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Bolt CEO addresses startup’s performance in wake of lawsuit, says merchant numbers are up 192% YoY –

A week after making headlines, the one-click-checkout at the start of Bolt released a public response to questions about how it was going at the competition venue.

General Manager Maju Kuruvilla issued a blog post today acknowledging that the company has “become very popular in the media over the last few months.”

In case you missed it, last week the startup was in the news for a number of reasons hereincluding a lawsuit filed by a major customer and reports that it is seeing a decline in customer revenue and growth.

I reached out to all of the above, a spokesman told me that no one was ready for the interview because the company had “slowed down the implementation process,” but shared the link on the blog site. Sources close to the company’s internal affairs told TechCrunch that Bolt is in “custody process” as he is “in the process of filing an impeachment motion.”

On his blog, Kuruvilla revealed the following figures on the company’s performance, writing that Bolt: has a total of 13.8 million “shopping accounts,” which represents a 131% year-on-year increase and has 836 total active business accounts all in all. product lines, representing a 192% YoY increased.

The published figures appear to be a direct response to what the Info was reported last weekwhich was that the number of Bolt merchants he worked with “was circulating in the lower 300’s until 2020.”.

Kuruvilla – a former Amazon executive – took over as general manager in January following the resignation of founder Ryan Breslow. In a blog post, he also discussed the rumors that the company is struggling in part due to efforts coming from such as Amazon, Shopify and Stripe to implement a one-click check. In his words, he said these companies use “control… to treat people for their lifestyle.” He went on to claim that Bolt “focused on broad-based trade” meant “building measuring instruments.”

“We are focused on decentralization, because we know what they are not doing: the market season alone is over. Brands and merchants are getting their day, and we are empowering and building products that help transform shoppers, educate their customers, and take advantage of them.” Our growing network. “

Notably, Stripe was the sponsor of Bolt Fast, which recently jumped after raising $ 120 million.

Since its inception in 2014, Bolt has raised more than $ 1 billion in investments and is valued at $ 11 billion during the $ 355 million Series E in January. Investors include funds and accounts managed by BlackRock, Schonfeld, Invus Opportunities, CreditEase, HIG Growth, Activant Capital and Moore Strategic Ventures.

Bolt is no stranger to controversy. Its 27-year-old founder, Ryan Breslow, started the company after leaving Stanford. He resigned as chief executive in January, and is generally known for his harsh insults, such as this taxane tweets and the latest media coverage. In an interview with TechCrunch’s Connie Loizos the same month, he said the company signed about 10 major deals in the second half of last year, each larger than “each one Bolt signed for the company’s previous history.

In early April, Bolt announced plans to get crypto startup Wyre $ 1.5 billion, an amazing amount for any company, but especially one that is as controversial as this one.

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