The company specializing in electric scooters Lime is recovering the assets of the start-up Boosted. From the latter, which had focused on the development of electric skateboards, Lime acquired five patents on April 15.
Former Boosted employees also said that Lime has been working since late 2019 to acquire Boosted's intellectual property.
Employees come to Lime
These employees made their statements to the editors of The Verge, which reports that " shortly after the publication of this article, the co-founder and former P.D.-G. from Boosted Sanjay Dastoor – who left the company over a year ago – posted a message on Boosted's subreddit "
The former leader said: " Lime purchased all of the company's assets and intellectual property. As far as I know, this includes design files, software and code, diagnostics, parts and test equipment " He adds : " Lime also appears to have taken possession of everything at Boosted's headquarters in Mountain View, including access to the building "
At the moment there are a few employees left at Boosted, and according to The Verge, it is " not clear »That the company will take over the entire team. But for now, at least five Boosted employees have already moved to Lime. Among them, and according to data collected on LinkedIn, there is a mechanical design engineer who is currently working on a seated electric model, as we have seen at Juiced or Super 73.
Debt in millions of dollars
The end of Boosted is therefore recorded. The first signs appeared last year, when the company registered its first defaults with its suppliers, an accumulation of complaints on the part of its customers as well as the departure of its executives. Also affected by the Trump administration's economic war, the company said in early March that it was laying off most of its employees and looking for a buyer. According to the two employees, who made their statements to The Verge on condition of anonymity, Yamaha made a proposal last year, but it was turned down.
The exact amount of Boosted's debt remains unknown, but it is estimated to be in the millions of dollars. Some of its suppliers have already started to sue the company. One of them launched an action in early March, demanding more than $ 55,000 in unpaid bills. Since March 30, Boosted has also been pursued by the creative agency Underbelly, which has redesigned its website. She claims 80,000 dollars from him.
But for Lime, who recovers the scraps of Boosted, everything is not rosy either. Faced with the coronavirus, the company announced the suspension of its service in 23 countries.
Source: The Verge