As the e-commerce startup nears liquidation, we get to the bottom of key allegations involving its co-founder, lead investor and more.
The latest news from Zilingo is that the company is going to be liquidated. As you read this, the fashion e-commerce startup’s board, which mostly comprises the company’s investors, is meeting in Singapore, its headquarters, to discuss next steps.
Zilingo had earlier appointed consulting firm Deloitte to explore options before the company after its business saw a near collapse, even as its liabilities remained. Specifically, a $40 million venture debt from Varde Partners and Indies Capital, which was recalled by the lenders last month. A person directly related to this transaction, who asked not to be named, said the company …
Ashish is the editor-in-chief of The Morning Context. One of the best-known business feature writers in India, he was selected for Germany’s Robert Bosch Stiftung Fellowship in 2012 and received the Mumbai Press Club RedInk certificate of recognition in 2015 for his story “Inside the Network 18 takeover”. Before joining The Morning Context, Ashish co-founded The Ken, where he was managing editor. His previous writing stints include Mint, Forbes India and The Economic Times.
Editor-in-chief
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