Bolt Acquires Crypto Startup Wyre for $1.5 Billion

Payments
Written By Rick Watson

Bolt was founded in 2014 by Ryan Breslow, and provides payment software for online shopping websites, counting Forever 21 among its clients.

Wyre, like Bolt, is based in San Francisco and helps retail and business clients exchange national currencies and cryptocurrencies between banks and crypto wallets, as well as trading cryptocurrencies.

Fast explodes and Bolt pivots. I was dim on Bolt's prospects anyway. That's a lot of cash for a crypto company at this stage, potentially going into a recession? Bolt may wish it had this money in another year if Wyre isn't kicking off cash (which I cannot imagine it is).

WSJ: Crypto Startup Wyre Being Acquired by Payments Company Bolt for $1.5 Billion

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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