b0arding.com

b0arding.com

Early Stage

Video Trip Advisor

Video Trip Advisor

Overview

Raised this Round: Raised: $64,207

Total Commitments ($USD)

Platform

StartEngine

Start Date

06/18/2024

Close Date

09/16/2024

Min. Goal
$15,000
Max. Goal
$1,235,000
Min. Investment

$250

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Pre-Money Valuation

$9,515,686

Year Founded

2020

Industry

Travel and Hospitality

Tech Sector

EnterpriseTech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Location

Mill Valley, California

Business Type

High Growth

b0arding.com, with a valuation of $9.52 million, is raising funds on StartEngine. It is a travel booking platform that helps people make more informed travel decisions and have a better experience. b0arding.com has collaborated with Google and Booking.com to modernize travel booking and create an immersive booking experience for the younger generation. The platform added 2 million hotels and 3 million rooms to its database in 2023 and reached $1 million in revenue. Victor Nikonets founded b0arding.com in March 2020. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.24 million. The campaign proceeds will be used for research and development, inventory, company employment, and working capital.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$980,488

$192,601

COGS

$887,799

$187,431

Tax

$0

$0

 

 

Net Income

$-13,953

$-23,988

Summary Balance Sheet

FY 2023 FY 2022

Cash

$3,758

$1,308

Accounts Receivable

$0

$0

Total Assets

$51,810

$52,920

Short-Term Debt

$0

$0

Long-Term Debt

$128,520

$115,672

Total Liabilities

$128,520

$115,672

Financials as of: 06/18/2024
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Synopsis

b0arding.com is a travel booking platform designed to help users make informed travel decisions and improve their overall travel experience. The company has collaborated with major industry players like Google and Booking.com to enhance its platform. The primary customers of b0arding.com are younger travelers, particularly Generation Z, who seek an immersive and transparent booking experience.

The problem b0arding.com addresses is the often overwhelming and impersonal nature of online travel booking. Travelers are frequently faced with an abundance of options and conflicting reviews, making it challenging to make well-informed decisions. Additionally, the lack of engaging and authentic content can detract from the overall booking experience.

To solve this problem, b0arding.com offers a travel booking platform that integrates video reviews to provide a more immersive and authentic experience. By incorporating video content, users can gain a better sense of the accommodations and destinations they are considering. The platform has expanded its database significantly, adding 2 million hotels and 3 million rooms in 2023, and reached $1 million in revenue. This approach aims to simplify the decision-making process and enhance the overall travel experience for users.

Imagine planning a vacation and being able to watch a video tour of your potential hotel room or see a walkthrough of the surrounding area. This visual content can provide a clearer picture of what to expect, reducing the uncertainty that often accompanies travel planning. For instance, instead of relying solely on written reviews, which can be subjective and inconsistent, travelers can view videos that offer a more comprehensive and engaging perspective. This can be particularly valuable for younger travelers who are accustomed to consuming video content and prefer more interactive and dynamic ways of gathering information.

b0arding.com's solution aligns with the growing trend towards personalized and authentic travel experiences. By leveraging video content, the platform addresses common pain points in the travel booking process and caters to the preferences of its primary customer base. The company's collaboration with established industry players further enhances its credibility and reach, positioning it as a relevant player in the competitive online travel booking market.

Next Section: Price

Price

b0arding.com is raising funds through a Common Equity offering, with a pre-money valuation of $9.52 million and a price per share set at $1.00. This round of funding will see 11.49% of the company being sold to new investors.

The primary advantage of investing in Common Equity is the straightforward nature of the investment, providing investors with direct ownership in the company. However, it is important to note that Common Equity holders are typically last in line during any liquidation event, which may pose a risk if the company faces financial difficulties. On the other hand, Preferred Equity often comes with additional rights and preferences, such as priority in liquidation and dividend payments, which can offer more protection to investors but may not be available in this round.

Looking at the revenue multiple, b0arding.com's current valuation implies a multiple of approximately 9.7x based on its $980k annual revenue. This multiple is on the lower side compared to some equity crowdfunding standards, reflecting the company's growth potential and the value placed on its innovative approach to travel booking. However, the company's low gross margin signifies that it may be difficult for it to reach a profit. 

