The social impact of Lost and Found
A recent viral TikTok video (here it is on IG) which has gotten over 200k likes, highlights just how much visibility the lost and found process can gain with the positive and negative consequences depending on the outcome. The video shows a person who lost an item that could be at LAX, Heathrow, or on a British Airways aircraft. The real-time nature of social media means that whoever finds the item, whether an airport or airline, has an incredible opportunity to gain positive recognition from the creator’s vast audience. A smooth recovery would likely lead to a glowing shoutout, showcasing the business’s ability to handle customer issues with efficiency and care, translating into a major PR win.
Conversely, if the item is not recovered, it would be a missed opportunity and could result in negative publicity, hurting the business's reputation. This real-world scenario reflects the growing importance of having a reliable and efficient item recovery system. In an era where trust, integrity, and transparency are critical, particularly on social media, businesses need to take these opportunities seriously. Boomerang offers companies the ability to turn a potentially negative situation into a moment of delight, building trust and driving positive word-of-mouth.
Listening to customers
Boomerang charges businesses a monthly software fee, which automates the tedious tasks of lost item management. Beyond just streamlining operations, Boomerang has turned lost and found into a potential revenue stream for businesses. For items that go unclaimed, particularly electronics, Boomerang developed an innovative model where unclaimed items can be sold, recycled, or donated, with profits shared between Boomerang and the business.
Interestingly, this revenue-sharing model emerged not from internal brainstorming but through customer discovery. During conversations with clients, Boomerang learned that many unclaimed electronics were simply left behind because customers often had insurance that covered replacements. As a result, people didn’t feel the need to retrieve their lost devices. Skyler noted that this insight came directly from listening to customers during routine client meetings, where partners repeatedly raised the challenge of managing unclaimed electronics.
Instead of seeing this as just another operational issue, Boomerang saw an opportunity. In true start-up fashion, they embraced the problem and created a process that allowed businesses to turn unclaimed electronics into cash. Depending on the volume and quality of the unclaimed items, businesses could earn anywhere from “coffee money” each month to thousands of dollars from this. What started as a small-scale solution has now become a valuable part of Boomerang’s offering, proving that listening to customer feedback can lead to some of the best product innovations.
Revolutionizing Lost and Found with AI
At the core of Boomerang’s innovation is its AI-powered matching system. When an item is lost, the owner can upload a photo or description to the platform. On the business side, items that have been found are similarly entered into the system. Boomerang’s AI then scans for matches, notifying the item’s owner if a match is found. This replaces the need for numerous phone calls, emails, and manual cross-checking, a process that is inefficient and leads to human error.
Boomerang’s AI isn’t static; it’s constantly learning and improving. Over time, as more items are processed through the platform, the AI becomes better at identifying potential matches, even when the data is incomplete or ambiguous. This capacity for machine learning sets Boomerang apart from competitors, many of whom operate more like digital bulletin boards where items are listed but not actively matched.
For example, imagine a theme park where hundreds of custom stuffed animals are lost every day. Initially, Boomerang’s AI might struggle to differentiate between two similar-looking items, but as it processes more data, it learns to recognize the subtle differences in descriptions and images. The system’s ability to handle corner cases (items that are particularly difficult to identify) improves with each interaction.
Another advantage of Boomerang’s AI is its ability to handle multiple potential matches. In instances where there are several identical items lost on the same day (like popular team hats or generic car keys), the AI can flag these cases for further investigation, prompting a manual follow-up to ensure the right item is returned to the correct owner. This hybrid approach, using AI for speed and efficiency, with human oversight for edge cases, ensures both accuracy and speed.
Additionally, Boomerang has streamlined the logistics of returning items. For in-person pick-ups, there’s no cost to the customer, but for more than 60% of cases where items are shipped, Boomerang handles the process end-to-end. Customers are presented with shipping options based on speed and distance, and once payment is collected, Boomerang generates a shipping label for the business to print. This process ensures that items are returned quickly, with minimal effort to both the business and the customer.
Network effects
Boomerang’s success lies in its ability to form key partnerships with businesses across various industries. The company has collaborated with major airports, hotels, and stadiums, including Universal Studios, Madison Square Garden (MSG), Aeroporti Di Roma (ADR), and many more. The partnership with ADR, for example, will help improve the lost-and-found experience for over 40 million travelers passing through Fiumicino Airport annually.
What makes Boomerang’s model particularly powerful is the potential for network effects. As more businesses adopt the platform, the entire system becomes more efficient and effective. Much like OpenTable did for restaurant reservations, Boomerang aims to create a seamless customer experience, no matter where they lose something. The more venues that join the network, the easier and faster the recovery process becomes for everyone.
