Sadly, not the first one to do it and won’t it be the last.

Founder

Product Manager

High incentive to bloat metrics, suck up venture capital and edge out rivals.

The smart founders know how to not to let it catch up with them.

So true.. I don't know how it is not illegal... With no action against them, we can see similar bloating up of numbers in future

Product Owner

Investor

Product Marketing Manager

Strange thing is why are Sequoia backed startups facing this only in the past 1 year or more. Bharat Pe, Trell, Zilingo and now Go Mechanic.How can such a big Fund make such a mistake again and again about not looking back on the finances after funding the startup.

Sequoia seems to put extraordinary pressure on founders and companies? Or maybe they lack proper process or due diligence. Could be that they are more into non useful metrics than ARR and cash in the bank

Software Engineer

GoMechanic cooked the books 😐

Cloud Architect

GoMechanic cooked the books 😐- Grapevine

Welcome to News Discussion's Private Community

- 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

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

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

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

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

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

Gomechanic going bust?

Growth 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

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

Heard mojocare numbers are fudged? What do you think? Something cooking?

Mojocare going the GoMechanic way?

Venture Capital

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

Info Edge Writes Off Entire Investment In Sequoia-Backed Bijnis

https://inc42.com/buzz/breaking-info-edge-writes-off-entire-investment-in-sequoia-tiger-backed-bijnis/

Another startup bites the dust. Sequoia backed Bijnis is dead.

Program Manager

Techie loses Rs 28 lakh to dating scam; police reveals how he was trapped https://timesofindia.indiatimes.com/technology/tech-news/techie-loses-rs-28-lakh-to-dating-scam-police-reveals-how-he-was-trapped/articleshow/112127210.cms

Beware Guys

Real Estate

Don’t think Zilingo, GoMechanic, Mojocare founders faced any such enquiries? Or did they?

Might be the first time a founder is being litigated against for fraud?

True for gaming and social products. Especially, when the market dynamics is more around winner take all.

Invest in mechanics!

GoMechanic, Mojocare.. who is next?

Finance Consultant

Welcome to Confessions's Private Community

I was into a founder’s office. Working closely with the leadership team of a funded Agri-tech startup (Which shall strictly remain anon in this post)

Does it happen to others the same way as it did to me?

I was one of the first FOs in the org and I was trying to figure what is up with this startup.

About 21 days in to company, I was helping a co-founder with a report that has to go out to investors.

I open up the metrics dashboard to enter numbers when he said “he knew the figures by heart”, so we began entering metrics like GMV and others. These were 5x of my range.

I said we should just double check ? He said there are factors in the formula that I have not considered at all and I finish the report as per the numbers he gave me.

Confused, I later dared to ask the lead PM how are we computing GMV. And told him about my dilemma to tell the founder we need to just double check his calculations.
Bless my naiveté.

He had a nervous smile and told me we report numbers that keep the startup exciting and afloat. We will catch up very soon with them.

The next morning, the founder also took me for a meeting and explained how doing this is important for everyone in the company to succeed.

I was very scared but lived in an autopilot of nervousness for 6 months. Part-took in it while being scared of going to prison myself.

I felt a terrible dread in my stomach in every interaction with with the admin and CA teams since in my first interaction I came across what I sensed to be a big fake bill. Was I blind to miss everyone in the office get a new chair the last month?

I never asked doubts on the money numbers the CA team gave me. But had reasons to doubt it basis other business data I had access to.

Everyone seemed to be on the same kind of auto pilot, good people who had never done anything wrong before this as far as I knew. Everyone considered leaving the culture and toxicity every week. 

The day I left, I had the email of the investors of the company since I’d emailed them countless decks and reports. I really wanted to drop an anonymous email revealing what I knew to them but I was afraid of the following repercussions to my career and I let the matter go.

GoMechanic cooked the books 😐

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