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The Inspirational Story Zilingo



Ankiti Bose
Ankiti Bose (Picture credit: Wikimedia Commons) 

Welcome to Youth Motivator. I would like to  tell you an amazing story of Ankiti Bose, co-founder of a billion dollar company by name Zilingo.
Ankiti is the CEO and co-founder of Zilingo, a fashion and beauty market place.
This article is also the biography of Ankiti Bose.

Introduction-

Ankiti graduated in economics and mathematics from St. Xavier’s college in Mumbai. Initially, Ankiti jointed McKinsey and later she joined Sequoia capital, where her job was to analyse start-up companies as investment analyst, this job experience later immensely helped Ankiti to build a billion dollar start-up by name Zilingo.
During job, she resolved that she will start her own company.
Luckily she met Dhruv Kapoor, a software engineer who graduated from IIT- Guwahati who had same ambitions and skill set as Ankiti.

Ankiti along with 24 year old Dhruv Kapoor started a start-up by name Zilingo in the year 2015, when Ankiti was just 23.
Both of them invested their savings which amounted to 30,000 dollars by quitting their jobs. She initially started to work for 18 hours a day for her start-up.

Zilingo’s headquarter is located in Singapore and it receives tech support from Bangalore, India.
Zilingo operates mainly in South-East Asian countries apart from India, because in India, then there were major e-commerce players like Flipkart, Amazon, Snapdeal, etc. but in other South-East Asian countries, there was no competition from such E-commerce giants.

The trip which changed her life-

Ankiti got the idea of setting Zilingo when she visited Bangkok on a holiday trip along with her friends in Thailand’s Chatuchak market where she noticed that many merchants were from small remote villages, who did not have the opportunity to sell online because they lacked Technical Expertise and financial support.
This market had more than 8000 small merchants, Ankiti decided to help them by launching their products online by founding Zilingo, an online platform all across the South-East Asia so that these sellers can benefit, and their products can reach the right costumers all across the world.

Funding-

Zilingo was helped by some companies in the area of funding, some of them include- Sequoia capital, Burda Principal Investments, which raised around 308 million dollars for Zilingo.

The reasons for success of Zilingo-

Zilingo offers free listing of products by sellers; they do not need to pay any licensing fees or registration fees. Zilingo only charges between 10 to 20 per cent commission on sale rate that is, they charge commission only when the product is sold, not when the product is ordered.

Zilingo developed several technological tools, which facilitates her clients across various countries to connect seamlessly. The tools also play a pivotal role in inventory management, shipping to any part of their network by cross-border shipping.

Zilingo also provides financial assistance by name FinTech to its small manufacturers, who lack funds but possess great workmanship; Zilingo along with financial companies pays them advance payments on very low interest. As the fashion products are of high margin, Zilingo is able to provide FinTech to its clients.
This builds faith in their clients who later become Zilingo’s trusted partners.
This start-up also developed a huge network by establishing a separate company called Asia Mall by which its clients can purchase raw materials from any country at a very affordable price. Asia Mall works on Business to Business service model.
In addition to all these support, Zilingo also helps its small clients in documentation, training, keeping them informed about future fashion trends. Zilingo also empowers local communities by providing them with employment opportunities.

Win-Win Business Model-

This became a big win-win situation for both Zilingo and its clients, as this business model did not put any pressure on its clients, who are mostly small-scale merchants.

According to a report by Google, the online shopping will reach 100 billion mark by the year 2025.
Zilingo means Zillions; it also stands for the Gift of God.
She motivates young entrepreneurs all around the world by her astounding achievements.

Achievements and Recognitions-

Ankiti is in Forbes under 30 list for the year 2019.
Her company reached billion dollars in just 3 years, thanks to the rising adoption of smartphones and booming of middle-class population with rising per capita income.

Now Zilingo has more than 7 million users in almost 15 different regions of the globe which includes countries like Cambodia, Thailand, Vietnam, Philippines, and Indonesia. The company is also planning to enter Australia. The biggest market for Zilingo is Indonesia.
Zilingo employs around 500 employees in more than 8 countries. Ankiti is merging both offline and online channels for a ubiquitous experience. She says that the online business model is transforming the offline business model in such a way that customers are subjected to good experience.
Now, Ankiti has become a role model for young entrepreneurs, especially for female entrepreneurs all over the world.

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