Is it possible to start a $1 billion firm in just three years? Because more than half of us had never seen or heard so many Zeros before. You’ll be surprised to learn that while working on this $1 billion case study, I began to wonder what we were doing. We are also from the last three, five, ten, fifteen, twenty-five, fifty years, and some of us have been in business for two generations. And someone from the middle could be worth $3 billion. Yes, and what if I told you that a 27-year-old Indian woman founded a billion-dollar company?
I’m referring to Ankiti Bose, who graduated from St. Xavier’s College in Mumbai. She worked at Sequoia Capital after finishing her education, and one day while at work, she wanted to start her own business. She met Dhruv Kapoor from IIT Guwahati, with whom she founded her company. I’m referring to Zilingo. You might have never heard of it before. Yes, you haven’t heard the name because it is not active in India. Singapore is where the company’s headquarters are located. Its technical support is based in India. Its target market is Southeast Asia.
While there are large corporations in India, such as Amazon and Flipkart, South East Asia at the time lacked such a large corporation. Ankiti went to Chatuchak market in Bangkok, Thailand, one day. She noticed people selling their goods from little villages and the most remote locations, and she saw a huge opportunity there. These people lacked both technological and financial resources. They couldn’t even offer their products in an orderly manner, let alone reach out to the correct customers. That’s when she had an idea and decided to give a platform to all comparable producers in Southeast Asia so they could market their items.
The total revenue in March 2016 was $434,000 dollars. There was 1.8 million dollars in revenue on March 31, 2017. In March 2018, revenue climbed by 12%. And from April to January of 2019, it surged fourfold, valuing Zilingo at one billion dollars and earning the title of unicorn.
When and how did Zilingo get the money? Let’s look at the numbers: how much money does Zilingo make? You don’t have to pay registration or licencing costs for selling your product, Zilingo gives all sellers a free listing. But when an order is placed, Zilingo gets a commission of 10-20% of the sale price. That is, there is no tax on your entry, but we will deduct it from the sale of a product, and this method has shown to be incredibly beneficial. Because there is no pressure on a seller when they first join.