Cold sweat. Hair raising on the back of your neck. A zap of electricity through the brain. All the things associated with the split-second feeling when realizing you just lost something valuable. Everybody, I mean *EVERYBODY*, has been there. For many of us, it is followed by a frantic state, or worse, a bout of depression or anger.
Lost and Found (or rather: not finding) is a big and costly problem, begging for a solution. Americans spend $2.7B annually in replacing lost items. The true cost is higher since it also poses a customer service burden on businesses, large and small. For example, DisneyWorld collects 500 to 1,000 items per day. Handling the claims, storing the items, and returning them to visitors is a huge and costly distraction. If done so inadequately, it tarnishes the customer experience, customer loyalty and inevitably the brand.
Boomerang as a solution. When Philip lost his phone in a Las Vegas nightclub in 2017, he envisioned technology to complete the classic problem + solution framework. After socializing the idea with Augustine and myself on a trip to Cabo (picture left – Corona haircuts included), Boomerang was born.
Boomerang is a technology-powered service that collects, stores, and returns lost valuables to their owners.
The Boomerang vision. A worldwide marketplace between people and businesses where lost & found are brought together in a magical experience. Nobody ever loses anything ever again. No more sudden moments of panic; instead an instant confidence that your item will get Boomeranged back to you.
Our product. Since this Summer, Boomerang engineers, product managers and designers have built the beta product. In this first phase, Boomerang functions as the trusted outsourced partner for lost and found in businesses, events, and venues. Our software tracks items from the instant they are found to the (happy) moment of return. We leverage mobile app technology in day-to-day operations (handy!), and web for everything else (e.g reporting & analysis). At the same time, our service removes the burden for businesses to store lost items or deal with customer inquiries. Boomerang will be announcing its initial flagship partners as we enter 2022.
All-star investors backing our mission: We are excited to announce our first round of investment, backed by an all-star team of strategic investors that includes GGV Capital, Monta Vista Capital, and Unanimous Capital, and the remainder of the names in our round we will tell ya’ later ;). They are wildly impressive people and leaders; above all, they share our vision and passion to smash lost and found, once and for all.
Join Boomerang! Augustine, Philip and myself are entrepreneurs at heart and have solved big problems at other companies such as Shazam, TrueCar, Tatari, and YourMechanic. We are looking for people who share our vision around lost & found; people who will have an early impact on Boomerang. We are hiring across all departments: engineering, product management, design, etc. (our openings can be found here). Or just email me at Skyler at thanksboomerang dot com to learn more.
Let’s get this done.
Skyler Logsdon
CEO of Boomerang