Exit potential for startups in the travel and hospitality industry can vary widely. Successful exits often come through acquisitions by larger travel companies or technology firms looking to expand their service offerings. Given b0arding.com's partnerships with industry giants like Google and Booking.com, there is a plausible path to such an exit scenario. Additionally, an initial public offering (IPO) could be a potential exit strategy if the company continues to scale and capture market share.

Next Section: Market

Market

The US online travel booking service market is valued at approximately $154.5 billion, with a projected growth rate of 8.4%. This substantial market size and moderate growth rate present significant opportunities for companies like b0arding.com that are aiming to capture a share of this expanding industry.

Several key market drivers and trends are influencing this market. A notable driver is the high spending on travel by Generation Z and Millennials, who are increasingly prioritizing travel experiences. For instance, brands targeting younger travelers, such as Generator and Freehand, have reported revenue increases as high as 15% year-over-year. This demographic also demonstrates a preference for direct online booking channels, leveraging Online Travel Agencies (OTAs) for their travel planning needs. Additionally, there is a growing tendency towards last-minute bookings and flexible travel planning, which b0arding.com's platform can cater to effectively.

The prevalence of mobile device usage for travel bookings is another critical trend. Approximately 55% of Generation Z individuals used smartphones for their most recent travel bookings, compared to 44% of Generation X and 28% of Baby Boomers. This shift towards mobile booking aligns well with b0arding.com's platform, which aims to provide a seamless and engaging user experience, particularly through video content.

Social media's influence on travel decisions cannot be overstated. Platforms like Instagram and TikTok have become essential tools for travel inspiration, driving the demand for authentic and visually appealing content. b0arding.com's use of video reviews addresses this trend, providing a more engaging and informative booking experience that resonates with younger, tech-savvy travelers.

Despite these positive drivers, the market also presents challenges. The unpredictability of external factors such as economic fluctuations, geopolitical events, and public health crises can significantly impact travel demand. Additionally, the competitive landscape, dominated by established players like Booking.com, Expedia, and Airbnb, requires b0arding.com to continually innovate and differentiate its offerings to maintain and grow its market share.

b0arding.com's product primarily targets a niche within the broader market – younger travelers who prefer an immersive and authentic booking experience. While this focus allows the company to cater specifically to the preferences of Generation Z and Millennials, it may limit its appeal to older demographics who may not prioritize or engage with video content as heavily. However, the growing influence and spending power of the younger generation make this niche a valuable segment to target.

Next Section: Team

Team

b0arding.com's leadership team comprises individuals with diverse backgrounds and skills, which are crucial for driving the company's growth and achieving its objectives. The key team members include Victor Nikonets, Alex Iurev, and Emily Wilson.

Victor Nikonets serves as the CEO of b0arding.com. With 20 years of experience in the travel industry, Victor has founded and sold several businesses, demonstrating his entrepreneurial acumen. His extensive experience in the travel sector is vital for establishing b0arding.com's vision and strategic direction. Victor's ability to navigate the complexities of the travel industry and his proven track record of building successful businesses are significant assets for the company.

Alex Iurev, the CTO, brings 20 years of experience in IT management, development, operations, and information security. Alex has specialized in High-Load Development for the travel industry for seven years and spent five years as the Deputy Chief of IT Security at KBC Group. His technical expertise and experience in handling high-load systems are critical for ensuring the scalability and security of b0arding.com's platform. Alex's background in IT security also helps safeguard user data, which is essential for maintaining customer trust.

Emily Wilson, the CMO, has eight years of experience in corporate Hollywood PR, working with major studios such as Walt Disney, Warner Bros, and Universal Studios. Emily is a social media marketing expert with extensive knowledge of product positioning and scaling. Her expertise in marketing and public relations is crucial for building b0arding.com's brand and attracting its target demographic of younger travelers. Emily's experience in high-profile marketing campaigns will help the company effectively reach and engage its audience.

