Zilingo

2022 - 6 - 20

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Image courtesy of "Inc42 Media"

Zilingo Board Meets; Voting Delayed On Management Buyout ... (Inc42 Media)

While the Zilingo board met on Monday, the directors decided to adjourn voting on key issues, including the management buyout or liquidation.

And then there’s the matter of culture as well. While typically management buyout offers are seen as a relief for companies in crisis, it is largely a solution to prevent dilution or devaluation. “As founders it is our ultimate responsibility to make sure that we do whatever it takes to make sure the lights stay on at Zilingo and in the homes of the hundreds of people who are part of it. However, the biggest questions currently are around the viability of Zilingo’s business itself. No matter what our differences may be, at the end of the day we started this company with the same goal. The management buyout offer, reported first by Inc42 on Sunday (June 19), included a commitment from an unnamed investor, who would be infusing $8 Mn into the company in tranches.

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Image courtesy of "Moneycontrol.com"

Zilingo's shareholders await board's decision as meeting ends ... (Moneycontrol.com)

Ankiti Bose (Image: @ankitibose/Instagram). Singapore-based business-to-business (B2B) e-commerce startup Zilingo's shareholders are in a wait-and-watch mode ...

Bose endorsed Kapoor's offer and the two founders claimed to have gotten financial commitments from a new group of investors. The embattled startup's Board of Directors, including its co-founder and chief technology officer, Dhruv Kapoor, met earlier in the day to decide on Zilingo's fate. According to sources aware of the matter, the Board did not conduct any voting today on any of the proposals, and the directors said that the Board will meet again after considering the management buyout offer and liquidation of the company.

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Image courtesy of "Bloomberg"

Zilingo's Board to Weigh Options Including Liquidation or Buyout (Bloomberg)

Zilingo Pte's board of directors is weighing options for the embattled Singapore startup after a financial adviser to the company said liquidation is the ...

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Image courtesy of "The Business of Fashion"

Zilingo Founders Make Surprise Buyout Offer for Start-Up (The Business of Fashion)

Co-founder Dhruv Kapoor on Sunday proposed a management buyout to the Singapore-based company's board.

Allegations of financial irregularities in March prompted an investigation into the company, valued at $970 million in 2019, and led to the dismissal of co-founder Ankiti Bose as chief executive officer in May. Her ouster plunged the once high-flying start-up into crisis and sent shockwaves through Singapore’s technology industry. He has secured commitments from a small group of new investors including a US private equity firm, the people said. Agenda-setting intelligence, analysis and advice for the global fashion community.

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Image courtesy of "AlgosOnline"

Zilingo founders to opt for buyout offer over voluntary liquidation (AlgosOnline)

Ankiti Bose and Dhruv Kapoor, Co-Founders of a Singapore-based B2B e-commerce startup, Zilingo, have reportedly agreed to make a management buyout offer ...

A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. It added that all the buyer should complete the confirmatory due diligence in seven calendar days once the buyout offer is accepted. Credible sources revealed that the new investor is expected to infuse USD 8 million in equity tranches. After the moratorium, repayments will be executed in four quarterly installments, with lenders to remain in priority. Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. He also has insisted on considering the buyout offer as a preferred option over voluntary liquidation.

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Image courtesy of "Vulcan Post"

Zilingo co-founder reportedly presents board with a buyout option ... (Vulcan Post)

Zilingo co-founder Dhruv Kapoor seeks a buyout although liquidation was advised to be its most viable option.

If the plan is approved, it would mean that co-founder and former Chief Executive Officer Ankiti Bose would return to the company. The plan involves incorporating Zilingo’s assets into a new entity, while an investor group will commit US$8 million in the new entity. Zilingo’s co-founder and Chief Technology Officer Dhruv Kapoor has made an offer to the company’s board of directors for a management buyout and restructuring.

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Image courtesy of "Techstory"

Zilingo Founders Make Buyout Offer as The Company is on The ... (Techstory)

Ankiti Bose and Dhruv Kapoor who started the company Zilingo together, have now decided to reunite to put forth a buy out offer for their company as Zilingo ...

He hopes that the board with agree with his offer and that this process can start so that Zilingo can continue their regular operations. She went on to say that she might have a lot of differentiating opinions and they might not see eye to eye. According to the offer, everything Zilingo has including assets, debts, subsidiaries and so on will all be bought out by the new company.

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Image courtesy of "Deccan Herald"

Zilingo co-founders make buyout offer to prevent liquidation: Report (Deccan Herald)

Co-founders of Zilingo, Dhruv Kapoor and Ankiti Bose, have proposed to take back control of the Singapore-based fashion ecommerce company to prevent its ...

The fundraising had valued the company at about $1 billion. No matter what our differences may be, at the end of the day, we started this company with the same goal. He owns 8.5 per cent stake in Zilingo.

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