Bolt Founder Ryan Breslow Seeks $27M Bridge Funding to Rescue Struggling Startup

Ryan Breslow, the controversial founder of checkout startup Bolt, is attempting to raise up to $27 million in pay-to-play bridge funding to keep the company afloat. Bolt was once valued at $11 billion, making the current fundraising effort a stark sign of the company's financial difficulties. Breslow is personally contributing $5 million of his own money as part of the deal. A pay-to-play structure typically requires existing investors to participate in the new funding round or risk having their shares diluted. The move signals a critical juncture for the embattled startup as it fights for survival.