Grifters keep on grifting, or the insane “comeback” of Bolt 🤯🤯; PayPal and Adyen join forces for the first time to change the game in payments 🤝💳
FinTech is Eating the World, 20 August
Hey Everyone,
Good morning! Today’s issue is the best one yet as we’re going to break down the insane “comeback” of once-FinTech giant Bolt (all the valuation shenanigans, crazy details & why they matter + a bonus recap on Bolt & some valuable lessons from one other once famous one-click checkout startup), and PayPal and Adyen that just joined forces for the first time ever in a bid to change the game in payments (what it’s all about & why it’s huge + bonus deep dives both into Adyen & PayPal and an extra one into Shopify). So let’s just jump straight into the thrilling stuff 🌶️
Grifters keep on grifting, or the insane “comeback” of Bolt 🤯🤯
The BIG news 🗞️ Bolt, the once-celebrated (mainly by VCs) one-click checkout startup, is making waves in the FinTech world again with a series of unexpected moves.
Founder Ryan Breslow is set to return as CEO, barely two years after stepping down amid controversy. Crazily enough, the company is also reportedly seeking to raise a whopping $450 million at a staggering $14 billion valuation, a figure that's raising everyone’s eyebrows given Bolt's recent almost defunct performance.
But that’s just the tip of the iceberg, and all the devilish things lie in the details.
Let’s take a quick look at Bolt’s insane comeback so you can see why it doesn’t make any sense.