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In 1996 bolt.com was started as a teen community.
In 2002 the badges created slowly started leaning towards company sponsored badges, which lead to bolt becoming more commercial and secretely sneaking ads into the users activities. Some notable ones are the Verizon Wireless, Gillette, and Sony badges. In 2004, bolt.com revamped its site during the summer and officially unvealled itself July 15, 2004.
Source: Wikipedia
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