Boomerang Bike

Boomerang Bike

Early Stage

Your Bike is Freedom Don't Lose it.

Your Bike is Freedom Don't Lose it.

Overview

Raised to Date: Raised: $24,100

Total Commitments ($USD)

Platform

Silicon Prairie Online

Start Date

06/20/2022

Close Date

10/21/2022

Min. Goal
$10,000
Max. Goal
$1,070,000
Min. Investment

$200

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.33

Pre-Money Valuation

$15,782,386

Rolling Commitments ($USD)

Status
Funded
Reporting Date

10/30/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$196

# of Investors

7

Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2013

Industry

Security, Cybersecurity, & Defense

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Sunnyvale, California

Business Type

Growth

Boomerang Bike, with a valuation of $15.8 million, is raising funds on Silicon Prairie Online. The company has developed a GPS bike security system that uses IoT technology to prevent bike theft. The Boomerang CycloTrac is a bike alarm and GPS tracker that attaches to the bike and runs on cloud-based software through an app. Boomerang Bike is in the pre-ramp stage and generated revenues of $192,000 in 2020. The business has over 3,000 customers and expects to reach 5,000 customers soon. Kevin Fahrner founded Boomerang Bike in July 2013. The current crowdfunding campaign has a minimum target of $9,999.99 and a maximum target of $1,069,999.59. The campaign proceeds will be used for growth and expansion.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$192,161

$104,305

COGS

$234,652

$59,027

Tax

$4,123

$0

 

 

Net Income

$-482,826

$-700,038

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$6,307

$72,451

Accounts Receivable

$0

$2,204

Total Assets

$258,910

$157,874

Short-Term Debt

$392,876

$323,097

Long-Term Debt

$52,974

$2,204,358

Total Liabilities

$445,850

$2,527,455

Financials as of: 06/20/2022
Create a free account today to gain access to KingsCrowd analytics.

Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Boomerang Bike 10/21/2022 Silicon Prairie Online $15,782,386 $24,100 Equity - Common Funded RegCF
Boomerang Bike 04/29/2022 StartEngine $15,782,386 $40,025 Equity - Common Funded RegCF
Create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.

Create your first portfolio

Create your own startup investment portfolio on KingsCrowd.

Track all of your startup investments in one place using our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
Boomerang Bike on Silicon Prairie Online 2022
Platform: Silicon Prairie Online
Security Type: Equity - Common
Valuation: $15,782,386
Price per Share: $0.33

Follow company

Follow Boomerang Bike on Silicon Prairie Online 2022

Buy Boomerang Bike's Deal Report

Warning: according to the close date for this deal, Boomerang Bike may no longer be accepting investments.

Boomerang Bike Deal Report

Get KingsCrowd’s comprehensive report on Boomerang Bike including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Boomerang Bike is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the Boomerang Bike deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge