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Bolt Builds $11 Billion Business With Inflated Metrics and Enthusiasm


Still, Mr. Breslow became something of a legend in the Vale for his fundraising prowess and outspoken demeanor. Last summer, he published a 58-page book on fundraising. on Amazon as a “basic playbook” for beginners. “Foundation is all a matter of momentum,” he wrote.

Jack Burlinson, an entrepreneur who has attended Stanford, said Mr. Breslow advised him on fundraising and introduced him to investors. “The fact that I was somehow tangentially related to him made it easy to raise money,” Mr. Burlinson said.

Bolt’s first investor, Mr Traina, has returned to Florida, where Mr Breslow “hacked himself” during the pandemic. Breslow, who Forbes reports playing buffalo skin drums before bed, was frequently photographed in yoga poses and told the magazine he didn’t want anything to do with the “elite circle” of billionaires.

Shortly after Bolt closed his funding round in January, Mr. Breslow took to Twitter, accusing Stripe, Y Combinator and top investors of conspiracy to keep entrepreneurs like him out of fundraising. He said venture capitalists would express their enthusiasm for the “game-changing” product, but would then back out “mysterically”.

Breslow then decided to step down as CEO of Bolt, but remains chairman of the board. Former COO Maju Kuruvilla is now CEO. Ms. Neve said Mr. Breslow started a new company in Miami to allow people to fund clinical trials.

Some Bolt customers are still trying to understand the company’s unique offering.

Chip Overstreet, CEO of Spiceology, Spokane, Wash. started using Bolt last year to process payments at its spice company. Mr. Overstreet said he was pleased with the service but was surprised at his inability to process orders with gifts. Bolt said he plans to roll out the feature by June.

“They don’t seem very innovative,” said Mr. Overstreet.



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