Corporate governance mishap in a startup: A case of GoMechanic
Sanjay Dhamija, Reena Nayyar
Informasi Umum
Kode
24.10.016
Klasifikasi
338.542 - Business cycles, prosperity, recession, depression, recovery, panics
Jenis
Case Studies
Subjek
Business Management
No. Rak
Tel-U Gedung Manterawu Lantai 5 : Rak 8b
Tel-U Purwokerto : Rak 4
Dilihat
231 kali
Informasi Lainnya
Abstraksi
The case study revolves around the confession of financial irregularities made by one of the cofounders of GoMechanic, a start-up headquartered in Gurugram, India. On January 18, 2023, Amit Bhasin confessed to financial irregularities in the company’s financial statements, leading to laying off 70% of the workforce of the company. GoMechanic had earlier raised close to US$62m [1] from maverick global investors including Sequoia Capital, Tiger Global, Orios Venture Partners and Chiratae Ventures, and was negotiating to raise Series D financing from the Japanese multinational SoftBank with aspirations to be a unicorn (start-up with a valuation of over $1bn). The confession led to a debate about the consequences of the “growth at all cost” culture being followed by start-ups as well as VCs. GoMechanic was not an isolated instance of a lack of governance in the start-ups. The confession had consequences not only for the GoMechanic but for the entire start-up ecosystem of India, which was the third largest in the world. Bhasin stated that the founders take full responsibility for the situation, and they were working on a plan which was most viable under the circumstances. However, it was not going to be easy to regain the confidence of the investors.
Koleksi & Sirkulasi
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Pengarang
| Nama | Sanjay Dhamija, Reena Nayyar |
| Jenis | Perorangan |
| Penyunting | |
| Penerjemah |
Penerbit
| Nama | Emerald Publishing Limited |
| Kota | New York |
| Tahun | 2024 |
Sirkulasi
| Harga sewa | IDR 0,00 |
| Denda harian | IDR 0,00 |
| Jenis | Non-Sirkulasi |
