Zilingo Pte co-founders made a last-ditch offer to buy the embattled fashion e-commerce platform as the board debates its future, according to people familiar with the matter.
Zilingo Pte’s board has authorized the repayment of loans demanded by creditors as the troubled startup fights to stave off a liquidity crisis, according to people familiar with the matter.
(May 20): Zilingo Pte has fired co-founder Ankiti Bose, deepening a dispute over accounting practices that’s plunged the once high-flying startup into crisis and sent shockwaves through Singapore’s technology industry. Zilingo ousted Bose “with cause” after an investigation led by an independent forensics firm into complaints of serious financial irregularities, it said in an emailed statement on Friday. Bose said in a separate statement to Bloomberg News her employment was terminated on grounds of “insubordination.”
Singapore-based business to business (B2B) fashion technology startup Zilingo said on Friday it has fired its co-founder and chief executive officer (CEO) Ankiti Bose for alleged financial irregularities.
In a strongly-worded statement, Temasek said, ''We expect our portfolio companies to abide by the sound corporate governance and codes of conduct and ethics."
Sequoia Capital India's Shailendra Singh has stepped down from the board of Singapore-based Zilingo Pte following questions over the fashion technology startup's accounting practices, the report said
The Strategies Behind Destination Shows' Big Comeback businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.