The One Click Race
Oct 30, 2021 | Business
Friends, there’s a lot of noise about Bolt in the headlines.
What’s it about?
The One Click Race.
It is here, and it’s really starting to heat up.
Let me explain.
When someone checks out via our platform Bolt, they can opt in to create an account. From then on, they’ll be able to access secure, fast one-click checkouts. With enough opt-ins, we’ll have a critical mass of shoppers, and we’ll be able to end guest checkout for good, and create a universal checkout system.
We have a narrow but real window of opportunity to power checkout globally. Bolt is currently in the lead, but victory is not guaranteed. A lot is at stake here: $10 trillion in abandoned checkouts, the decentralization of Amazon, the Internet’s first identity network.
This is the same story we’ve been telling for the last seven years. In 2014, I was scraping the barrel for $10k investments. Today, it’s no longer just a vision; it’s reality: The largest merchants on the planet are turning to Bolt. In just the last few months, we’ve:
- Just about doubled the size of our Shopper Network.
- Signed default-on deals with three of the largest shopping carts.
- Received clear intent from three other major shopping carts to do the same.
- Signed a major consumer app to power checkout with 300 million MAUs.
- Launched our next continent, Europe.
- Launched Solo Stove, Signature Hardware, Build.com, Lucky Brand, Delsey, Aetrex, and Rossignol.
Last year, we had to educate merchants we were selling to on what one-click checkout was. Today, that’s completely shifted. Merchants know that one click is a must-have, and our sales team has full pipelines, all while tripling in size.This is a land-grab if you’re structured for it, and fortunately, I think we are. Our investors agree.
In our latest round, we welcomed Untitled, Neeraj Chandra’s fund. Chandra has been investing in ecommerce and fintech for 15 years. He believes that “Bolt has the opportunity to be one of the most impactful e-commerce solutions in the world. It’s leveling the playing field… Bolt stands out by focusing on checkout, whereas a lot of companies lump it into a big suite of offerings. Larger providers built the whole banana and checkout is just one piece, but by trying to do everything, everything was a seven out of ten, not ten out of ten.”
We also welcomed SAP as an investor. For those of you who don’t know, SAP Commerce powers $750 billion in GMV — that’s more than Shopify. They recognize that Bolt is the future of checkout and a critical piece of the commerce stack. We also welcomed Affirm as an investor, another company that’s pushing the envelope on shopping experiences.
So, what comes next?
- Global expansion
- Expanding sales, partnerships, and GTM teams
- Expanding tech and product teams
- Strategic acquisitions
I’m really excited to take you all on this journey.