Ceased operations 2022; tech assets sold to Buyogo (Jan 2023); entered liquidation (Feb 2023).
The rise & fall
7 moments · 2015–2023
The key moments, with employee sentiment along the way.
2015
🌱
2015
Founded in Singapore
Ankiti Bose and Dhruv Kapoor connect Southeast Asia's fashion sellers to apparel manufacturers.
Wikipedia
2019
📈
2019
The peak: ~$970M — almost a unicorn$970M
Sequoia and Temasek push the B2B fashion platform to within a whisker of the $1B mark.
Bloomberg
2019–23
💬
From the inside · Glassdoor reviews, 2019–23
Employees sensed the drift years before the collapse: Glassdoor reviews described directionless leadership chasing too many businesses at once, favoritism toward a clique of the founders' friends, and over-hiring before the mass layoffs that came with Covid. By 2023, reviewers were simply logging the wind-down.
2022
2022
Irregularities surface in due diligence
Vetting for a new funding round turns up financial irregularities; the board suspends and then fires CEO Ankiti Bose, who denied wrongdoing.
Bloomberg
2022
🪦
2022
Ceases operations — joins the Unitard Club 💔
Months after the CEO's ouster the platform simply stops: $308M raised, and nothing left to recover.
Bloomberg
Jan 2023
Jan 2023
Tech assets sold to Buyogo
Switzerland's Buyogo picks up the technology.
Wikipedia
Feb 2023
Feb 2023
Liquidation, with nothing for investors
The company enters liquidation with nothing to distribute.
Bloomberg
$970Mof peak value erased · 7 years
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
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.
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)
