Today we dove into the world of checkout. Everybody is familiar with check-out - it’s the last step in the purchase process when you’re buying something whether in person or online.
A less known fact is that purchase process drop-off is a $10 trillion problem for businesses worldwide. And checkout software is not nearly as easy of a problem as meets the eye.
This week I chatted with my friend Ryan Breslow - Founder & CEO of Bolt. Bolt has created a full Checkout Operating System to help merchants unify / shoppers go through checkout. In this episode, we unpacked a lot of the network effects that they will now be able to take advantage of.
Bolt has grown its valuation 18x in 18 months to $6B and with 10 million shoppers on their platform has hit escape velocity to reach the next level of growth.
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