How a celebrity CEO's rule of fear helped bring down hot startup Zilingo
Yoolim Lee, Olivia Poh, David Ramli and Faris Mokhtar for Bloomberg • • 19 min read
The zeal for governance may have come too late for Zilingo. Photo: Bloomberg
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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. The company’s survival is now in question.
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