The Bolt Saga Continues: Legal Threats, Investor Letters, and Cryptic Statements
- Bolt, once valued at $11 billion, is now embroiled in a financial and legal quagmire, struggling to stay relevant. - Interim CEO Justin Grooms sent a letter to preferred investors, claiming Silverbear Capital is committed to a $200 million investment. - Former CEO Ryan Breslow, known for his controversial tweets, is attempting a comeback amid the chaos. - Bolt's financials reveal massive losses: $200 million on $30 million revenue in 2022, and $310 million on $27 million revenue in 2023. - The company is pressuring Silverbear to fulfill its investment commitment, while doubts about the deal's legitimacy persist. Source: [newcomer]()
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