Zilingo's co-founders make surprise buyout offer for startup: Report

The move comes as Zilingo's board is scheduled to meet on Monday to discuss the future of the company, according to people with knowledge of the matter

Zilingo 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.
 

Under the preliminary proposal, the investor group will inject $8 million in new equity in a newly incorporated entity in tranches, while the remaining assets