Startup slip-ups
PremiumAnkiti Bose has claimed this is a ‘witch hunt’ in response to her complaints of harassment. Given how sinister some lopsided power equations can get, this angle needs to be probed as well
The startup hall of fame is always abuzz, but so increasingly is the hall of infamy. Big flame-outs in popular perception include Theranos’ Elizabeth Holmes and BharatPe’s Ashneer Grover. Might Zilingo’s co-founder Ankiti Bose join the list? She was reportedly suspended as chief executive of this Singapore-based supplier of tech solutions (and of credit, too) to apparel merchants and small factories after fundraising talks with Goldman Sachs ended in allegations of financial discrepancies.
Charges of fudged accounts must be investigated by forensic auditors and findings revealed to all investors and stakeholders in Zilingo, not just the big ones that suspended Bose. Crucially, she deserves a fair hearing before anyone jumps to judgement. She has claimed this is a “witch hunt" in response to her complaints of harassment. Given how sinister some lopsided power equations can get, this angle needs to be probed as well. While the speed of her ouster may suggest image concerns getting the better of what’s just, Zilingo’s data filings do seem oddly sketchy. Sequoia Capital may be walking on eggshells, as this is the fourth firm in its investment portfolio to be hit by a scandal in recent times. But the truth must prevail.