If a company is based on its network effects, and is “worth” $11B, in an industry that you participate in, and you nor anyone you have ever met has seen it in the wild, it at least implies that something fishy is going on.
Have you even read the article? ABG as part of lawsuit want 5% of stake in business for 30M (valued at 500M currently). Obviously their customer who is suing them want a part of business says something.
Also article clearly mentions forever21 uses them.
My comment had nothing to do with ABG, or them wanting whatever is in their contract. It was commenting on that fact that I, not apparently the parent commenter, has ever actually seen the Bolt product in the wild. That’s weird for something apparently valued at 250x their ARR.
Regarding ABG’s claim to a 5% stake, you can’t comment on what that means without knowing the terms that apply.
I’m not sure 249 counts as “many, many”
ABG claims they have a warrant. Bolt says no. Not sure how any third party can say anything to the veracity of these claims without the contracts. On the facts, it's no more ridiculous than an early employee exercising far in-the-money options.
ABG is forever21, they're the one suing bolt.
It might just say that they want to be able to take that stake and liquidate it now quickly while the private markets still have a high value on it.
It's literally you drop it in to your website and it improves your checkout experience.
And I imagine they acquire customers by ringing them up and showing them improved conversion stats.
The article in qusetion literally includes the line:
> Because Bolt’s business relies on having a large network of consumers
It has literally never occurred to me to select/deselect an online store or purchase/not-purchase something based on who the payment processor is. I usually don't even know that until after the decision has already been made and I've hit the "proceed to checkout" button.
Who are these people who are like "well, I wanted (or didn't want) $THING but then I saw which of the many basically identical forms I'd be filling out to complete the purchase and changed my mind"?