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2023-07-12

Singapore

Transport minister Iswaran put on leave while assisting CPIB with investigations

Temasek CEO calls FTX blow-up "an aberration" in early stage investments - Are they going to say the same of Zilingo, lol?! Also, the issue with FTX is the government's hypocrisy in telling its citizens not to invest in crypto due to the risks involved, while it itself did exactly that!

Tickets for GetActive! Singapore Heartland Festivals available from 15 Jul

Childcare centres need not open on Saturdays from 2025 onwards

^ Last look at Toa Payoh night market before it closes next month - to make way for upcoming housing developments, yet again

Science

Supercomputer helping climate scientists decide whether to block the sun to cool the earth - this already sounds like a phenomenally bad & stupid idea

Transport

Activists in San Francisco disabling self-driving cars with traffic cones in protest against safety hazard cars purportedly pose

Business

Violet Oon’s bid to buy out business partner goes to trial after she rejects his $6m offer

Thomson Medical buys Vietnam’s largest private hospital for $517m

Politics

NATO welcomes Ukraine’s membership but stops short of invitation

Timor-Leste joins ASEAN meet for 1st time

Society

Former Manson follower Leslie Van Houten released from prison - let the killing start again!

5 More Online Shopping Websites for Southeast Asian Shoppers

Zilingo: Fashion and Lifestyle at Your Fingertips Zilingo is a popular online shopping website that focuses on fashion and lifestyle products. With a wide selection of trendy clothing, accessories, beauty products, and home goods, Zilingo offers Southeast Asian shoppers a platform to explore and discover unique items from both local and international brands. Alibaba’s Tmall Global: Access to…

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Check out this listing I just added to my Poshmark closet: ZILINGO Women's Satiny Dusty Rose Cami.

FINANCIAL FRAUDS - SEQUOIA CAPITAL

One of the top venture capital firms in India, Sequoia Capital, recently underwent an audit of all of its prior investments in South Asia, according to a recent piece in The Economic Times. Sequoia invested heavily in firms including BharatPe, Trell, Zilingo, and GoMechanic.in, all of which have recently been exposed for financial misdeeds.

According to persons familiar with the situation who spoke to Bloomberg, the venture capital company will collaborate with Ernst & Young on some of these audits and will raise budget allocations to assist investee companies in putting governance safeguards in place. The sources further stated that Sequoia Capital India would now exercise greater caution, particularly when appointing directors to their portfolio businesses.

Additionally, they are thinking about putting more senior partners on the boards in place of junior members of their team. GoMechanic co-founder Amit Bhasin also admitted to making mistakes in financial reporting in a LinkedIn article.

One thing that all investors should take away from this experience is the necessity of strict methods to regularly monitor the startup's growth trajectory in addition to exercising due diligence before investing as not all founders are eager to invest the money meant for the business' expansion. It is simple to lose direction, veer off course, and then spend without having a budget.

Reference - https://timesofindia.indiatimes.com/business/india-business/sequoia-considers-auditing-south-asia-investments-as-lapses-rise/articleshow/97266607.cms

Singapore’s Zilingo to Liquidate After Crisis at Fashion Start-Up

Zilingo Pte is set to enter liquidation, capping a months-long crisis that shocked Asia’s technology and start-up industries. The Singapore-based fashion-tech company’s board appointed EY Corporate Services Pte as provisional liquidator, people familiar with the matter said, asking not to be named as the matter is private. The board informed major shareholders and creditors of its decision, they…

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Ashneer Grover slams VC firm Sequioa over odeal of startup founder in Singapore

Ashneer Grover slams VC firm Sequioa over odeal of startup founder in Singapore

Former BharatPe co-founder and managing director Ashneer Grover on Friday hit out at top VC firm Sequoia Capital India, defending Singapore startup Zilingo’s former CEO, Ankiti Bose, who was sacked over financial irregularities earlier this year. In a series of tweets, Grover posted a short audio interaction between Ankiti and Grover, where she can be heard discussing a 220-page report on…

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સેલેબ્રિટી CEOની કામ કરવાની રીતના કારણે Zilingo બરબાદ થઇ

સેલેબ્રિટી CEOની કામ કરવાની રીતના કારણે Zilingo બરબાદ થઇ

પહેલી વખત જોતા લાગે છે કે, ફેશન સ્ટાર્ટઅપ ઝીલીંગો અચાનક ડગવા લાગી. પણ, આ સત્ય નથી. ઝીલીંગોની બરબાદીની વાર્તાની શરૂઆત આ વર્ષે માર્ચમાં જ થઇ ગઇ હતી. તો આવો જાણીએ કે મોટા મોટા દાવા કરતી ઝીલીંગો આખરે ધરાશાયી કઇ રીતે થઇ ગઇ. સિંગાપોરની ઝીલીંગોએ માર્ચમાં 30 વર્ષની પોતાની CEO અંકિતી બોઝને સસ્પેન્ડ કરી દીધી હતી. તેના પર નાણાંકીય ગોટાળાના આરોપ લાગ્યા હતા. થોડા સપ્તાહમાં સ્ટાર્ટઅપને લોન આપનારાઓએ પૈસા…

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How a celebrity CEO’s rule of fear helped bring down hot startup Zilingo - Times of India

How a celebrity CEO’s rule of fear helped bring down hot startup Zilingo – Times of India

NEW DELHI: At first glance, the implosion of vaunted fashion startup Zilingo Pte looked jarringly sudden. When the Singapore tech darling suspended its 30-year-old chief executive officer Ankiti Bose over complaints about alleged financial irregularities, it was March. Within weeks, creditors were recalling loans, more than 100 staff had left, and Bose found herself fired, though she denies any…

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How a celebrity CEO’s rule of fear helped bring down hot startup Zilingo

How a celebrity CEO’s rule of fear helped bring down hot startup Zilingo

NEW DELHI: At first glance, the implosion of vaunted fashion startup Zilingo Pte looked jarringly sudden. When the Singapore tech darling suspended its 30-year-old chief executive officer Ankiti Bose over complaints about alleged financial irregularities, it was March. Within weeks, creditors were recalling loans, more than 100 staff had left, and Bose found herself fired, though she denies any…

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2023-02-09

Singapore

MOF says GST hike & tax moves were needed to fund growing needs - they could’ve just docked them bloody useless MPs’ pay & that would’ve settled it... or stopped investing in $hit/fraudulent projects like Zilingo & FTX to name a few

Idiotic Mercedes driver refuses to move car to let garbage truck pass - the garbage collectors should’ve just dumped all the truck’s collected rubbish onto his car then gone home, since they couldn’t continue doing their job!

SIA crew members encounter random violence while in Melbourne - just another example of barbarism in the western world

Masks now optional on public transport - still needed in medical settings & care homes tho’

Food

Singaporeans continue to complain & balk at rising food stall prices - Stop supporting robbers! Cook your own food & let these eateries die off!!!

Internet

Now it’s MS Azure that has gone down - can we just STOP using Micro$hit products already?!

Sports

Singapore’s only Olympic-sized ice-skating rink to go - located in JCube mall which is scheduled to close down later this year

Singapore to host World Aquatics Championships in 2025 after Russia stripped of rights

Nature

^ Here is a sea slug that looks exactly like a stalk of sea grapes - gives whole new meaning to “you are what you eat”!!!

...Also, don’t confuse the sea grapes above with this other coastal tree also called “sea grape”

Transport

Singapore: One Punggol’s exorbitant parking fee incurs complaints - Don’t go there then! Businesses can’t survive if people refuse to support them!

Education

Singapore: ACS (Primary) to move to Tengah & take in girls from 2030

How A Hot Startup Was Destroyed By A 30-Year-Old Celebrity CEO's Rule Of Fear

The collapse of renowned fashion startup Zilingo Pte initially appeared startlingly abrupt. It was March when the popular Singaporean IT company fired its 30-year-old CEO Ankiti Bose over allegations of alleged financial irregularities. Within a few weeks, lenders were calling back loans, more than 100 employees had quit, and Bose found herself fired—despite the fact that she insists she did nothing wrong. The future of the business is now in doubt. The Zilingo collapse has shook the tech sector in Southeast Asia and elsewhere. The startup had secured more than $300 million from some of the most well-known investors in the area, including Temasek Holdings Pte and Sequoia Capital India, the local division of the Silicon Valley company that had backed Apple Inc. and Google. Bose was a famous speaker who travelled the world, from California to Hong Kong, to address tech conferences. According to interviews with more than 60 people, including current and former employees, business owners, investors, and friends of the major figures, Zilingo suffered under Bose's direction for many years. Employees who worked for Bose claim that her management approach alienated them and damaged the company. The business switched between different sales strategies, including a $1 million promotional trip to Morocco, client loans, and a brief foray into the US. Read the full article

How a celebrity CEO's rule of fear helped bring down hot st...

How a celebrity CEO’s rule of fear helped bring down hot st…

At first glance, the implosion of vaunted fashion startup Zilingo Pte looked jarringly sudden. When the Singapore tech darling suspended its 30-year-old chief executive officer Ankiti Bose over complaints about alleged financial irregularities, it was March. Within weeks, creditors were recalling loans, more than 100 staff had left, and Bose found herself fired, though she denies any wrongdoing.…

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Check out this listing I just added to my Poshmark closet: ZILINGO Women's Satiny Dusty Rose Cami.

Zilingo COO Aadi Vaidya quits in latest blow for Singapore startup

Zilingo COO Aadi Vaidya quits in latest blow for Singapore startup

Aadi Vaidya, who joined the company in 2015 and became the COO two years later, confirmed his resignation when contacted by Bloomberg News. Friday is his last day at the company, Vaidya said in his response. July 29, 2022 / 02:28 PM IST The logo of Zilingo Pte is displayed on a window at the company’s office in Singapore, on Monday, Feb.. 11, 2019. Zilingo said it raised $226 million from…

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Zilingo’s Ousted CEO Ankiti Bose Resigns From Startup’s Board

Zilingo’s Ousted CEO Ankiti Bose Resigns From Startup’s Board

(Bloomberg) — Zilingo Pte’s former Chief Executive Officer Ankiti Bose said she stepped down from her post as director due to lack of access to information. Most Read from Bloomberg Bose said the board failed to show her investigation reports on the company or her alleged misconduct, even though she was a director and large shareholder of Zilingo, according to a statement posted on her Instagram…

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