Operational Profit Under New Management

Journalist

GoMechanic Achieves Operational Profit Under New Management- Grapevine

GoMechanic cooked the books 😐

Cloud Architect

Welcome to Indian Startups's Private Community

After GoMechanic, now Mojocare is said to cook its books. Is this a trend? and which other companies are showing similar signs?

GoMechanic, Now Mojocare

Content Strategist

VC here. Doing this for fun.
Don't take all views seriously.

Comment a startup's name, I'll share if it's promising or whatever I know

Analyst

https://themorningcontext.com/internet/gomechanic-lays-off-70-of-its-workforce

Read this here, would be helpful to know if any of you heard similar things

Did GoMechanic lay off 70% workforce?

Associate

Welcome to Office Gossip's Private Community

GoMechanic
Hi - i'm a reporter based out of Bengaluru. I want to speak with some folks from GoMechanic who are in the know about what's going on in the company.
you can reach out to me anonymously on backgroundsources@proton.me. the conversation will be completely confidential, off the record and protected unless you decide to go on the record.
thanks!

GoMechanic

Software Engineer

A little birdie tells me that go mechanic is on the verge of shutting shops. Any truth to that?

Gomechanic going bust?

Growth Manager

Curious to know how they inflated the revenue and lowered the cost. It can be easily caught by reconciling cash flow statements with PnL.

Gomechanic saga

Investor

Are you a first time manager or do you have any questions around workplace productivity, team management, culture? Ask away!

15 yrs of exp., 2x founder, 1 exit, led diverse teams. AMA

Founder

Curious to know what exactly they did to inflate the revenue and lower the cost. It's easily trackly by reconciling cash flow with pnl. This must be known to their sr. Employees and Investors.

What actually happened at Gomechanic

The Morning Vine 🍇

Goldman Sachs has set a price target of INR 2,800 on MapmyIndia's stock, implying an upside of almost 40% from its close on Wednesday.

Here's why this matters:

1/ Riding the Digital Wave: MapmyIndia isn't just mapping streets; it's mapping India's digital transformation. From smart cities to autonomous vehicles, the company is at the intersection of critical growth sectors.

2/ The Numbers Tell a Story:
- 35% YoY revenue jump to INR 379.4 Cr
- 25% profit growth to INR 134.3 Cr
- Projected 38% revenue CAGR (FY24-FY27)
These aren't just figures; they're proof of a scalable, profitable model in a sector where growth often comes at the cost of profitability.

3/ Beyond Navigation: MapmyIndia's expansion into telematics and government digitization signals a pivot from being a map provider to becoming a critical digital infrastructure player.

4/ The 40% Upside Question: Goldman's target implies MapmyIndia is significantly undervalued. Is the market missing something, or is Goldman overly optimistic?

5/ The Bigger Picture: MapmyIndia's success could be a bellwether for India's broader tech ecosystem, showcasing the potential for homegrown companies to dominate in niche, high-growth sectors.

🍇 for Thought: Goldman Sachs' bullish outlook on MapmyIndia challenges the notion of Google Maps' invincibility in the geospatial landscape. Despite Google's global dominance, MapmyIndia's projected growth suggests there's significant value in localized, specialized mapping solutions, especially in sectors like automotive and government. This highlights the potential for homegrown tech companies to carve out lucrative niches in markets traditionally dominated by global giants. However, MapmyIndia's ability to sustain its growth and fend off competition from both local and international players will be crucial in determining whether it can truly rival Google's influence in India's digital mapping ecosystem. 🗺️🇮🇳

Image Credits: Inc42

Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit

Hi — i’m hearing from a friend the company is about to shut down? any discussions happening at your end around this?

Gomechanic folks

1 year back all startups were losing money like crazy while all of a sudden everyone from Swiggy to Meesho to Unacademy are profitable or EBITDA positive.
Other companies which were profitable earlier have not shown a spike in profit.

Were these companies uselessly burning money earlier if they can just suddenly become profitable in 6-8 months

Profitable startups

Product Manager

I know this might be a one off, but even if they are close to profitable/break even quarters, this can become a strong business

Big if true, given Meesho’s scale

I dont trust a single words come out of the CXO’s mouth in case of startups. All bullshiting and hyping

Engineering Manager

- Moving Tech Innovations Ltd, the firm behind Namma Yatri, raised $11 million in a pre-Series A funding round led by Blume Ventures and Antler, with participation from Google.
- The funds will be invested in technology, R&D, and product innovation to empower drivers, integrate public transport, and enhance customer experience.
- Moving Tech aims to increase driver earnings and provide reliable, affordable, and sustainable mobility solutions through direct-to-driver and multimodal transportation models.
- Originally launched as the Yatri app, Namma Yatri debuted in Bengaluru, Mysuru, Tumkur, and Kochi, and has expanded to Chennai, where it also facilitates metro-ticket bookings.
- The company was spun off from Juspay in April 2020 and is led by Shan M S and Magizhan Selvan, who aim to create an impact similar to UPI in India and Linux worldwide. 

 Source: Moneycontrol

Namma Yatri Parent Raises $11 Million in Funding

Some finance person needs to explain this

Software Developer

Context - Morning Context article on Teachmint
https://themorningcontext.com/internet/teachmint-is-the-latest-edtech-on-the-verge-of-a-crisis

IITians or Ponzi Schemers?

Some excerpts from the article: 
  
 Their core product is not relevant to schools in the post-pandemic world,” says the edtech entrepreneur. “Unless they are able to build additional layers, they will not be able to monetize.” 
 “Burn has been relatively high in the past, however, we have aligned our burn and business structure to be in-line with the current market and macro factors,” said the Teachmint spokesperson. After starting paid subscriptions late in 2021-22, revenue saw “a major ramp” in 2022-23, they said. The company is “working towards breaking even over the next 3 years”. 
  
 “The money got to their head. It gave them fake confidence and COVID exacerbated that. They became cocky and arrogant,” says the second former employee. “I remember discussions used to be like how to make a $10 billion company. And we were like, please get the revenue of $1 million. They thought whatever they touch will turn to gold. And this has been the reason for their downfall.” 
  
 “It is pretty shocking to see identical Mercedes SUVs in the parking lot. How can you do this after raising just a Series B?” asks a second former employee, also on condition of anonymity. “Especially when you don’t have a product and vision?” 
  
  
 “Both Mihir and Divyansh bought houses worth crores of rupees. All this was done when the company still had no steady revenue,” says a third former employee, requesting not to be identified. 
  
 The buyback “is very similar to a founder secondary [just a different structure],” says a VC investor, asking not to be named. “Founder shares are typically locked in. So, if it is a small amount, <Rs 10 crore type in a mature company, yes. Else, likely no.”

GoMechanic Achieves Operational Profit Under New Management

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