The skills and experience of the b0arding.com team align well with the company's goals of providing an immersive and authentic travel booking experience. Victor's industry knowledge and entrepreneurial background support the company's strategic vision, while Alex's technical expertise ensures the platform's robustness and scalability. Emily's marketing prowess is key to building brand awareness and driving user acquisition.

However, there are potential gaps in the team that could be critical for achieving future milestones. For instance, additional expertise in financial management could help the company navigate its current financial challenges and optimize resource allocation. Moreover, having team members with a background in customer experience or user interface design could further enhance the platform's usability and appeal to its target demographic.

In summary, b0arding.com's leadership team brings a strong combination of industry knowledge, technical expertise, and marketing skills, which are essential for the company's success. Addressing any gaps in financial management and user experience design could further strengthen the team's ability to achieve the company's long-term objectives.

Next Section: Differentiation

Differentiation

b0arding.com operates in a highly competitive market alongside well-established players such as Booking.com, Expedia, and Airbnb. These competitors have significant market presence and resources, making it essential for b0arding.com to differentiate itself effectively.

Booking.com, a subsidiary of Booking Holdings, is one of the largest travel booking platforms globally, offering a vast inventory of hotels, vacation rentals, and travel services. The platform is known for its extensive user reviews and competitive pricing. Booking.com has a well-established brand and a large customer base, which provides it with a considerable advantage in terms of market reach and trust.

Expedia, part of Expedia Group, offers a comprehensive range of travel services, including flights, hotels, car rentals, and vacation packages. Similar to Booking.com, Expedia benefits from a large user base and extensive resources, enabling it to provide competitive pricing and a wide array of options. The platform is also known for its user-friendly interface and robust customer support.

Airbnb, a pioneer in the short-term rental market, offers unique accommodations ranging from private rooms to entire homes. Airbnb's focus on providing authentic and personalized travel experiences has resonated with many travelers, particularly those seeking alternatives to traditional hotels. The platform's strong community aspect and extensive user reviews contribute to its appeal.

Compared to these industry giants, b0arding.com differentiates itself through its focus on video reviews, providing an immersive and authentic booking experience. This approach caters specifically to younger travelers, particularly Generation Z and Millennials, who are accustomed to consuming video content and prefer more interactive and engaging ways of gathering information. By integrating video reviews, b0arding.com aims to offer a more transparent and informative booking process, helping users make better-informed travel decisions.

The primary customer demographics for b0arding.com are younger travelers, typically aged 18 to 35, who are tech-savvy and value authentic travel experiences. This demographic is characterized by a higher reliance on mobile devices for travel bookings and a preference for personalized and visually engaging content. These travelers are also more likely to seek out unique and off-the-beaten-path accommodations, aligning well with b0arding.com's video-centric platform.

In terms of product quality, b0arding.com's integration with industry leaders like Google and Booking.com enhances its credibility and ensures a wide range of accommodation options. The platform's recent addition of 2 million hotels and 3 million rooms to its database further strengthens its offering, providing users with a comprehensive selection of travel options.

Pricing on b0arding.com is competitive, aiming to match or slightly undercut the rates offered by larger platforms. However, the primary differentiation lies in the user experience rather than pricing alone. The focus on video reviews provides a unique value proposition that sets b0arding.com apart from its competitors, appealing to a specific segment of the market that prioritizes transparency and engagement in their travel planning process.

Next Section: Performance

Performance

b0arding.com has demonstrated notable growth in its early stages, with significant year-over-year revenue increases. In the most recent fiscal year, the company reported annual revenue of $980k, a substantial rise from $193k in the prior year, reflecting a growth rate of 409%. This impressive growth underscores the platform's ability to attract users and generate revenue within a competitive market.

The company's financial metrics indicate a cautious yet strategic approach to managing its resources. The most recent cash on hand is reported at $50k, while the monthly burn rate stands at $10k. These figures suggest that b0arding.com is operating with a tight financial runway, emphasizing the importance of securing additional funding to sustain operations and support continued growth initiatives. The low cash reserves highlight the need for prudent cash flow management and efficient allocation of resources to ensure the company's financial stability.

