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Security Type
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Convertible Note
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Categories
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Technology, Transportation & Storage, Other, Consumer Goods & Products, Retail, Community & Lifestyle
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Min Investment
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$100
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Offering Date
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February 23, 2022
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Expected Close Date
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April 29, 2024
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Target Raise
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$50.00K-$3.00M
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No. Investors
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132
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Security Price
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$1
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Valuation
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$19,480,046
- Number of Employees
- 21
- Cash
- $262,962
- Revenue
- $753,160
- Short Term Debt
- $15,513
- Cost of Goods
- $536,987
- Long Term Debt
- $1,370,732
- Net Income
- $7,183
Company Description
Boaz Bikes is a Black-owned and Woman-owned micro-mobility company with a strong focus on community. As the first mover in the sit-down shared scooter market, Boaz has developed a safer and more cost-efficient way to move people around while helping solve the first and last mile problem.
Perks
StartEngine OWNERS Exclusive Click here to learn more
$250+ Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
Friends and Family
Invest within the first 72 hours and receive 25% Bonus Shares.
2
days
14
hours
5
mins
40
secs
$500+ Investment
Tier 1 | $500
Invest $500 and receive a free "investing is the new normal" T-Shirt.
$1,000+ Investment
Tier 2 | $1,000
Invest $1,000 and receive Tier 1+ a $100 credit off future rides.
$2,000+ Investment
Tier 3 | $2,000
Invest $2,000 and receive Tier 2 + your name in credits on our "thank you page."
$5,000+ Investment
Tier 4 | $5,000
Invest $5,000 and receive Tier 3 + free rides all year.
$10,000+ Investment
Tier 5 | $10,000
Invest $10,000 and receive Tier 4 + virtual meet and greet with the entire team & tour of our facility.
$20,000+ Investment
Tier 6 | $20,000
Invest $20,000 and receive Tier 4 + a free scooter.
Key Deal Facts
In the summer of 2021, our revenue per ride passed that of Bird & Lime by a multiple of 2.5x. By EOY, our year-over-year revenue grew 319%.
Sit-down scooters are significantly safer (6.3x*) and more cost efficient (2.9x**) than stand-up scooters. Boaz has had zero reported accidents for 100,000 rides.
Boaz is Black-founded, Black-owned, and Woman-owned; the company is committed to changing transportation and elevating community through generational wealth.
Management Team / Advisory Board Bios
Cory Smith
CFO
MBA in finance from Wharton. Helped lead SportsRecruits to their 1st year of profitability. Helped startups raise millions in seed funding. Ran financials for a health care company with over $9 Billion in revenue.
Tim Holmgren
CTO
20 years+ of experience in the technology sector. Prior Chief Technology Officer at Aftr.live and Senior Director of Digital Production at Burson Marsteller/Y&R. Won 2008 Rhode Island Business Plan Competition for MissingPatient.com.
Shauna Armitage
Head of Marketing (Part-Time)
Helped companies achieve results such as a 400% increase in website conversions and a 220% growth in sales. Hubspot Certified professional with a certificate in Women’s Entrepreneurship from Cornell University.
Shauna is a contractor and works with Boaz Bikes part-time.