In The News
The U.S. Securities and Exchange Commission (SEC) is said to be investigating whether Bolt, the ride-hailing and electric scooter company, violated federal securities laws during its fundraising efforts in 2021. The investigation is focused on the statements made by Bolt while raising money, and it is yet to be determined whether any violations occurred.
According to sources familiar with the matter, the SEC is examining whether Bolt made misleading statements or failed to disclose important information to investors during its fundraising rounds. The investigation is part of a broader crackdown by the SEC on potential securities law violations in the tech industry.
Bolt, formerly known as Taxify, is a transportation platform that operates in over 40 countries. The company offers ride-hailing services, electric scooters, and food delivery. It has raised significant amounts of capital from investors, including venture capital firms and strategic partners.
The SEC’s investigation into Bolt comes at a time when the agency is increasing its scrutiny of the tech industry. The SEC has been focusing on potential violations of securities laws by companies in the sector, particularly those involved in initial coin offerings (ICOs) and other forms of fundraising.
The investigation into Bolt’s fundraising activities is still in its early stages, and it is unclear whether any charges will be filed against the company or its executives. The SEC has the authority to impose fines and other penalties if it determines that securities laws were violated.
Bolt has not publicly commented on the investigation, and it is unknown how the company will respond to the SEC’s inquiries. The outcome of the investigation could have significant implications for Bolt’s future fundraising efforts and its overall reputation in the market.
Top things to Know
– The SEC is reportedly investigating whether Bolt violated federal securities laws during its fundraising efforts in 2021.
– The investigation is focused on the statements made by Bolt while raising money.
– The SEC is examining whether Bolt made misleading statements or failed to disclose important information to investors.
– The investigation is part of a broader crackdown by the SEC on potential securities law violations in the tech industry.
– Bolt is a transportation platform that operates in over 40 countries and offers ride-hailing services, electric scooters, and food delivery.
– The outcome of the investigation could have significant implications for Bolt’s future fundraising efforts and its overall reputation in the market.
Original article: https://techcrunch.com/2023/07/21/bolt-ex-ceo-ryan-breslow-subject-of-sec-probe/
