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GOMECHANIC NEWS
VC contract terms get tougher on founder shares after governance lapsesVenture capital firms are tightening founder contracts, with nearly 76% of Indian startups now allowing the forfeiture of vested shares for...- VCs get more involved in CXO search at early-stage startupsThis comes at a time when the Indian startup ecosystem has been mired in a spate of financial mismanagement, flurry of layoffs and reports ...
- 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...
- India not for the fainthearted, but worth it: Lightspeed’s Bejul Somaia after Sequoia’s exitIn a lengthy note posted on Twitter, he said India is not for the fainthearted, but its potential is compelling.
- Decoded: Why Sequoia decided to split into threeThe termination of this once highly successful partnership that scoured the consumer internet and tech universe and unearthed multi baggers...
- VC fund General Catalyst stresses on governance in Indian startupsInstances of financial misappropriation in the last 12-18 months including at startups such as BharatPe, Zilingo and GoMechanic have prompt...
- Zilingo cofounder Ankiti Bose files Rs 820 crore defamation suit against investor Mahesh MurthyMurthy is the managing partner at early stage venture capital firm Seedfund which has backed the likes of redbus, Chumbak and others.
- YouTube’s Neal Mohan is the newest Indian-origin CEO in the tech worldFrom Google and Microsoft to Cognizant and Adobe, a growing number of technology-focused firms are today led by Indian-origin chief executi...
- 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...
- Over 70 Indian startups show exit door to 21K techies, more pink slips comingAs global layoffs deepen, Indian startups are not far behind and have sacked thousands of employees in the past 3-4 months, with many more ...
- Amazon Air promises faster deliveries in metros; Zomato shuts 10-minute food deliveryAmazon Air, the ecommerce giant’s dedicated cargo airline, has been launched in India with the aim of offering faster deliveries for more p...
- Sequoia considers auditing South Asia investments as lapses riseSequoia Capital India will also be more selective when taking board seats at companies and, in some cases, might replace junior members fro...
- Another crypto company goes bustOne of the world’s largest crypto lenders, Genesis froze withdrawals in November after the spectacular collapse of FTX.
- Pricewaterhouse flagged discrepancies in GoMechanic’s FY20 audit; PhonePe raises $350 million with more to comeA senior executive at one of the ‘Big Four’ audit firms said qualifications are always a negative for a company and it means the company be...
- 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...
- 1mg is India’s 21st unicorn of 2022; TikTok hacked, over 2 billion user records stolenTata Digital, a wholly owned subsidiary of the Tata Group, acquired a majority stake (51-60%) in 1mg for a total deal size is in the range ...
- SoftBank plans $35 million bet on India's GoMechanicVision Fund's early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazan...
- Media moves court over IT rulesIn today’s ETtech Top 5 newsletter: Media association challenges India IT rules in Madras High Court; Why e-tailers are upset over draft e-...
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