Bolt’s Breslow Plots His Return

You really can’t beat tech industry founders (and a few venture capitalists) when it comes to setting new standards of chutzpah. The latest example? As my colleague Erin Woo scooped today, Bolt founder Ryan Breslow is proposing to return as CEO of the once-hot e-commerce startup. He claims to have the backing of an overseas investor who would put up a couple of hundred million dollars while existing shareholders would be effectively forced out of the company.

There's no guarantee investors will go along with it, however, as we detailed here. Still, the proposal itself represents a bizarre turn of events, even for a company that has had its share of twists and turns (for a recap of past history, see here, here, here and here). Some will recall that Breslow stepped down as CEO in January 2022 after referring to Stripe and Y Combinator as “mob bosses.” Since then the e-commerce sector has cooled down and Bolt’s tiny business has stalled. Oh, and Breslow engaged in some sharp-elbowed wheeling and dealing to retain control of his baby.