2023-01-25 08:45:25

CNA Explains: The rise and fall of Temasek-backed fashion start-up Zilingo

Logo Channel NewsAsia
Channel NewsAsia
By Vanessa Lim

Best News Website or Mobile Service

WAN-IFRA Digital Media Awards Worldwide

Best News Website or Mobile Service

Digital Media Awards Worldwide

SINGAPORE: It was once hailed as the darling of Southeast Asias tech scene and even came close to becoming a unicorn four years ago but now, the days are numbered for beleaguered fashion start-up Zilingo.

On Monday (Jan 23), the Economic Times reported that the Singapore-based company had sold its tech assets to Swiss e-commerce management software provider Buyogo AG, along with its Sri Lanka-based acquired entity nCinga Innovations.

The sale was reportedly completed in the first week of January, marking the beginning of the liquidation process at the Singapore-based startup.

The process will put an end to Zilingo's months-long struggle for survival, which has sent shockwaves through the tech industry in Southeast Asia and India.

Heres what we know about Zilingo.

FROM NEAR-UNICORN TO FAILURE

The company was founded in 2015 by Ms Ankiti Bose and her business partner Dhruv Kapoor, helping to aggregate small fashion retailers in Singapore, Bangkok and Jakarta onto a single platform.

Continue read on channelnewsasia.com

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-22 13:20:00
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide...

Logo PR Newswire
MIAMI, Jan. 24, 2023 /PRNewswire/ -- Introducing this year's breakout brand, ZIMRothschild (ZIM); giving a home to the purpose-driven, passionate "Unicorns"...

Logo PR Newswire
TechnologyPress Release2023-01-24 15:00:00
MINNEAPOLIS, Jan. 24, 2023 /PRNewswire/ -- Genuine Marketing Group Inc. (OTC: GMGZ) announces the commencement of its 15-million-dollar capital raise and the...

Logo Bloomberg
TechnologyBy Yoolim Lee2023-01-20 10:35:03
Zilingo Pte is set to enter liquidation, capping a months-long crisis that shocked Asia’s technology and startup industries. The Singapore-based fashion-tech...

Logo South China Morning Post
Business / FinanceBy Ben Jiang2023-01-25 04:00:12
Douyin, the Chinese version of TikTok, has been making aggressive moves in food delivery and other segments of on-demand e-commerce in the country This...

Logo Inquirer.net
Business / FinanceBy Philippine Daily Inquirer2023-01-24 18:08:55
Its been over a month since PLDT Inc., led by Manuel V. Pangilinan, revealed a P48-billion spending overrun that only came to light after four years. The...

Logo PR Newswire
BENSALEM, Pa., Jan. 24, 2023 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the...

Logo Nasdaq
Business / FinanceBy The Motley Fool2023-01-24 15:15:00
In this video, I will be talking about Twilio (NYSE: TWLO), specifically new analyst price targets and expectations for 2023, as well as what investors...

Logo PR Newswire
TechnologyPress Release2023-01-24 15:00:00
Newly Appointed Executive to Guide Linqto's Marketing Success and Scaled User Growth SAN FRANCISCO, Jan. 24, 2023 /PRNewswire/ -- Linqto, a leading global...

Logo PR Newswire
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION, DISSEMINATION, DIRECTLY OR INDIRECTLY IN OR INTO THE...

Logo GlobeNewswire
TravelPress Release2023-01-24 22:00:00
LOS ANGELES, CA, Jan. 24, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- WPF Holdings, Inc. (OTC PINK: WPFHD) announces today that it has acquired online and...

Logo Benzinga
Business / FinanceBy Business Wire2023-01-24 10:00:00
Harnessing the power of wearable technology, individual biomarker data, and AI, Elo's Smart Protein takes personalized protein powder to a new level of...

Logo PR Newswire
Debuting at KBIS, the brand's first collection of knives, monument beverage coolers and monument wine coolers offer home chefs a way to infuse their kitchens...

Logo PR Newswire
TechnologyPress Release2023-01-24 14:00:00
Aner brings years of security market penetration expertise from Snyk and joins Jit to continue the accelerated growth of the DevSecOps platform TEL AVIV,...

Logo NewsFileCorp
Press Release2023-01-24 22:05:00
Vancouver, British Columbia--(Newsfile Corp. - January 24, 2023) - Millennial Potash Corp. (TSXV: MLP) ("MLP" or the "Company") (formerly Black Mountain Gold...

Logo GlobeNewswire
NEW YORK, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Balincan USA Inc. (Balincan or the Company) announces that Tekumo, a wholly owned subsidiary of Balincan USA, is...

Logo PR Newswire
TechnologyPress Release2023-01-24 14:00:00
EZO expands its family of EAM software offerings and unveils innovative equipment maintenance solution, EZO CMMS CARSON CITY, Nev., Jan. 24, 2023...

Logo Benzinga
Business / FinanceBy Business Wire2023-01-24 15:23:00
Future of business resolved Plan to invest in the growth of the business German businessman and tech entrepreneur Hakan Ko and former telecoms executive and...

Logo Channel NewsAsia
Business / FinanceBy Cna2023-01-25 06:22:36
Best News Website or Mobile Service WAN-IFRA Digital Media Awards Worldwide Best News Website or Mobile Service Digital Media Awards Worldwide VELDHOVEN,...

Logo Nasdaq
Business / FinanceBy Bnk Invest2023-01-24 19:04:16
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock,...