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Boosted Lays off a Significant Portion of Its Team as It Looks for a Buyer

Boosted is the startup behind Boosted Boards and Boosted Rec electric scooter. Today, the company has announced that the Boosted Rev electric scooter has laid off a notable portion of the entire team, and the company, right now, is seeking a buyer actively.

Boosted attributes the layoffs to the costs of producing, developing and maintaining electric vehicles along with the unplanned challenge with a higher expense of US-China tariff war – written by the Boosted CEO Jeff Russakow and CTO John Ulmen in a blog post. They wrote that the Boosted would continue chasing strategic options under current ownership.

Boosted started back in the year of 2012 and made their first foray outside of the electric skateboards previous year with the starting of an electric scooter. Boosted says that over 100,000 riders have travelled tens of millions of miles on the vehicles.

Russakow and Ulmen write that they were highly proud of what their company had achieved and gratified to see a lot of satisfied customers riding the Boosted vehicles every day.

All these shouldn’t come as a surprise. For the starters, micro-mobility is a harder business, which is like that no company can positively say that it has cracked. In the meantime, The Verge reported that the company was at risk of running out of money. While Boosted reportedly struggled to pay its vendors for those electric scooters.

Ulmen and Russakow also wrote that they would have liked to thank their customers for their passionate support as well as encouragement for the last nine years. That’s had been the thrill of their lives to spend time with the customers and aid in shaping the future of mobility together.

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Shahina Khatun

Shahina is a Web Developer, Content Writer, SEO Expert and Social Media Marketer.

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