Wetboard

Wetboard

Closed: Dec. 2017

About this raise: Surfing is cool. Wakeboarding is cool. Water skiing? Also cool. So imagine a water ski-wakeboard-surfing hybrid. It’s, like, the ultimate level of cool.

And that’s what the Wetboard is - making waves by combining three of the coolest water sports out there. Wetboard is a self-powered surfboard that aims to define a newer, greener era of water sports. Good for both calm lakes and ocean waves, Wetboard allows you to hang ten anytime, anywhere.

The creators claim this is different from the other powered surfboards you see buzzing around the water. They expect it to be more maneuverable with a unique and smaller patent-pending propulsion system and impeller that are both more efficient and electric (no gas needed). It also won’t require a tow boat or trailer, as it’s only five feet long, 18 inches wide, and less than 30 pounds.

Wetboard thinks its found a nitsche in the personal watercraft manufacturing market, which is predicted to reach $859M and a 9.6% growth rate by 2018. Founder and CEO, Chris White, has dreamed about making Wetboard a reality since he was 13. The passion is real, and the plan is there. In fact, Wetboard seems to have all its ducks (fins?) in a row. However...no actual prototype exists. All of this is just the plan. Their Start Engine venture is only to get the prototype party started. Then, in March 2018, after they’ve (hopefully) made a successful and working prototype, they hope to launch Kickstarter and Indiegogo campaigns to make the actual surfboards. In other words, all of this is simply frothy buzz for the moment. There’s not an existing Wetboard that can go out there and get, ya know, wet.

While I love water sports and surfing, and I can’t wait to try Wetboard when it actually swells into existence, I might wait to make sure there’s a working prototype before investing lock and stock with the dream of surfing my next barrel. In the meantime, there’s plenty of other powered surfboards already out there to help you chase your pipe dreams.

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Investment Overview

Invested this round: $13,500

Deal Terms

Total Commitments ($USD)

Platform
StartEngine
Start Date
10/05/2017
Close Date
12/18/2017
Min. Goal
$10,000
Max. Goal
$107,000
Min. Investment

$150

Security Type

Equity - Common

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.00

Pre-Money Valuation

$1,600,000

Company & Team

Company

Year Founded
2015
Industry
Consumer Products, Goods & Services
Tech Sector
Location
Bellevue, Washington
Company Website
Visit Website

Team

Employees
5

Financials

Financials are not currently available for this company. This may occur if the company is still Testing the Waters, is a Regulation D offering, or if the financials are still under review and being confirmed by our team. For Reg CF and Reg A+ raises, please check back later.

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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
12/18/2017 StartEngine $1,600,000 $13,500 Equity - Common Funded RegCF
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Wetboard on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $1,600,000
Price per Share: $2.00

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

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