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Zilingo

Fashion / B2B e-commerceSingapore
💀 Dead / Bankrupt
Peak $970 MillionToday
~-100%
from peak
  1. 🦄
    Became a unicorn
    2019
  2. 📈
    Peak valuation
    $970 Million ’19
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    Wiped out
🔥 Raised & burned
$308M
Total raised
$120K/day
Burned · 7.0y alive
Funding: Wikipedia / Bloomberg
Current status
Ceased operations 2022; tech assets sold to Buyogo (Jan 2023); entered liquidation (Feb 2023).

How it happened

Zilingo was a Singapore-based B2B fashion-technology platform, founded in 2015 by Ankiti Bose and Dhruv Kapoor, connecting apparel sellers with Asian manufacturers. Backing from Sequoia and Temasek pushed its valuation to nearly $1B in 2019. Financial irregularities surfaced during due diligence for a new round; the board fired its CEO in 2022, the company ceased operations, sold its tech to Switzerland's Buyogo, and entered liquidation in February 2023 with nothing left for investors. Employees had sensed the drift years earlier — Glassdoor reviews described directionless leadership chasing too many businesses, favoritism toward a clique of founder friends, and over-hiring before the mass layoffs that came with Covid. By 2023, reviewers simply logged the wind-down.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.

Source: Bloomberg / Wikipedia (valued ~$970M / near-$1B in 2019 with Sequoia and Temasek; CEO Ankiti Bose fired over financial irregularities 2022; liquidation Feb 2023 with nothing to recover)

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