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GOMECHANIC REVENUE GROWTH
Fidelity, Accel lead $160–170 million investment round in SpinnySpinny has secured 160–170 million in a funding round led by US-based investors Fidelity and Accel Leaders Fund. The deal includes 90 milli...- Cars24 plans to go public in next 12 months: CEO Vikram ChopraSharing the company's H1FY26 financials in a post on X, Chopra said, "Hoping to go for the IPO in 6-12 months from now. We have built momen...
- GoMechanic eyes over three-fold business growth to Rs 700 crore by 2027 before launching IPOGoMechanic at present provides services through 800 garages across 125 cities and plans to scale up to 2,500 garages across 500 cities by 2...
- GoMechanic achieves operational profit in April-June; FY24 revenue hits Rs 210 croreGoMechanic, acquired by Servizzy in March 2023, achieved profitability by June 2024. Led by Himanshu Arora and Muskan Kakkar, it reported R...
- CaratLane to challenge FEMA violation notice; govt may use DigiLocker for parental consentCaratLane Trading is under the lens of the Enforcement Directorate (ED) for alleged violation of Foreign Direct Investment (FDI) regulation...
- Peak XV, Orios, Chiratae file EOW complaint over financial irregularities at GoMechanicThis development comes seven months after Gurugram-based GoMechanic’s founders admitted to financial misreporting in a LinkedIn post. Orios...
- Integrity, good governance must for startups to grow in the long term: Amitabh Kant“We should lay down clear norms of self-regulation from inception to early-stage, from early-stage to growth stage, from growth stage to IP...
- Exclusive: Mojocare investors weigh legal action against foundersDraft note circulated among investors says founders inflated revenue; final forensic report expected in 10 days.
- Rivals snag users from top payment gateways hit by RBI freeze; RoC seeks MCA nod to examine GoMechanic’s booksPayment aggregator CCAvenue has seen an 18% jump in new merchant sign-ups in the October-December period, while merchant addition tripled i...
- Exclusive: RoC seeks to examine GoMechanic's books after allegations of financial irregularitiesLast week, the National Company Law Tribunal (NCLT) issued a notice to Sequoia-backed beleaguered automobile after-sales service startup ov...
- ETtech Long Read: How GoMechanic founders floated new business as trouble mounted at car servicing startupWhile it isn’t unusual for new ventures to approach investors to raise capital at an early stage, March 2022-founded Morsebiz’s journey wea...
- How GoMechanic founders floated Morsebiz as car servicing startup unravelled; BPM firms turn to cost-saving dealsAs the business collapse looked imminent due to misreporting of financials, cash burn and other reasons, GoMechanic's founders floated a ne...
- SaaS pips fintech as largest unicorn creator in 2022: Orios Venture reportHowever, many of the SaaS unicorns reached the coveted $1-billion valuation on the back of inflated price-to-valuation ratios, Orios managi...
- Layoffs in 2023: the most important stories this weekGoogle is the latest tech firm to trim staff as the economic boom that the industry rode during the Covid-19 pandemic ebbs. The tech giant ...
- Pricewaterhouse raised issues with GoMechanic’s operations in its FY20 auditPricewaterhouse audited financial statements of GoMechanic only for the 2020 fiscal year, following which it was replaced by BSR & Co, an a...
- How GoMechanic unravelled after SoftBank-Khazanah funding round collapsedGoMechanic will initiate financial audit, lay off 70% staff: cofounder Amit Bhasin in a LinkedIn post.
- Investors of GoMechanic seek audit into 'inflated' financialsThe investors - Tiger Global, Sequoia Capital and Chiratae Ventures - have jointly appointed a third-party firm to investigate the matter i...
- GoMechanic founder Amit Bhasin admits to financial misreporting; firm to lay off 70% employeesGoMechanic layoffs will affect about "70% of the workforce", said cofounder Amit Bhasin in a LinkedIn post
- Financial audit, layoffs at GoMechanic after fundraising fails; Tata Tech eyes Rs 4,000 crore IPOWith the funding round falling through and many questions being raised by incoming investors, the company was left with no other option but...
- The unravelling of GoMechanic after SoftBank-Khazanah funding collapsed; Oyo to refile IPO papersWith SoftBank and Malaysia’s Khazanah pulling the plug on GoMechanic funding round after EY flagged issues like inflated revenues, fictitio...
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