News Summary

Ryan Breslow has been reinstated as the CEO of Bolt, the fintech company known for its one-click checkout technology. The decision was made with unanimous approval from the board. Breslow, who originally stepped down in early 2022, has faced controversies including allegations of misleading investors and violating security laws by inflating metrics. He was also involved in a legal dispute with investor Activant Capital over a $30 million loan, which was settled when Bolt repurchased Activant’s shares. Bolt, valued previously at $11 billion, attempted to raise $200 million in equity and $250 million in marketing credits at a $14 billion valuation, but the deal stalled. The company’s annualized run rate was $28 million in revenue with $7 million in gross profit as of March 2024.