Ex- CEO Of Bolt, Ryan Breslow- Back With New Startup Love
- ByStartupStory | September 26, 2022
Ryan Breslow, the founder and executive chairman of payment company, Bolt is back with a new startup called “Love”. We will be seeing him in the role of CEO and founder of the health startup. Previously in january 2022, he stepped down as Bolt’s CEO after eight years—and that too only few days after raising $355 million from top investors at an $11 billion valuation.
Breslow said that starting Love doesn’t mean he’s giving up Bolt. In January, Breslow gave the title of Bolt CEO to Maju Kuruvilla, so he could solely focus on landing big retailer partners and top tech talent. Bolt has been through some tough times since then. In May, Bolt, which had earlier stirred controversy by offering loans to workers to buy Bolt stock options, laid off around 200 employees.
Love is still in development stages, but in the month of August itself- it raised $7.5 million at a $180 million valuation from MaC Venture Capital and Human Capital- which is quite spectacular on its own. Love essentially is a wellness company which will act as a starting platform for clinical trials, crowdsourcing ideas and cash to run pharma-grade studies on the health effects of natural products. Despite having the sufficient resources , Breslow himself hasn’t invested his money in the startup. “I find value in having great external capital fund the startup,”- said Breslow; “It adds legitimacy and more eyes and arms and legs to the business.”
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