Your Tech Story

fashion ecommerce

Zilingo

Zilingo – Indian Entrepreneurs Create New Style Statement

Leave a Comment / Founder, Inspiration, Product, start-up, Story, Tech Story / By

We all love talking about fashion. Many of us have the urge to recreate their wardrobe every season. From a 5-years old little girl to a 60-years old man, we all want to look classic. A perfect fashion icon speaks through the language of style.

Brands can never define fashion. The idea behind fashion is creative and one can get inspiration from anywhere. It is a form of art that seeks ideas from a high-class designer dress to some really cool street style. Ankiti Bose and Dhruv Kapoor proved that in front of the entire world.

Who are they?

Ankiti Bose and Dhruv Kapoor are the founders of Zilingo, an online commerce platform for fashion. Though they are from different career background they hit it off pretty well.

Zilingo-Founders
Image Source – Google Images

Ankiti Bose

Before founding Zilingo, Ankiti Bose worked as an investment analyst Sequoia Capital. She worked at the Bangalore office. Bose studied Economics and Mathematics from St. Xavier’s College, Mumbai.

She is a fashion enthusiast. Her trip to Bangkok and witnessing their magnificent street fashion is what inspired her to create something of her own. She has also worked for McKinsey & Company.

Dhruv Kapoor

It is true that Engineers can be anywhere. One might get a B. Tech degree but for most of them, interest lies somewhere else. Dhruv Kapoor is an engineer who graduated from IIT, Guwahati. He studied Electrical and Electronic Engineering.

After graduating in 2012, Dhruv Kapoor joined Yahoo as a Software Engineer. After working there for a year, he joined Kiwi. Eventually, he met Bose, decided to quit the job and start a business.

The Back Story

None of them had the perfect plan to start a business. It happened all of a sudden. They trusted their guts and took the risk.

The story begins when Bose went on a Bangkok trip with her friends. It was back in 2014. She went shopping in a market called Chatuchak. According to her, it was the largest weekend market worldwide.

She witnessed more than 10,000 independent retailers with really inspiring designs. Unfortunately, none of them knew how to take their business online. This is when Bose thought of creating a platform where these powerful talents can be showcased and earned as well.

With the idea in her mind, she knew it would be better if she had a tech guy in her team. Because irrespective of the idea technology has a bigger role to play. After a few days, she met Kapoor at a party in her own flat. She shared her idea and Kapoor found it really interesting. They decided to take the next step.

The Beginning

They started with quitting their jobs. There wasn’t any second thought about their plan. Initially, they spend $30,000 each from their savings. Sequoia India backed Zilingo since Bose was a former employee. The company provided Zilingo the seed funding.

In 2015, Bose and Kapoor established Zilingo in Singapore.

What is Zilingo?

The company is a dream place for any potential designer who lacks a source. Zilingo is a fashion company that connects wholesalers, retailers and help them reach out to customers. It provides technical and financial support.

Within four years, the company has expanded to Hong Kong, Indonesia, Thailand, Philippines, Australia, India, and the U.S. Every company or the independent retailer who wishes to do sell their products go through strict scrutiny. Zilingo charges a commission of 10%-30% for all of them.

The Success

From the very beginning, Zilingo raised a good amount of funding. It raised around $8 million in Series A funding followed by $18 million in Series B funding. Zilingo’s Series C funding round took place in 2018 and it raised $54 million. The amount almost quadrupled in the Series D funding round.

Zilingo has become one of the highest capitalized start-ups in South East Asia. The company’s valuation became $970 million in February 2019.

Zilingo, today, has more than 600 employees working over eight nations. The company’s valuation is on the course to become $1 billion. Bose is the first Indian woman who co-founded a start-up of such valuation. She has become a role model for all young women entrepreneurs out there.

The company has created a sign of dignity for both its business strategy and technology. What can be a better combination than an economist and a software engineer? Zilingo’s team is full of creative, inspiring and passionate people.

zozotown

Yusaku Maezawa : Self-made Japanese Billionaire who Bought SpaceX’s First Ticket to Moon

Leave a Comment / Founder, start-up, Story, Tech Story / By

Though the 9 to 5 jobs are secure and have opportunities for growth, not many resemble the very idea. Despite that, there are only a few who take the step to make their lives different from that. It requires lots of courage to deal with what comes with the risk one takes to get an unusual but better life. One such person who never liked the idea of living the life of a salaryman is the Japanese entrepreneur and founder of Zozotown, Yusaku Maezawa.

Early Life

Yusaku Maezawa was born and brought up in Chiba City near Tokyo in Japan. While growing up, he got the opportunity to study at the Jitsugyo high school; a school affiliated from the prestigious Waseda University. Usually, it took him to reach the school around one and a half hour trough the train. While travelling on the train, Maezawa saw many salaried men around him, and he could never relate to them as well as the idea of 9 to 5 jobs. This was the time when he decided that he would never go for a salaried job but will do something more interesting and maybe something on his own.

While at school, Maezawa got introduced to a punk band named Switch Style, which later, he joined as a guitarist. Soon, he learnt to play other instruments as well and became the main drummer of the band. With the band, he got to travel to different cities and even countries. Once, when he went on a tour to New York with his band, he was quite amused by looking at how the new internet technology was developing there. Maezawa found out that the growth of the internet has also produced many opportunities for the people as well.

Starting Entrepreneurial Journey

Yusaku Maezawa
Image Source: observer.com

When back from the tour, Maezawa realised that even without knowing, he ultimately had caught into a salaried job. But he had no plans to continue. In 1998, to pursue his dream of starting his own business, he alongside his job in the band, started selling music CDs, under the company name Start Today. It was a mail-order business. Influenced by the rise of the internet, in 2000, he took his business online. Soon, Maezawa started stocking up clothes and fashion accessories on the platform. With the rise in demand and to focus entirely on his business, he quit his music career in 2001.

The company was rebranded as Zozotown, which in 2005, became solely a fashion eCommerce website, as Maezawa cut the Music CD selling business free the same year. Within two years, the company grew enough to go public in the Tokyo Mothers Market in 2007.

Interest in Art and Culture

Yusaku Maezawa, apart from being a former musician, has always been interested in art and culture and had dreamt of working in the same regard. So, in 2012, he founded Contemporary Art Foundation; a foundation that entirely focusses on art and promoting young artists through awards and grants. He also had the plans to establish an art museum in Chiba. So for his non-existing museum too, Maezawa was always looking for great art pieces that he now exhibits through his foundation every year.

In 2017, Zozotown integrated an online measurement system, named Zozosuit, and the same year, Zozotown became Zozo.

Maezawa has always had free-thinking and is known for his progressive management style. In fact, he started a 6-hour working day system in June 2012 to make his employees spend more time with their family. His company also offers extra housing allowance to the employees who live far from their homes to work in the company. He is also into charity works.

Accomplishments

In 2017 his estimated worth was 1.5 billion. According to 2018’s Forbe report, Maezawa is the 14th richest person in Japan with a net worth of $2.7 billion. His company has raised to over 2000 employees, and the online platform has got over 3 million registered users. Maezawa holds around 59% of shares in Zozo. Besides art and culture, he is also very interested in travelling, and 60% of his time, he is out of Japan, travelling.

Talking about travelling as his hobby, Maezawa is the first person who will be travelling to the moon with Elon Musk’s BFR rocket in 2023. He will also be inviting a few artists with him to travel. According to him, he has already made a down payment for the ticket for the moon mission to SpaceX.