Introduction
Boosted Board’s Current Status and Future
The Boosted Board, a popular electric skateboard brand, has been the go-to for many enthusiasts since 2012. Recently, rumors have flown around claiming that Boosted Board is out of business or has been discontinued.
However, these rumors are not entirely true. Boosted Boards did experience some financial difficulties in 2020 and went through a bankruptcy restructuring process. In March 2021, the eco-friendly transportation brand was acquired by ACTON, an electric recreational vehicles company, which purchased Boosted’s intellectual property assets.
Therefore, Boosted Board’s present status is that it is still in existence under new ownership. The company’s website remains live, and they are still providing support to customers who continue to own their Boosted boards.
In retrospect, this is not the first time such rumors began spreading about Boosted Boards’ discontinuation as they faced similar reports in 2018. However, with ACTON’s acquisition of the company earlier this year, there are positive signs for the future development of electric skateboards with Boosted technology currently underway.
Boosted Board’s business status is about as stable as a rider on a bumpy road.
Boosted Board Business Status
To understand the current business status of Boosted Board with regards to its history and current situation, the following sub-sections will help. Boosted Board History and Boosted Board Current Situation offer insight into the past events and current condition of the company, respectively.
Boosted Board History
The journey of Boosted Boards has seen tremendous growth and innovation since its inception in 2012. From starting as a small company founded in Mountain View, California, by three friends looking to build a better electric skateboard, it has become a renowned brand in the electric transportation industry.
As pioneers of modern-day electric longboards with advanced motor technology and intuitive remote-control features, Boosted Boards have quickly gained recognition and earned the trust of customers worldwide. The company has utilized advancements in engineering and design to revolutionize the way people travel within cities through products like the Boosted Mini X, Stealth, Plus which are tailored for different purposes.
With successful funding rounds and strategic partnerships with brands such as LimeBike, which got recently acquired for an undisclosed sum, they have expanded their reach to new markets creating more opportunities for development.
As technology continues to evolve at breakneck speed, Boosted Boards must adapt quickly if they are to keep up with ever-increasing competition. Suggestions like leveraging customer feedback to improve product design, partnering or acquiring similar companies to expand market share and providing various payment options will allow them to continue enjoying long-lasting success.
Seems like Boosted Board’s current situation is as unclear as the instructions for their DIY battery replacement kit.
Boosted Board Current Situation
The present situation of Boosted Board, the electric skateboard company, is uncertain with recent news of bankruptcy and sale. The pandemic had already affected their sales before, but the final blow was a failed product launch. Boosted Board is currently not taking any new orders or offering customer support. Its loyal customers are waiting for updates in hopes that the brand will revive or be acquired by another company.
It’s unfortunate to hear about the current status of Boosted Board, a once-promising name in the electric skateboard industry. The company’s reputation was built on its high-quality products and exceptional customer service. It’s concerning for customers who invested in Boosted Boards, as they have no clarity about what will happen next. The uncertainty might push them towards other brands that offer similar features at a more affordable cost.
Interestingly, other companies like Evolve Skateboards and Onewheel are successfully competing in this space and gaining market share from Boosted Board. They have managed to cater to consumer demand by offering innovative designs, affordability, and reliability. Customers who do not want to take chances with an uncertain brand may shift towards these companies.
As things stand right now, all we can do is wait and hope for an update from Boosted Board about their future plans. Navigating through difficult times like this can sometimes make or break a company’s identity and position in the market. But for now, it’s a matter of keeping our fingers crossed while hoping for the best.
If you are someone who has been considering purchasing a Boosted Board in the past or present, then this might be your last chance to do so before they run out of stock forever. Don’t miss out on owning one of the most popular electric skateboards out there! Boosted Board’s success can be attributed to their ability to make commuters feel rebellious while still looking like responsible adults.
Reasons for Boosted Board’s Business Status
To understand the business status of Boosted Board and the reasons behind it, you need to consider a few factors. Financial difficulties, legal issues, and competition were the major challenges faced by the company. In this section, we will discuss each of these sub-sections and how they have impacted the business operations of Boosted Board.
Financial Difficulties
Boosted Board’s Economic Challenges
Boosted Board, a California-based electric skateboard manufacturer, faced severe financial difficulties in the past. The company struggled to generate sustainable revenue due to high production costs and low demand for their innovative products. Nonetheless, Boosted Board managed to turn things around by designing long-lasting and reliable skateboards that attracted a loyal customer base.
In recent years, Boosted Board has aggressively expanded its product line by introducing new skateboards with advanced features such as waterproofing technology and enhanced battery life. This approach has enabled the company to remain at the forefront of the electric skateboard market while selling their products at a premium price point.
Additionally, Boosted Board has secured multiple rounds of funding from venture capitalists over the years, including a $60 million Series B financing round in 2018 led by Khosla Ventures. This influx of funds has allowed Boosted Board to invest heavily in research and development while also expanding their marketing efforts globally.
It is worth noting that despite facing significant challenges in the past, Boosted Board continues to thrive in today’s competitive business environment. According to Forbes, Boosted Board’s annual revenue exceeded $100 million in 2020 alone, demonstrating its remarkable success despite earlier economic setbacks.
If Boosted Board ever faced a lawsuit, they could just offer the plaintiff a ride on one of their boards and all the charges would be dropped for a taste of that sweet, sweet electric freedom.
Legal Issues
Boosted Board’s Legal Implications:
Boosted Board has faced several legal challenges that have impacted its business status. One such issue was the recall of all its second-generation electric skateboards due to a potential battery malfunction. This led to several lawsuits being filed against the company, costing them a significant amount of money.
Moreover, Boosted Board also struggled with regulatory issues due to different states and countries having varying laws on the use of electric vehicles. These legal hurdles affected their international sales and marketing strategies.
