In an internal memo to employees on Wednesday, Kapoor wrote: “You may have heard allegations have been made that some people in Zilingo have ‘suppressed’ complaints of harassment. We have always had a culture that does not tolerate sexual harassment, workplace harassment, bullying or intimidation … In rare cases, when workplace problems have been reported, we have always followed due process and adopted strict measures “.
suspended Bose on March 31st After alleged discrepancies were discovered in the company’s accounts during a due diligence process for a new funding round, ET reported on April 12.
Bose, with whom he worked Sequoia capital of India before launching Zilingo, he disputed these allegations and challenged his suspension. He called the company’s action a “witch hunt” and hinted that it was triggered by allegations of harassment he had raised against a company investor. His suspension is valid until May 5th.
Kapoor, who is also Zilingo’s chief technology and product officer, added in his note: “Unfortunately, in the last few days, there have been some things said in the media that don’t even reflect the type of company we have.” the kind of culture I have seen around me during my time here … We are troubled to see some people on the team acting against the interests of the company, sometimes in a way that damages Zilingo’s reputation or the reputation of various people in the ‘organization.
In a statement dated 2 May
Zilingo’s board said Bose made allegations of harassment only after it was suspended, adding that the decision to suspend it was made jointly by the board and did not reflect the decision of a particular investor.
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“After receiving some complaints of a serious nature, the council has posed [Bose] in suspension pending a full investigation. Contrary to claims that have been circulating in the media, this decision was made jointly by the board and the shareholders concerned … and does not reflect the decision of a single shareholder, ”the board statement read.
Zilingo’s troubles come at a time when some Sequoia-backed companies have been in the news over corporate governance and financial audit issues. These include the fintech company BharatPe and the social commerce platform Trell.
In April, Bloomberg reported this
Sequoia Capital India CEO Shailendra Singh had left the board of Zilingo.
“Over the years, as you know, numerous people – women and men – have joined Zilingo at a junior level and have grown with the company into leadership positions, and this makes me really proud and happy that we are. been able to create a positive culture of growth … Zilingo not only has an almost uniform sex ratio, but also has a number of women in leadership roles, ”Kapoor added in his note.
Zilingo raised $ 226 million in a funding round in 2019, led by existing investors Sequoia Capital, Singapore’s Temasek sovereign wealth fund, and others, after which it was valued at $ 970 million. It also raised a $ 35 million bridging round from existing shareholders in 2021.