Boaz Bikes

Electric shared scooter company that is focused on SAFETY!

Analytics

Raised to Date: Raised: $82,515

Aggregate Commitments $

Platform

StartEngine

Start Date

11/01/2022

Close Date

01/30/2023

Min. Goal

$9,999

Max. Goal

$3,799,996

Min. Investment

$248

Security Type

Equity - Common

Funding Type

RegCF

Series

Seed

Price Per Share

$1.94

Pre-Money Valuation

$19,480,046

Rolling Commitments $

Status

Active

Reporting Date

11/28/2022

Days Remaining

63

% of Min. Goal

825%

% of Max. Goal

2%

Likelihood of Max
unlikely
Avg. Daily Raise

$3,056

# of Investors

161

Momentum
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Location

Detroit, Michigan

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

High

Capital Intensity

High

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: 11/01/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Boaz Bikes 01/30/2023 StartEngine $19,480,046 $82,515 Equity - Common Active RegCF
Boaz Bikes 07/28/2022 StartEngine $50,000,000 $198,606 Equity - Common Funded RegCF
Boaz Bikes 09/03/2021 Wefunder $40,000,000 $1,233,876 SAFE Funded RegCF
Boaz Bikes 02/28/2021 Wefunder $15,000,000 $930,934 Convertible Note Funded RegCF
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Boaz Bikes on StartEngine 2022
$
Platform: StartEngine
Security Type: Equity - Common
Valuation: $19,480,046
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