Ryan Breslow

Ryan Breslow: The Controversial Founder of Bolt and Love

Ryan Breslow, 28, is the controversial founder and former CEO of Bolt, a payment technology startup that reached decacorn status in 2022 with an $11 billion valuation. He is currently the executive chairman of Bolt and the founder and CEO of a new wellness startup called Love.

Bolt: Breslow's Rise and Fall

Breslow co-founded Bolt in 2014 after dropping out of Stanford. The company aimed to revolutionize e-commerce by enabling one-click payments between buyers and merchants. Despite facing difficulties in its early years, Bolt has raised nearly $1 billion in funding to date.13

In January 2022, Breslow stepped down as Bolt's CEO after raising $355 million at an $11 billion valuation. He sparked confusion and fueled conspiracy theories across Silicon Valley with his controversial tweets attacking competitors like Stripe and investors such as Y Combinator.12

Breslow's departure was followed by a tumultuous period for Bolt, including a lawsuit from one of its largest customers, layoffs, and struggles to raise funds at its target valuation.13

Love: Breslow's New Venture

In September 2022, Breslow announced that he was taking on the role of CEO and founder of a new health startup called Love.1 The early-stage wellness company has raised $7.5 million at a $180 million valuation, with plans to raise an additional $10 million at a $300 million-plus valuation.1

Love aims to act as a Kickstarter for clinical trials, crowdsourcing ideas and cash to run pharma-grade studies on the health effects of natural products. Breslow has stated that the company will explore the healing benefits of psychedelics.1

Controversies and Investigations

Breslow's tenure at Bolt has been marked by controversy and legal issues. In 2023, he was subpoenaed by the U.S. Securities and Exchange Commission (SEC) along with Bolt over alleged violations of federal securities laws in connection with statements made during fundraising in 2021.3

Additionally, Breslow was sued in 2023 by former board member Steve Sarracino of Activant Ventures over defaulting on a $30 million loan. The lawsuit alleges that Breslow removed Sarracino and two other board members when they declined to help him repay the loan.3

Despite the controversies, Breslow remains involved with Bolt as executive chairman and is now proposing a return as CEO, with a compensation package that includes a $2 million bonus, $1 million in back pay, and reimbursement for $750,000 in travel fees from his previous stint as CEO.4