Maju Kuruvilla, who previously held the position of CEO at the controversial one-click checkout startup Bolt, has made a notable return to the entrepreneurial scene. After stepping down from his role at Bolt last year, Maju Kuruvilla is now embarking on a new venture that aims to tackle a different challenge faced by online shoppers, which he refers to as “check-in.”
The current online shopping experience can often be cumbersome, particularly after a consumer clicks on an advertisement for a product, such as a T-shirt. Frequently, the website that the shopper is directed to may not even feature the item they initially clicked on. This disconnect can lead to frustration and cause many potential buyers to abandon their shopping journey, ultimately negatively impacting conversion rates. Kuruvilla underscored this challenge during a discussion, stressing the importance of creating a smoother transition from advertisement to purchase.
To address this problem, Kuruvilla has founded Spangle AI, a startup that leverages artificial intelligence to create tailored landing pages for consumers based on their search queries or clicked advertisements. The platform is designed to assist major retailers in optimizing their traffic monetization efforts. Central to Spangle AI’s functionality is an AI model named ProductGPT, which analyzes and interprets customer interactions to enhance the shopping experience.
Located in Seattle, Spangle AI successfully secured a $6 million seed funding round last year. The investment came from notable backers, including Madrona Ventures, based in Seattle, and Streamlined Ventures, located in Silicon Valley. Spangle AI enters a competitive landscape filled with other e-commerce startups that utilize AI technology to personalize online shopping experiences and boost conversion rates. For instance, Unbounce, a Vancouver-based company specializing in no-code landing pages, raised nearly $40 million in 2020.
Additionally, Qeen.AI, a Dubai-based startup focused on smart shopping assistants, recently raised $10 million earlier this month. While it is still early in Spangle AI’s development, the startup has reported encouraging results from its product, with early testing indicating a remarkable 51% increase in conversion rates. With these promising case studies in hand, Spangle AI is now shifting its primary focus toward expanding its sales efforts.
Kuruvilla’s background includes a two-year tenure as CEO of Bolt, as well as nearly eight years at Amazon. He took over the CEO role at Bolt in 2022, succeeding the company’s outspoken co-founder, Ryan Breslow, following a controversial Twitter outburst by Breslow against Y Combinator. Despite Kuruvilla’s leadership, Breslow’s saga continued, culminating in a lawsuit from Bolt investors regarding a $30 million personal loan he had taken from the company.
Breslow has since returned as CEO, defending the loan as a demonstration of confidence in Bolt and announcing that the company’s legal challenges have been resolved. Reflecting on his journey, Kuruvilla humorously noted on X that he had “one-click checked out” from Bolt when he departed last year. Now, he is looking forward to the future, expressing his passion for e-commerce and his enthusiasm for tackling complex problems in the industry.
