Cofounder at GoMechanic.in || Looking for profiles for Product, Merchandising and Digital Marketing
We founded GoMechanic in 2016 to bridge the gap between process-oriented authorized service centers and cost-effective local workshops for people who were looking for a better car repair experience. In a short span of time, we were able to create a startup that provided a 'network of technology-enabled car service centers, offering its services at the convenience of just a tap.’ It was our conscious commitment to facilitate a convenient, affordable, and reliable experience that helped us win the trust and hearts of our customers. We were fortunate to get support from a large number of investors in this journey. We came a long way, from starting out with a few hundred customers to expanding our business exponentially to serving more than 7 Lac customers thus far As entrepreneurs, we identify problems, come up with solutions, and explore every opportunity to grow those solutions to meet unmet needs. But in this instance, we got carried away. Our passion to survive the intrinsic challenges of this sector, and manage capital, took the better of us and we made errors in judgment as we followed growth at all costs, including in regard to financial reporting, which we deeply regret. We take full responsibility for this current situation and unanimously have decided to restructure the business while we look for capital solutions. This restructuring is going to be painful and we will unfortunately need to let go of approx. 70 percent of the workforce. In addition, a third party firm will be conducting an audit of the business. While the situation is far from anything we could have ever imagined for Go Mechanic, we are working on a plan which would be most viable under the circumstances. Need the support of our well wishers more than ever.
Devesh Nakra
1y
Amit Bhasin as an automobile dealer i can understand your pain! However the industry at large can absorb most of the talent from the company you built! Please put in a platform to help facilitate the same. Edit : Interested talent for NCR, Alwar, Karauli districts of Rajasthan may directly message me for positions at Maruti Suzuki India limited dealer sales and service. #Hiring Gaurav Gupta
I joined GoMechanic 4 years back When Company was expanding its Boundaries and rapidly growing into the Automobile aftermarket Space. I am fortunate that I have witnessed GoMechanic Journey from a fast Growing Automotive startup to an International Brand. I have got ample number of support from the GoMechanic Family. I have learned lots of things and got valuable knowledge from you Amit sir, You are such a positive and passionate guy which I have ever meet, I strongly believe that this time will get over and we will bounce back very soon.
“ERRORS. IN. FINANCIAL. REPORTING.” Buddy, have you lawyered up? GoMechanic.in VCs, how are you going to recoup GP money? And what’s with the comments here? The guy is pretty much admitting to financial fraud and we have morons with “more power to you” ????
Akash Pandey
1y
You wanted to build big. You saw a way to do that by faking numbers. Of course, in the process you lost track of the lies and here we are. The only problem here is you get a free pass. Maybe not unscathed, but better off than most of your people who believed and worked "for" you. To the people who are defending him faking the number because Entrepreneurship is hard and how we all need to see the grit and determination of the team - for every go mechanic that got funded, there are 100 other companies which will probably never be funded because they didn't fake their numbers. In hard real world, their well wishers and supporters are not doing any service to entrepreneurship regardless of what they feel about this situation.
Raksh Anand
1y
Amit Bhasin Building GoMechanic along with you and our excellent team was an amazing journey and I can attest to the hardworking and dedicated employees and founders who will work to overcome this financial crisis. The company has always been innovative and resilient in the face of challenges, and I have no doubt that gomechanic will come out stronger on the other side. I am grateful for the opportunities and experiences that this company has given me and I hope for the best.
Puneet Gaur
1y
This must be treated as confession with regard to financial crime and this fraud must be sent to jail immediately. any financial irregularity and fudging of books must be dealt with iron hand to salvage the image of the country, these frauds are bringing shame to India story. rest of his statement is just shameless attempt to portray himself as blah blah nice man, In real terms - he has committed the financial fraud by manipulating the books.
I have been reading about these comments and critics. I had mixed feelings when I read this post. I do feel sad about the employees who lost their jobs. But I want to share a few thoughts with everyone (especially the people who critic): - Entrepreneurship is complex, and multiple tough decisions must be taken even though he/she does not want to take them. This is one of those decisions where hard calls are taken to save the company. - Amazon has layoff 18,000 employees to save the bottom line. Why would this post have some much attraction? - I knew Amit from campus (10 yrs ago). He is an open and honest person. No one wants to be criticized on an open forum. I respect him for posting this on LinkedIn, where he will be judged openly. - I don’t want to compare other start-ups. But I know for sure that everyone makes mistakes. Startups are built on correcting these mistakes.
Could you please elaborate on the 'grave errors of judgment in financial reporting'?
Maanav Garg
1y
Burnt all cash Destroyed employees future Taken your profits Spent luxurious life And now this stunt Don't take advantage of your innocent face nd education you guys are not doing well nd know what inner side going on. Just think on the other side of coin also for the people who worked for your venture day night
Director at Classic Motors | IMI Delhi | Shaheed Bhagat Singh College (DU)
1yAmit Bhasin We are an automobile dealer based out of Rajasthan and NCR of TATA Motors. We would like to extend the support if we can help your team members and support staff to secure jobs in automobile industry and dealerships. Expecting a reply from your side so that we can start it at the earliest and help everyone. Devesh Nakra Let's help and support Amit Bhasin and his team!