Anyone from their team help me understand

Investor

Not sure about the details. But as a customer I knew that their service quality was very poor. Which is surprising because service startups usually deliver delightful experiences for the same/slightly higher price. 

The metrics/revenue faking was ofcourse the bigger choker though

Product Marketing 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.

Welcome to News Discussion's Private Community

Gomechanic saga

Gomechanic saga- Grapevine

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

GoMechanic cooked the books 😐

Cloud Architect

Welcome to Indian Startups's Private Community

How did they reduced their burn so much? Layoffs?

Does anybody know their revenue number?

Dukan turns profitable?

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

- 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

Tech is slowly realizing that Elon was right and a huge amount of overhead is not necessary to grow these companies when you actually manage teams properly.

The markets are savage, Spotify trading at 8% higher after laying off 17% workforce

Product Manager

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

Gomechanic folks

Software Engineer

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

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

Gomechanic going bust?

Growth Manager

Welcome to Personal Finance's Private Community

Can someone clearly explain the terms GMV, Revenue, and Net Sales in the context of e-commerce & and online businesses? Lately, there has been a lot of confusion for me as people are using these terms interchangeably.

GMV vs. Revenue vs. Net sales

Can anyone help me, how/where to understand the startups cash runway and how to calculate it? 
Example: Byjus, ola etc

Company profit check

Welcome to Office Gossip's Private Community

Absolutely sad to see the state of the startups, most of them.
I am a founder myself, and this is a post with equal disappointment with myself as much as it is for anyone else who relates.
Look at all these companies that have raised shit tons of capital, and now make a fraction of money that has been invested in them.
The raised money is spent on outsized, non business sense making acquisition costs, only to keep repeating it till the tap runs dry.
Then when all stakeholders get bored, the service quality plummets, the employees are fired and whole sectors are admonished as being bad.

But, my question is, which sector where large sums of money was invested in early days have come out with flying colours. Fucking nothing !
Edtech, proptech, agritech, ecommerce etc. etc. etc. kuch bhi nahi. 

Is there any sector where a startup which has raised in the 100s of millions in the first 5 years have actually built a sustainable business at any scale ?
Then scaling down, isse acha, scale slowly.
The worst part of this whole drama, is pushing the innovation wheel backward and destroying customer sentiment.

Isse acha, raise less money inititally, build slowly, and only scale when the market is ready. Artifical growth makes no sense, unless you have a treasure chest that shall never run out.
Even in that case, spend the money on assets and not on random acquisition costs, direct or indirect.

As founders, let's do better, nahi ?

Rant or is it ?

Founder

Whats with Fi money laying of 10% of their workforce for a 2 yr extended runway

Clueless founders, panicking investors, dead market and garbage product. All combine to create these situations.

Analyst

Just wanted to give some updates now that it has been 1 month since the last post

1) Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved. 
2) There are more people in the pipeline and will get more clarity by month end.
3) Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered.
4) All contract workers have been terminated. Interns have been told that they won't be receiving PPOs.
5) Senior Management Has been asked to take 20% paycuts. 
6) Even at Junior level, people have been asked to take pay cuts or resign.
7) Lots of tools used in tech are being removed and AWS subscription has also been revised.


Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/

Rampant Negativity at Yubi Part 2

This is a big big number

Software Developer

Byjus Revenue

40,000Cr to Dream11
20000Cr to GamesKraft
16,000Cr to Deltacorp

This will be a major blow to the online betting industry. All the top companies have taken a major hit. Will be interesting to see how they recover from it. Deltacorp shares already down 18% today!

Central Board of Indirect Taxes and Customs is likely to send show cause notices to over 40 skill-gaming companies for alleged tax evasion after the Supreme Court stayed a Karnataka High Court judgment

Dream11 parent approaches Bombay High Court challenging GST evasion notice

40,000Cr GST notice to Dream11

Should Target Astrology startups as well those are just as dumb-predatory-addicive as online gambling

Gomechanic saga

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