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Zilingo Founders Make Surprise Buyout Offer for Startup

  • Co-founder Kapoor has commitments from investor group
  • Board set to meet Monday to discuss startup’s future
Employees work at the Zilingo office in Singapore.

Employees work at the Zilingo office in Singapore.

Photographer: Ore Huiying/Bloomberg
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Zilingo Pte co-founders made a last-ditch offer to buy the embattled fashion e-commerce platform as the board debates its future, according to people familiar with the matter.

Co-founder Dhruv Kapoor on Sunday proposed a management buyout to the Singapore-based company’s board, according to the people, who asked not to be named as the matter is private. He has secured commitments from a small group of new investors including a US private equity firm, the people said.