Boaz Bikes

Boaz Bikes

Early Stage

Electric shared scooter company that is focused on SAFETY!

Electric shared scooter company that is focused on SAFETY!

Overview

Raised this Round: Raised: $155,799

Total Commitments ($USD)

Platform

StartEngine

Start Date

10/31/2022

Close Date

03/01/2023

Min. Goal
$9,999
Max. Goal
$3,799,996
Min. Investment

$248

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.94

Pre-Money Valuation

$19,480,046

Year Founded

2018

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

High

Capital Intensity

High

Location

Detroit, Michigan

Business Type

Growth

Boaz Bikes, with a valuation of $19.5 million, is raising funds on StartEngine. It is an electric scooter-sharing company focused on safety. The scooters have a state-of-the-art design and come with batteries that can be swapped out in less than a minute compared to taking scooters home to charge. Boaz Bikes’ revenues per ride surpassed its competitors’ in 2021, and year-over-year revenues grew 319%. Emil I NNANI and Cory Smith founded Boaz Bike in 2018. The current crowdfunding campaign has a minimum target of $9,998.76 and a maximum target of $3.8 million. The campaign proceeds will be used to expand in more cities and markets and grow the annual revenue.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$576,970

$130,979

COGS

$223,799

$30,672

Tax

$761

$0

 

 

Net Income

$97,031

$-32,245

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$106,767

$24,899

Accounts Receivable

$0

$0

Total Assets

$798,455

$309,911

Short-Term Debt

$0

$0

Long-Term Debt

$673,367

$424,229

Total Liabilities

$673,367

$424,229

Financials as of: 10/31/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Boaz Bikes 04/28/2024 Wefunder $19,500,000 $62,834 Convertible Note Funded RegCF
Boaz Bikes 02/28/2023 StartEngine $19,480,046 $155,799 Equity - Common Funded RegCF
Boaz Bikes 07/27/2022 StartEngine $50,000,000 $198,606 Equity - Common Funded RegCF
Boaz Bikes 09/02/2021 Wefunder $40,000,000 $1,233,876 SAFE Funded RegCF
Boaz Bikes 02/27/2021 Wefunder $15,000,000 $930,934 Convertible Note Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Company Updates

When I first talked with Emil in early 2022, his company already had better metrics than most of its competitors. In 2021, Boaz Bikes was profitable and had no reported accidents over its first 200,000 rides. Back then, it was a small startup with good potential. Now, its growth is what matters.

View Company Update

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Add to portfolio
Boaz Bikes on StartEngine 2022
Platform: StartEngine
Security Type: Equity - Common
Valuation: $19,480,046
Price per Share: $1.94

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Follow Boaz Bikes on StartEngine 2022

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