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Maju Kuruvilla is no longer CEO of one - clack checkout companyBolt . He is replace byJustin Grooms , Bolt ’s globose head of sales , who is now interim CEO , concord to Grooms ’ LinkedIn profile .
Kuruvilladidn’t have much to say about the change but did confirm it both onLinkedInandX , by posting , simply “ One - Click Checkedout from@bolt ! forward ” with a rocket emoji.(He declined to comment further . ) Arjun Sethi , a co - founder of the venture firmTribe Capital , comment on his mail on LinkedIn , noting that it was “ amazing shape with ” the executive .
The Bolt board vote to remove him this weekend , The Informationreported .
Kuruvilla , the former Amazon executive , took over as CEO inJanuary 2022 after father Ryan Breslow stepped down .
Grooms unite Bolt five years ago after serving in executive posture at troupe , includingUltraleap ( formerly Leap Motion),Datron World Communications and Qualcomm , his LinkedIn says . The company told The Information that the CEO role had changed and sound out that Kuruvilla ’s departure was “ amicable ” but provided no further details .
Bolt is no unknown to controversy . Its then-27 - year - old founder , Breslow , begin the fellowship after dropping out of Stanford and was generally known for his very outspoken rants .
Inan interview with TechCrunch ’s Connie Loizosin the month he stepped down , he read the company had signed roughly 10 major deals in the second one-half of 2021 , with each being bigger “ than any that Bolt has signed in the company ’s history previously . ”
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But then the fellowship face some struggles . Boltwas at one time the case of afederal probeinvolving Breslow regardingwhether the companionship violated any securities laws during fund-raise in 2021 . That is when Bolt was seek a$355 million Series E roundthat valued the fellowship at $ 11 billion . The companyraised around $ 1 billionin total venture - backed funding .
There were also several rounds of layoff , include one inMay 2022when it was report at least 185 employee , or one - third of its workforce , were lease go . Then another inearly 2023and onein December 2023that affected 29 % of its faculty .
In October , Kuruvilla , then CEO , told TechCrunch that the SEC was no longer face into Bolt and that itwas working toward profitabilityand had some newfangled features in the pipeline , like meliorate merchandise returns and provide personalized experiences around its universal shopper meshing . The party announced partnerships with retail merchant , including Saks OFF 5TH , Shinola , Filson , Lafayette 148 and Toys “ R ” Us , in November .
More late , Bolt signed adeal with Checkoutin which Bolt became Checkout.com ’s “ exclusive one - clack checkout counter provider ” and Checkout.com becoming “ Bolt ’s favourite requital married person . ”
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