Micromobility refers to city dwellers opting for lightweight transportation vehicles — like bikes, scooters, mopeds and more — to help them move from one place to the next. It’s a phenomena that’s transforming cities worldwide and a market that’s expected to reach $9.8 billion in revenue by 2025.
By combating congestion and gas-powered emissions, micromobility is often categorized as an eco-friendly, sustainable alternative to public transportation, cars and taxis.
Several startups have been driving the micromobility movement, including Bird and Lime. These companies offer bikes, scooters and mopeds — however, they fail to accommodate everyone.
That’s where Boaz Bikes comes in. Boaz Bikes scooters are designed differently, allowing you to sit down as you move. They feature a unique sit-down seat that lowers your center of gravity, makes for a better ride and accommodates everyone.
Why Boaz Bikes is so Convenient
Just like Bird, Lime and other top ride-share micromobility companies, Boaz Bikes is easy to use and works entirely from your smartphone. All you have to do is download the Boaz Bikes app and you’ll be able to view all its bikes within your area. From there, head over to the bike closest to you and unlock your ride by scanning the QR code provided through the app.
Unlike other micromobility companies, Boaz Bikes scooters are designed to be comfortable, convenient and top notch in terms of safety. The sit-down feature makes for a more easy-going, relaxed ride. There’s also a wider foot deck, brake lights, and built-in basket — allowing you to seamlessly transport items while you move.
Investing in Micromobility with Boaz Bikes
Boaz Bikes differentiates itself from other leading micromobility companies by offering a one-of-a-kind scooter with sit-down features.
Boaz Bikes’ cost per ride is also lower than other leading micromobility companies — while it’s revenue per ride (averaging $9.21 per ride from April through June 2021) is higher. This figure comes in at 2.5 times higher than its main competitor Bird — and while Bird is struggling to maintain profitability, Boaz Bikes is already bringing in returns in Detroit.
One of the lead investors in Boaz Bikes is a venture capitalist who was also an early Lime investor. While Lime is currently available in more cities than Boaz Bikes, the latter is quickly catching up.
At the moment, Boaz Bikes holds 3 city permits and plans to operate in 10 cities by the end of 2021. It actively operates in Atlanta, Georgia, Detroit, Michigan, and Plano, Texas. In May 2021 alone, the Boaz Bikes Detroit fleet increased by 400%. Profit per ride also grew by 283% between 2019 and 2021 — and revenue has seen a 10% to 20% boost month over month for the last 8 months. This growth is significant, especially considering the global pandemic and nationwide lockdown orders.
Boaz Bikes is currently holding a crowdfunding round and allowing investors one final opportunity to get in on the sit-down shared scooter market. Learn more about investing in Boaz Bikes here.
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