- Bolt’s founder proposes controversial return as CEO.
- Deal includes aggressive terms and high valuation.
- Investors face pressure to participate or risk being bought out cheaply.
The Prodigal Son Returns?
E-commerce startup Bolt is making waves in the tech world once again. Ryan Breslow, the company’s founder who left in 2022 due to investor conflicts, has proposed a bold plan to return as CEO.
The deal includes a $450 million Series F funding round that would value Bolt at over $14 billion, despite its modest $28 million annualized run-rate revenue.
Show Me the Money
Breslow’s terms are raising eyebrows across Silicon Valley. The 30-year-old entrepreneur is asking for a $2 million bonus upon return, $1 million in back pay, and a slew of other benefits.
These include options to sell shares, purchase Bolt subsidiaries for a nominal fee, and receive additional stock grants tied to company performance.
Investor Ultimatum
The proposal also includes an aggressive “pay-to-play” clause for existing investors. Those who don’t participate in the new funding round risk having their shares bought out for just one cent each.
This move, coupled with the deal’s tight deadline and unusual terms favoring Breslow’s other ventures, has left many in the tech community questioning the future of Bolt and its eccentric founder.
