Sunnyvale, Calif. – July 06, 2022 – Boomerang Bike Corp. has launched an equity crowdfunding campaign with Silicon Prairie. Founded by a group of avid cyclists, Boomerang’s mission is to develop a line of bike theft protection products that use a motion-sensing alarm and GPS technology to keep an owner’s bike safe from theft. As of 2021, Boomerang reported annual revenue of $133,000 and a base of 3,000 customers that is expected to grow to 5,000 before the end of 2022.
As bike ownership and bike prices rise, so too is the number of unsolved bike thefts. And as bicycles become more sophisticated and valuable — aggregate sales of e-bikes alone are expected to reach 130 million by 2023 — the security system tasked with keeping them safe needs to keep up.
Boomerang’s new CycloTrac V2 system is the anti-theft device that is becoming the recognizable standard among savvy cyclists. It’s the ultimate thief deterrent because its reputation alone tells anyone who wants to steal a bike with a mounted CycloTrac device to move along.
“Every bike theft attempt with a CycloTrac has deterred the thief,” said Kevin Fahrner, founder, and CEO of Boomerang. “Even though we are just getting CycloTracs into the marketplace, customers have reported over 95% of the bike thieves run away once the alarm sounds.”
The Boomerang team believes CycloTrac is the modern security system that modern cyclists have been waiting for. They predict CycloTrac will attract as many as 500,000 new customers — and up to $50 million in hardware and subscription revenues — by 2024. The product has also already received dozens of glowing testimonials from satisfied customers.
“I have now been using the device for upwards of a year, and I am still thrilled with it,” says John W., a CycloTrac user. “There is nothing like the Boomerang on the market at all. It works flawlessly and gives me amazing peace of mind. I am a HUGE fan!”
For more information about Boomerang Bike, its CycloTrac system, and its equity crowdfunding campaign, visit its crowdfunding site https://www.investboomerangbike.com/.
Boomerang Bike Corp. is a group of avid cyclists whose core mission is to develop a comprehensive product line based on Internet of Things (IoT) technology to prevent bike theft.
Company Name: Boomerang Bike Corp
Contact Person: Kevin Fahrner
Email: Send Email
Phone: (408) 727-9800
Address:PlugandPlay, Boomerang Bike Corp, Mail Slot # 172, 440 N Wolfe Rd
State: CA 94085
Country: United States