In terms of user engagement, b0arding.com has successfully integrated with Amadeus, adding 300k new listings to its portfolio. This expansion has increased the platform's offerings and enhanced its value proposition to users. The company's collaboration with industry leaders such as Google and Booking.com further validates its market presence and potential for growth.

b0arding.com’s leadership team, though relatively new to the travel industry, brings a blend of entrepreneurial and technical expertise. The CEO and CTO, each with two years of relevant industry experience, have managed to steer the company towards achieving nearly $1 million in revenue. Their ability to navigate the complexities of the travel booking market will be crucial as the company continues to scale.

Despite the positive growth trajectory, b0arding.com operates in an industry characterized by low margins and high competition. The company's ability to differentiate itself through video reviews and an immersive booking experience will be critical to maintaining and expanding its user base. Additionally, exploring supplementary revenue streams, such as advertising, could enhance financial performance and support long-term sustainability.

In summary, b0arding.com has shown strong initial performance with significant revenue growth and strategic industry partnerships. However, the company must address its tight financial runway and continue to innovate to thrive in the competitive travel booking market.

Next Section: Risk

Risk

Investing in b0arding.com presents several specific risks that potential investors should consider carefully.

One of the primary risks is the competitive landscape in which b0arding.com operates. The travel booking industry is highly competitive, with established players like Booking.com, Expedia, Trip Advisor, and Airbnb dominating the market. These competitors have significant resources and brand recognition, making it challenging for b0arding.com to capture and maintain market share. The company's ability to differentiate itself through video reviews and an immersive booking experience will be crucial to its success.

b0arding.com is also a two-sided marketplace, which inherently carries its own set of challenges. Building and scaling a two-sided platform requires substantial capital investment and a delicate balance between supply and demand. In b0arding.com's case, ensuring a sufficient number of quality video reviews to attract and retain users while simultaneously maintaining an extensive and appealing inventory of hotels and rooms will be essential. The platform's success depends on achieving this equilibrium, which can be difficult and resource-intensive.

The company's pre-profit status and low margins also present potential risks. While b0arding.com has demonstrated revenue growth, reaching nearly $1 million last year, the low margins in the travel booking industry could impact its ability to achieve sustainable profitability. The company will need to focus on optimizing operational efficiency and exploring additional revenue streams, such as advertising, to enhance its financial performance.

Leadership is another critical factor to consider. The CEO and CTO of b0arding.com have limited relevant industry experience, with each having two years in the travel sector. While they bring valuable entrepreneurial and technical expertise, the rapid evolution and complexity of the travel industry may demand more specialized knowledge and experience to navigate effectively.

Finally, b0arding.com operates in a market that is subject to external factors such as economic fluctuations, geopolitical events, and public health crises, which can significantly impact travel demand. The company's ability to adapt to such changes and mitigate associated risks will be paramount to its long-term viability.

Next Section: Bullish Outlook

Bullish Outlook

Several factors contribute to a bullish outlook for b0arding.com, highlighting the company's potential for growth and success in the competitive travel booking market.

One of the key positive factors is the significant market opportunity. The US online travel booking service market is valued at approximately $154.5 billion, with a projected growth rate of 8.4%. This large and expanding market offers ample opportunities for b0arding.com to capture a meaningful share, particularly as it targets younger demographics who are increasingly spending on travel experiences.

b0arding.com's unique strength lies in its focus on video reviews, which offers an immersive and authentic booking experience. This feature differentiates the platform from competitors and appeals specifically to Generation Z and Millennials, who prefer engaging and visually-rich content. By addressing a specific pain point in the travel booking process—providing more transparent and informative content—b0arding.com can attract and retain a loyal user base.

The company's strong partnerships with industry leaders such as Google, Booking.com, and Amadeus are notable achievements that enhance its credibility and market reach. These collaborations have helped b0arding.com expand its database to include 2 million hotels and 3 million rooms, providing users with a comprehensive selection of travel options. Such partnerships also position the company favorably for future growth and potential acquisition opportunities.

From a financial perspective, b0arding.com has demonstrated impressive revenue growth, increasing from $193k in the prior year to $980k in the most recent fiscal year, reflecting a growth rate of 409%. This strong revenue growth indicates a high demand for the platform and its unique value proposition. While the company currently operates with a limited financial runway, its ability to secure additional funding could provide the necessary resources to sustain and accelerate growth.