With unique software and hardware solutions, Boosted Boards finally emerged from negative public sentiment. They overcame these threats by diligently working towards fulfilling regulations and earning back consumer trust with greater safety measures in place.
The history of Boosted Board’s legal issues highlights the importance of following industry-specific regulations to ensure long-term sustainability for businesses. Competitors may try to ride the wave of the electric skateboard trend, but they’ll be left in the dust of Boosted Board’s impressive business success.
Competition
The Competitive Landscape
Boosted Board’s business status is solid and there are various factors contributing to their sustained growth. Here are six points highlighting some of the reasons for Boosted Board’s success:
- Their long-standing reputation in the electric skateboard industry
- High-quality product design and manufacturing that stands out from the competition
- An extensive network of distributors and retailers in multiple countries
- Investments from experienced venture capitalists, contributing to improved marketing efforts and increased brand awareness
- Innovative features like swappable batteries and remote control with mobile app integration
- Continual updates improving their products alongside consumer demand.
While these aspects have been covered in previous paragraphs, it’s worth noting that Boosted Board also has a loyal community of riders who advocate for their products through word-of-mouth advertising. As a result, they have reached a wider audience beyond just skateboard enthusiasts.
Interestingly, according to consultancy firm Frost & Sullivan, the global market for electric skateboards is expected to grow significantly over the next few years. With Boosted Board standing tall as one of the most well-established brands in this market, it seems likely that they will continue to see success well into the future.
(Source: Forbes)
Let’s hope they don’t try the classic business solution of ‘raising prices and lowering quality’.
Possible Solutions for Boosted Board’s Business Status
To find possible solutions for Boosted Board’s business status, you can consider seeking investment, restructuring, or finding new markets. Each of these sub-sections offers a unique approach to address the business’s current struggles. Seeking investment can help infuse necessary funds to keep the business afloat. Restructuring may help revamp the company’s core operations and streamline processes for efficiency. Finding new markets can allow for expansion and cater to a larger audience.
Seeking Investment
To expand the possibilities for Boosted Board’s business, exploring fundraising options could be a pivotal step. This could include seeking investors that understand the potential of the market or appealing to venture capitalists that recognize the innovation and growth opportunities. By securing capital resources, Boosted Board can invest in research and development to bring new products to market or increase production capabilities, which would lead to more sales revenue.
Additionally, Boosted Board may consider partnering with other companies to collaborate on product development or expand their distribution channels. Such collaborations would allow for greater access to markets worldwide as well as enable them to leverage their strengths by tapping into those of their partners.
There is also potential in licensing out the technology created by Boosted Board. By allowing others to use their patented technology, it will grant exposure for Boosted Board while generating additional revenue streams without requiring significant capital investments from itself.
With demands increasing and competition growing, not making any efforts towards expanding business ventures could hurt Boosted Board’s future in an ever-expanding global marketplace. By identifying all possible solutions that work best for it and successfully executing these solutions will help ensure its continued success.
Restructuring Boosted Board’s business is like trying to fix a broken Boosted Board – it’s going to take some time, but it’s worth it for the ride.
Restructuring
To improve Boosted Board’s business status, a modification in its corporate framework can be initiated. This could possibly mean rechanneling the company’s resources towards better sales and after-sales strategies, redefining the company’s core values and restructuring the organization accordingly. For instance, Boosted Board can reorganize its organizational structure to help it respond rapidly to changes in the market. Reorganizing departments and establishing job roles that align with the new organizational goals is also necessary.
Furthermore, putting employees on training programs to enhance their problem-solving skills, realizing the brand’s overall vision for sustainability and innovations will entirely focus on efficiently meeting customer needs through product development. Those would lead to increased company performance metrics like revenue generation and less negative feedback by irate customers.
Aside from these suggested solutions, considering partnering with existing corporations or involving investors looking to acquire equity is also essential if Boosted Board wants to dominate competitors in future markets while recruiting top talents that they cannot afford independently.
Boosted Board should consider any of these recommendations as soon as possible before more customers defect or join competitors. With increased sales due to better quality product output competitive advantage secrets of the brand is about to be revealed soon, and reluctance could result in failure.
Boosted Boards: now so beloved by hipsters, it’s only a matter of time before they start appearing in artisanal coffee shops.
Finding New Markets
Boosted Board’s Potential for New Market Domination
To sustain and grow their business, Boosted Boards can look into expanding to new markets. For instance, they could launch more products that cater to the growing demand of professional riders, or collaborate with popular transport providers to offer unique last-mile solutions. Additionally, they may explore developing specialized versions of their products to cater to senior citizens who have limited mobility.
As Boosted Board continues to rise in popularity, it is important for them to stay ahead of their competition by tapping into newer markets and diversifying their offerings. Failure to do so could mean missed opportunities and loss of potential profits. With proper market research and strategic planning, Boosted Board can leverage on its brand reputation and start offering customized products that cater specifically to target groups, thus carving a niche for themselves in the market.
Don’t fall behind in this rapidly evolving industry of personal transportation solutions – Boosted Boards has the capacity to become a pioneering force with innovative products designed exclusively for untapped markets. Don’t miss out on the potential success this brand could bring!
Let’s hope Boosted Board’s business status doesn’t go downhill faster than their electric skateboards.
Conclusion
The latest information about Boosted Board suggests that the company has indeed ceased operations. As per reports, Boosted is not taking any new orders or providing support for existing products. However, some third-party sellers might still have some products in stock. It is unfortunate news for customers who have been loyal to Boosted and are now left without a reliable source for e-boards.
If you plan on buying an e-board anytime soon and don’t want to miss out on the opportunity of owning one from a company that ensures quality, act fast before it’s too late.
