Sad news from the CEO of Boosted, the maker of electric skateboards, posted a message to their community. It is a tough message to write, but at least it is honest. Boosted was a company that defined electric skateboarding and made it cool:
Just a few days ago, Boosted laid off the majority of the team with only a week's worth of severance. Only a few critical members of the customer service and operations stayed on to shut down the business with grace. Boosted is looking for a buyer to salvage its business, but can they find one in time?
The Verge reported a few days ago that even after raising more than $80 million at the end of 2018, Boosted Boards ran out of money. The 25% tariffs imposed in 2016 on imports from China, where they manufactured the boards was detrimental to their margins:
Here is a photo of me riding a Boosted Board for the first time taken by @bstrong. That was five years ago, and I still want one!