Emerging trends and technologies also play a crucial role in driving b0arding.com's growth. The increasing use of mobile devices for travel bookings and the influence of social media on travel decisions align well with the company's strategy of offering video reviews and a mobile-friendly platform. By leveraging these trends, b0arding.com can enhance user engagement and expand its reach.

Next Section: Bearish Outlook

Bearish Outlook

Several factors contribute to a bearish outlook for b0arding.com, highlighting potential challenges and risks that investors should consider.

Firstly, the highly competitive landscape in the travel booking industry presents significant market challenges. Established players like Booking.com, Expedia, and Airbnb have substantial resources, brand recognition, and extensive customer bases. These competitors can outspend b0arding.com in marketing and technology development, making it challenging for the company to capture and maintain market share. Additionally, the travel booking market is characterized by low margins, which could impact b0arding.com's ability to achieve sustainable profitability.

Another concern is the company's financial position. With only $50k in cash on hand and a monthly burn rate of $10k, b0arding.com faces a limited financial runway. This situation necessitates securing additional funding to sustain operations and support growth initiatives. The reliance on external funding could pose risks if the company struggles to attract investment, especially given the highly competitive market.

Additionally, building and scaling a two-sided marketplace like b0arding.com is inherently challenging. The platform must balance supply and demand, ensuring a sufficient number of quality video reviews and an extensive inventory of accommodations to attract and retain users. Achieving this equilibrium requires substantial capital and resources, and any imbalance could impact user experience and retention.

From a growth perspective, the company's reliance on video reviews as its primary differentiator may limit its appeal to a broader audience. While this feature resonates well with younger travelers, it may not attract older demographics who prioritize different aspects of the booking experience. Furthermore, the integration and constant updating of video content can be resource-intensive and may pose technological challenges.

Next Section: Executive Summary

Executive Summary

b0arding.com is a travel booking platform that aims to provide an immersive and authentic booking experience through video reviews. The company primarily targets younger travelers, particularly Generation Z and Millennials, who value transparency and engagement in their travel planning. The platform has achieved notable milestones, including collaborations with Google and Booking.com, and has grown its database to include 2 million hotels and 3 million rooms.

The US online travel booking service market, valued at $154.5 billion with an 8.4% growth rate, presents significant opportunities for b0arding.com. Key market drivers include high travel expenditure by younger demographics, a preference for mobile bookings, and the influence of social media on travel decisions. These trends align well with b0arding.com's focus on video reviews and mobile-friendly platform, positioning it to capture a niche segment within this large market.

b0arding.com has demonstrated strong initial performance with a 409% year-over-year revenue growth, reaching $980k in the most recent fiscal year. However, the company operates with limited financial runway, with $50k in cash on hand and a monthly burn rate of $10k. This underscores the importance of securing additional funding to sustain operations and support continued growth.

The company differentiates itself through its focus on video reviews, targeting younger, tech-savvy travelers who seek authentic and engaging travel experiences. Competitors like Booking.com, Expedia, and Airbnb offer extensive inventories and resources, but b0arding.com's unique approach provides a distinct value proposition for its target demographic.

On the positive side, b0arding.com's strong revenue growth, strategic partnerships, and alignment with key market trends are significant growth drivers. The company's unique value proposition of video reviews resonates well with its target demographic, providing a competitive edge in the market.

Conversely, the competitive landscape, financial constraints, and need for additional expertise present challenges that could inhibit growth. The company's ability to navigate these challenges and continue its growth trajectory will be crucial for achieving long-term success. The company's pre-profit status and low margins also pose potential risks, requiring effective cash flow management and operational efficiency.

In conclusion, b0arding.com presents a compelling investment opportunity with its innovative approach to travel booking and strong initial performance. However, potential investors should carefully consider the specific risks and challenges associated with this investment. Balancing the bullish outlook with the bearish factors will be essential for making an informed investment decision.

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b0arding.com on StartEngine 2024
Platform: StartEngine
Security Type: Equity - Common
Valuation: $9,515,686
Price per Share: $1.00

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