Startup Lagos

25-Mar-2025

Fresh News

Former Bolt CEO Launches New E-Commerce Startup, Spangle AI 1 month ago

Maju Kuruvilla, the former CEO of the one-click checkout startup Bolt, is stepping back into the entrepreneurial arena with a new venture aimed at revolutionizing the online shopping experience. After parting ways with Bolt last year, Kuruvilla has founded Spangle AI, an e-commerce startup designed to tackle a common issue faced by online shoppers—what he refers to as "check-in."

The online shopping experience can often feel disjointed, particularly when clicking on advertisements that lead to websites not featuring the promoted product. This disconnect can result in a significant number of consumers abandoning their carts, negatively impacting conversion rates. Kuruvilla shared his observations with TechCrunch, emphasizing the need for a smoother transition from ad clicks to product pages.

To address this challenge, Spangle AI harnesses the power of artificial intelligence, creating tailored landing pages that match the specific interests of shoppers based on their searches and clicks. The startup targets major retailers, aiming to enhance their ability to monetize web traffic effectively. Spangle AI utilizes an innovative AI model known as ProductGPT, which analyzes customer interactions to optimize the shopping experience.

Based in Seattle, Spangle AI secured $6 million in seed funding last year, with notable investments from Madrona Ventures and Streamlined Ventures, based in Silicon Valley.

Spangle AI enters a competitive landscape filled with other e-commerce startups leveraging AI technologies to customize online experiences. For instance, Unbounce, based in Vancouver, B.C., raised nearly $40 million in 2020 for its no-code landing page solutions, while Dubai-based Qeen.AI recently raised $10 million for its smart shopping assistant technology.

Though early in its journey, Spangle AI reports promising results from initial product tests, claiming a 51% increase in conversion rates. With a focus now shifting towards sales efforts, the startup demonstrates significant potential for growth and impact in the e-commerce sector.

Kuruvilla, who led Bolt for two years and has a background of nearly eight years at Amazon, replaced Bolt's outspoken co-founder Ryan Breslow in 2022. His tenure at Bolt was marked by controversy, including legal disputes involving Breslow, who has since resumed his role as CEO amidst a host of legal challenges.

Reflecting on his departure from Bolt, Kuruvilla humorously noted on social media that he had "one-click checked out" of the company. He expressed his enthusiasm for embarking on this new venture, stating, "I just love e-commerce and I love solving hard problems," emphasizing his commitment to enhancing the online shopping experience through innovative solutions.

As Spangle AI prepares to make its mark, the startup's vision promises to reshape how consumers interact with e-commerce, potentially leading to more seamless and satisfying shopping experiences.

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