Bolt CEO Resigns Two Weeks After Securing $11 Billion Valuation

Ryan Breslow, a founder of Bolt Financial Inc., said he’s stepping down as chief executive officer, two weeks after securing an $11 billion valuation for the business.

Breslow, 27, will become executive chairman. Maju Kuruvilla, a 44-year-old Bolt executive and a former vice president at Amazon.com Inc., will be promoted to CEO. TechCrunch reported the move earlier Monday.

Bolt makes payment software for online shopping websites, including Forever 21. It has been around for seven years but experienced a surge of investor interest in the last few months. The company raised capital at a $6 billion valuation in ...