The Zilingo saga continues

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Hello reader,

Are you a fan of long-running TV series or movie franchises?

Personally, I feel like most stories go on for way too long. Every tale has its sell-by date, and forcing it to extend beyond that point is delaying the inevitability of its demise. Just look at the Indiana Jones and Terminator franchises – they should’ve stopped at the second and third movies, respectively.

But real-life sagas can sometimes be pretty compelling. Today’s premium article looks at the latest developments in the ongoing Zilingo drama.

Today we look at:

• The latest in the Zilingo saga
• MyTukar’s new colors
• Other newsy highlights such as a crackdown on digital collectibles in China and Douyin outlasting a competitor app

Premium summary

What do you think comes next in the Zilingo saga?

Image credit: Timmy Loen

How much would you fight to hold onto something you loved? In the case of Zilingo co-founder Ankiti Bose, the answer appears to be “a whole damn lot.” She has now resigned from her directorship positions in Zilingo’s holding company and its subsidiaries over a month after she was fired as the fashion commerce firm’s CEO.

• Did not: Bose claimed that Zilingo’s board of directors had failed to show any reports issued by Kroll or Deloitte, which were investigating her alleged misconduct, that would justify her termination as CEO. She said that “other material information” related to the company had also been “concealed” from her even though she had remained a board director and shareholder in the company.

• Did too: In a statement, Zilingo said that it has accepted Bose’s resignation from her directorship positions but is “saddened to note that inaccurate claims have been made in the media of concealing relevant information from Zilingo’s directors.”

• Bose and Kapoor’s plan: Bose’s resignation comes more than a week after co-founder Dhruv Kapoor filed a management buyout proposal to the Zilingo board. Bose had replied to Kapoor’s email, saying she “endorsed” the plan, and if the proposal did go through, Bose would likely return to the company, according to a source, who wished to remain anonymous.

Read more: Zilingo’s Ankiti Bose resigns from the company’s directorships (updated)

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