Boosted lays off ‘significant portion’ of its employees

Photo by Amelia Holowaty Krales / The Verge

Boosted, the company that basically created the market for electric skateboards, has laid off a “significant portion” of its roughly 130-person team amid a serious cash crunch. Boosted’s CEO Jeff Russakow and CTO John Ulmen said in a blog post on the company’s website that the “Boosted brand will continue to pursue strategic options under new ownership.”

“We understand this news will come as a surprise to many of you, but unfortunately, developing, manufacturing, and maintaining electric vehicles is highly capital-intensive, and over the last year-and-a-half our business has faced an additional unplanned challenge with the high expense of the US-China tariff war,” Russakow and Ulmen wrote.

Boosted has struggled financially since…

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