Most electric skateboard companies that have permanently stopped operating over the years aren’t well-known at all. Their products are generally subpar and not worth anyone’s money. That’s why e-skate enthusiasts couldn’t care less about a small short-term company going out of business.
However, there were two big names in the electric skateboarding industry that had triggered violent reactions after their unfortunate announcement.
Boosted and Inboard were considered by most enthusiasts to be the best e-skate manufacturers. Skaters around the world were more than willing to spend hundreds or thousands of dollars on their products. So, what happened?
Why Boosted and Inboard Go Out of Business
Boosted
Overview
The main reason why Boosted was the best when it comes to manufacturing electric skateboards was its sense of innovation. Its designs were also user-friendly to ensure total control for safer and more enjoyable rides.
The three founders were engineering students from a prestigious university. So, it’s no surprise that the company’s products were trendy, convenient, and superior in quality. Unfortunately, the company started laying off a lot of its workers and looked for a buyer in the early half of 2020.
The Factors
The first major problem of the company was the recall of a certain batch of units. It started when one user published a video online of a Boosted electric skateboard releasing smoke and a toxic smell due to an overheating battery, according to an interview by Gizmodo. As expected, it went viral.
At first, everything went well because the CEO, Sanjay Dastoor, personally met with the Boosted user and fixed the whole dilemma. But, when another unit experienced the same thing, the company decided to announce a recall.
The company also explained the root cause of the problem in general. What happened was that there was an issue with quality control. The temporary end of the production occurred during the Christmas season, which had a significant impact on Boosted’s sales.
The Main Reason
Boosted managed to overcome the challenges of the recall issue. However, Dastoor decided to give up his title. The new CEO was Jeff Russakow.
Russakow was determined to make Boosted successful again. So, he negotiated with several investors to develop, create, and produce a new product. It was going smoothly until former U.S. President Donald Trump declared that there would be a trade war with China.
That was a much bigger problem than the product recall because it could directly affect production and budget. Boosted products were made in China.
Boosted was supposed to be excluded, but that didn’t happen right away. This affected payment to the vendors, which led to huge debts.
Ultimately, many employees were forced to leave the company. Even the executives left one by one.
The Result
A few celebrities and large companies have expressed their interest in buying Boosted. If somebody finally buys the company, anything can happen. The loyal fans of the brand might be able to see new products similar to Boosted electric skateboards again someday.
Inboard
Overview
Inboard was an e-skate startup from California. It was expected to be as popular as Boosted, so enthusiasts had high hopes. But, it’s now selling its assets due to problems related to investments. Its employees were laid off as well.
The problems of Inboard started when it decided to launch a different type of product.
The Factors
Inboard’s goal after the company’s success in the e-skate industry was to launch a new electric scooter. The move made sense since e-scooters were always compared to electric skateboards[Electric Skateboard vs Electric Scooter].
According to an interview by the Verge, the founder Ryan Evans wanted to focus on a massive bulk purchase from a popular scooter operator in Europe instead of selling individual units to the masses.
The Main Reason
However, for some reason that surprised Evans, the investors decided to liquidate the company’s assets instead despite meeting the expected goals. There was even a rumor of debt when an email was sent to different people about whether or not there was proof of money owed by Inboard.
The Result
Some assets of Inboard were controlled by Sherwood Partners, a firm hired to liquidate the company. Fans of the startup felt the impact of the manufacturer going out of business after the official website disappeared and the customer service contact details couldn’t be contacted anymore.
Electric Skateboard Companies 2021
Based on popular forums and groups about electric skateboards[Popular Electric Skateboard Forums & Groups], enthusiasts are still disappointed about the end of Boosted and Inboard. However, there’s a growing list of e-skate companies that are thriving nowadays.
Evolve is one of the best e-skate companies right now. It has the most expensive electric skateboards, but the quality is second to none.
One of its products is a top powered skateboard from the GT series with a dual motor that can generate 3,000 watts in total. Its deck is also made of flawless materials, just like any other Evolve e-skate.
A few Chinese e-skate manufacturers have also proved that not all China-made products have subpar quality. Meepo, Exway, TeamGee, and WowGo continue to manufacture very affordable electric skateboards with impressive features.
As of this writing, other brands that have caught the attention of e-skate enthusiasts are Acton, Backfire, Blitzart, Caroma, Hiboy, Mellow, and Skatebolt.