Maju Kuruvilla, the former CEO of Bolt, is back in the startup world with a fresh e-commerce venture named Spangle AI. After leaving Bolt last year, Kuruvilla is now focused on solving a persistent problem many online shoppers face — what he describes as the “check-in” experience.
Kuruvilla’s vision for Spangle AI aims to eliminate the frustrating experience of clicking on ads that lead to product-less landing pages. According to him, this disconnect often causes potential buyers to abandon their carts, slashing conversion rates and reducing revenue for retailers.
Spangle AI is built on a proprietary AI model known as ProductGPT, designed to create custom landing pages that align with user interests based on their searches and clicks. By offering a smoother transition from ad clicks to product pages, Spangle AI hopes to enhance the way retailers monetize web traffic and improve the overall shopping experience.
The Seattle-based startup made a strong entrance last year by securing $6 million in seed funding from investors, including Madrona Ventures and Streamlined Ventures. Kuruvilla’s efforts with Spangle AI reflect his passion for e-commerce, which he describes as a drive to solve complex problems and improve online shopping.
A Growing Market of AI-Powered Solutions
Spangle AI is entering an increasingly competitive market filled with other AI-driven e-commerce solutions. Companies like Vancouver’s Unbounce, which raised nearly $40 million in 2020 for its no-code landing page platform, and Dubai’s Qeen.AI, which recently attracted $10 million for its smart shopping assistant, are already making strides in the sector.
Despite the fierce competition, Spangle AI has shown promising results during initial tests, reporting a 51% boost in conversion rates. Kuruvilla now plans to concentrate on expanding the company’s sales efforts, believing that the startup’s innovative approach will differentiate it in the crowded e-commerce landscape.
Kuruvilla’s exit from Bolt was not without its challenges. After leading the company for two years following nearly eight years at Amazon, his time at Bolt saw legal disputes involving the company’s co-founder Ryan Breslow. Breslow has since returned as CEO, resuming leadership amid ongoing legal issues.
Reflecting on his departure, Kuruvilla joked on social media that he had “one-click checked out” of the company. His enthusiasm for the new venture remains high as he continues to push for innovation in the e-commerce space, stating: “I just love e-commerce and I love solving hard problems.”
As Spangle AI ramps up operations, its future success will depend on its ability to carve out a unique niche in an already bustling market. But if its early results are anything to go by, Kuruvilla’s ambitious project could significantly shape the future of online shopping.
I am passionate about crafting stories, vibing to good music (and making some too), debating Nigeria’s political future like it’s the World Cup, and finding the perfect quiet spot to work and unwind.
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