To see the network effect in action, imagine you're planning a trip to Philadelphia to go watch a Philadelphia 76ers game. You start your day by taking an Uber to Charleston International Airport, which is already partnered with Boomerang. During your day, you interact with several businesses, including the airport and, eventually, the stadium where the Sixers play. Let’s say you lose your car keys during your trip. Since both Charleston International Airport and the 76ers stadium are part of Boomerang’s network, you can easily file a claim through Boomerang’s platform. In this case, Boomerang will search both venues for your lost item. The more businesses like these that Boomerang partners with, the faster and more streamlined this process becomes.
Now imagine an even more connected future: Uber and Philadelphia International Airport join the Boomerang network. If you misplace your keys during any leg of your trip, Boomerang can conduct a cross-search across all the companies you interacted with that day (your Uber ride, both airports, and the stadium), allowing the system to quickly identify where your item was left. That’s the power of network effects: the more businesses onboard with Boomerang, the more streamlined and effective the customer experience becomes, turning what could be a stressful situation into a simple, automated process. The platform scales as it connects more venues, benefiting users by offering a faster, more accurate lost-and-found system.
Competitive landscape
No startup journey is without challenges. One of the biggest hurdles Boomerang faces is the fragmented nature of the lost and found market. Many businesses still rely on manual processes or outdated digital solutions, and convincing them to upgrade to a new, AI-driven platform takes time, education, and trust. Migrating organizations away from outdated processes requires educational support to manage the transition effectively. But once they see the boosted efficiencies, time savings, and performance of their department, they buy in. Boomerang’s 100% retention rate is impressive and is a testament to the fact that partners who join enjoy the product and see its effectiveness once implemented.
The competitive landscape also presents challenges. Boomerang is ahead in technology, but other players might attempt to copy or adapt. To stay ahead, Boomerang is focused on continuous innovation, constantly improving its AI, expanding its network, and building brand recognition to ensure that it remains the top solution for lost and found management globally.
Boomerang’s sales strategy has been a key driver of its growth. The company focuses on direct sales, targeting individual brands and operators that manage multiple properties. By demonstrating its effectiveness and the additional value it brings through improving customer satisfaction and revenue growth, Boomerang has successfully converted more than half of its clients from other software providers. The remaining new clients had not previously implemented any lost-and-found solution, highlighting Boomerang’s ability to attract businesses across the spectrum.
Growth levers
Boomerang’s growth strategy is centered on building partnerships with large organizations that manage multiple properties, such as airports, hotels, theme parks, and stadiums. This approach has already enabled rapid expansion in key verticals and explore opportunities in adjacent markets, such as theme parks, entertainment centers, and healthcare facilities.
Looking ahead, Boomerang is focused on international expansion, with recent launches in the UK and Italy proving its global potential. The company is also eyeing other regions where lost and found systems are particularly outdated, positioning itself as a leader in the global market for item recovery. Boomerang is pursuing a $16 billion item recovery global market. If an item is missing, they want to be the go-to platform to help you get it back into your hands.
Stress testing the breakthrough idea
Mike Maples Jr., in Pattern Breakers, defines the elements driving breakthrough startups: inflections—external changes that enable new behaviors; insights—non-obvious truths that leverage these changes; and founder-future fit—alignment between the founders and the future they’re building. Here’s how Boomerang aligns with this framework:
The Insight: Lost and found isn’t just a logistical burden; it’s a powerful opportunity for enhancing customer loyalty. Boomerang’s AI-driven platform elevates lost and found to a core part of customer experience, transforming it from a hassle into a strategic asset.
The different future this insight enables: Businesses will view lost and found not as an afterthought, but as an opportunity to create positive, memorable customer experiences that drive loyalty and even revenue.
Inflections enabling the insight: The rise of AI and automation is reshaping customer service across industries. Customers today demand faster, seamless interactions, and Boomerang meets this need with a tech-driven solution for a previously neglected area.
Why It’s Non-Consensus: Most businesses see lost and found as low-value. Boomerang sees it as an underutilized touchpoint for customer satisfaction and a potential revenue stream.
Why It’s Right: In industries like hospitality and travel, customers’ emotional connection is crucial. An effective lost and found system builds trust, turning one-time customers into loyal advocates.
Founder-Future Fit: Boomerang’s founders—Skyler Logsdon, Philip Inghelbrecht, and Augustine Diep-Tran—bring relevant experience and personal motivations that align with reimagining lost and found in the digital age.
Exclusive offer to Travel Tech Essentialist
‘Lost and Found’ may sound mundane, but it’s a challenge that costs billions and leaves businesses and customers frustrated. Boomerang, with its AI-driven efficiency, is reshaping this neglected area, making it easy, reliable, and even profitable. Boomerang turns lost items into new opportunities by automating what was once a logistical mess.
If your business handles lost items, joining the Boomerang network could be a game-changer. Boomerang is offering a 30-day free trial exclusively for Travel Tech Essentialist subscribers, a unique opportunity to experience firsthand how you can improve customer satisfaction, streamline operations, and unlock new revenue streams. Click here to express your interest, and I’ll notify Boomerang to extend this exclusive offer to you.
The future of lost and found is around the corner—and it might be powered by Boomerang.
