Friday, 24 March, 2023

Sequoia-Backed GoMechanic Inflated Revenue, to Fire 70% Staff

<p>GoMechanic has laid off 70% of its workforce amid &#39;grave errors&#39; in financial reporting. The Gurgaon-headquartered GoMechanic, which offers auto-services such as repairing and carwashing, has been struggling to raise funds for over a year. A probe into the startup by EY as part of due diligence for the recent funding deliberation found scores of issues, including inflated revenue and that some garages were fictitious.</p>