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

10/22/2022

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

Venture Capital Investors:

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
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Year Founded

2013

Industry

Security, Cybersecurity, & Defense

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Location

Sunnyvale, California

Business Type

Growth

Company Website

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
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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
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Price per Share History

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

Valuation History

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.

Employee History

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

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