Ryan Breslow, a controversial co -founder of BOLT, who returned to CEO earlier this month, talked about $ 30 million in a company that caused legal battles on Monday and contributed to his (temporary) exposures.
Breslow also announced that BOLT will launch a “Everything App” to integrate one click checkout for everything from encryption to financial services.
The legal battle for loans began in 2023 when Bolt Investor Actionant sued Breslow. Activant claimed that Breslow borrowed the amount and buried startups with $ 30 million in debt.
BOLT agreed to re -purchase $ 37 million last year, and the incident was eventually resolved.
Yesterday, in Las Vegas’s FINTECH MEETUP, Breslow defended the loan and frame it with loyalty to BOLT rather than his own transactions claimed by the Active Litigation.
He said he made a loan instead of selling stocks in the second deal and that the loan was unanimously approved by the BOLT’s board of directors.
Breslow said, “This is made of pro bolts. “I took it out without selling a meaningful secondary. I wanted to show all the chips to all investors. I believe in stocks so much that I don’t sell stocks. ”
Breslow thought it was enough time to repay the loan and said BOLT was waiting for IPO. After leaving the role of the CEO, the board asked for a loan and said it was a “some attack.”
BOLT’s spokesman, Breslow, resigned as CEO in early 2022. During this year, between this year and his return, he also faced charges of misunderstanding investors and violating security laws while raising funds when he ran a company.
On Monday, Breslow admitted that he had made a lot of mistakes, but he said they were not blamed. He saw his main mistakes by allowing people to join the bolt’s cap table.
‘Super App’ in the work
He returned to the CEO and said BOLT will soon launch a new “Super App” that will integrate BOLT’s first click checkout e -commerce experience across various services.
“I will click on everything, such as financial services, peer -two, encryption, cards, and financial instruments instead of one click check out.”
Breslow compares BOLT’s $ 45 billion last year, and BOLT has 80 million “wallets” compared to Revolut’s 45 million, “BOLT has not made a profit for our consumers yet.”
In fact, BOLT’s Arr earned about $ 28 million as of the end of March 2024. In 2023, it is less than Revolut, which has released $ 2.2 billion in sales and $ 555 million.
The biggest problem with the bolt is the status of the next fundraiser. In August, the news delivered a $ 450 million fundraising contract. However, in the “Marketing Credit”, I questioned the abnormal use of $ 250 million, and the lack of investors was confirmed by mistake.
Forbes announced today that some of BOLT’s investors, including BLACKROCK and HEDOSOPHIA, sued to prevent the round, but forbes were voluntarily dismissed by all parties.
Breslow pointed out that during his speech, he pointed out that he had “completely resolved and disbanded” the legal case of himself during his speech, but did not provide an update for a $ 450 million fundraiser.
But he mentioned his experience as “humble,” and discovered a new resolution that he would run bolts after his faith and his startup.
“As you know, I definitely make a mistake, but I have a big chip on my shoulders,” he said. “I’m ready to take the bolt to a new height.”
Blackrock and HEDOSOPHIA did not respond to requests.
