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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
As the e-commerce startup nears liquidation, we get to the bottom of key allegations involving its co-founder, lead investor and more.
Editor's note: 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 has less than $15 million in cash balances and is in no position to retire the debt without further capital infusion. As things stand today there are no offers for purchase of the once famous unicorn. Except a last desperate attempt from Ankiti Bose, the company’s disgraced co-founder, to purchase whatever remains of the company at perhaps a throwaway price. The company's co-founders, Bose and Dhruv Kapoor, who have been at loggerheads seem to have buried their differences and come …
As the e-commerce startup nears liquidation, we get to the bottom of key allegations involving its co-founder, lead investor and more.
Editor's note: 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 has less than $15 million in cash balances and is in no position to retire the debt without further capital infusion. As things stand today there are no offers for purchase of the once famous unicorn. Except a last desperate attempt from Ankiti Bose, the company’s disgraced co-founder, to purchase whatever remains of the company at perhaps a throwaway price. The company's co-founders, Bose and Dhruv Kapoor, who have been at loggerheads seem to have buried their differences and come …
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
Pricing constraints and uncertain daily-use demand cast doubt on instant help’s ability to replicate quick commerce.
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
Pricing constraints and uncertain daily-use demand cast doubt on instant help’s ability to replicate quick commerce.
