Zilingo expected to reach $1 billion in coming months
today May 23, 2019
The fashion e-commerce retailer Zilingo is expected to reach a valuation of $1 billion (Rs 6,652.8 crore) in the next few months as its revenue has grown by over four times in the last year.
Zilingo’s founder Ankiti Bose reported to CNBC that her online fashion business is set to cross the $1 billion valuation soon. The business was last valued at $970 million in February 2019 following its most recent funding round. Bose did not disclose the company’s financials but stated that business had grown four times over the past year.
Should Zilingo cross the $1 billion mark, it will make Bose the first Indian woman to have created a start-up that reaches a valuation of over $1 billion, a so-called “unicorn”. The Singapore-headquartered company has so far raised $308 million in funding from a group of investors which include Singapore’s Economic Development Board Investments and the sovereign fund Temasek.
Bose launched Zilingo four years ago and it now boasts an active user base of seven million. The e-commerce store retails from around 27,000 merchants in 15 regions and has a team of over 500 employees based in eight different locations.
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