For some much-needed additional information on the deal, we spoke with Ashesh Shah, the founder and CEO of the fund spearheading Bolt’s proposed $450 million raise. Check out the interview in its entirety here.
An expert familiar with Bolt’s corporate charter tells TechCrunch that the company’s aggressive ultimatum to its current shareholders—which demanded that they purchase a significant number of additional shares at higher prices, or it would reclaim their shares for payment of one cent each—will be a costly uphill battle.
In summary, many people paid attention on Tuesday when it was revealed that the one-click checkout startup Bolt was looking to raise $450 million at a possible valuation of $14 billion.
We are finalising a $450+ million Series F funding round from UAE- and UK-based investment firms, which will elevate our total valuation to over $14 billion, a considerable leap from our $11 billion valuation during the Series E1 round in 2022,” Bolt’s interim CEO Justin Grooms reportedly wrote in an email presenting the proposed deal to preferred shareholders. Apart from the capital contributed by these investment firms, Bolt could also get extra funds from current Bolt investors who participate in the Series F funding round.
Also Read:
Certain Unconscious Hospital Patients’ Brain Scans Reveal Discernible Activity
Mpox Outbreak Brought on by a Lack of Vaccine
