Founder's Story - The Lost & Found Disruption: How Skyler Logsdon is Transforming an 8 Billion Person Problem with Boomerang | S2 Ep. 178

Episode Date: February 25, 2025

Skyler Logsdon dives into the inspiration and innovation behind Boomerang—an AI-enabled solution that revolutionizes the lost and found process across travel, sports, entertainment, and hospitality. Skyler shares his personal experiences with lost items, the brainstorming behind Boomerang, and how his co-founder, Philip Engelbrecht (a visionary behind Shazam), helped shape the idea. This conversation unpacks the challenges, technological breakthroughs, and strategic partnerships positioning Boomerang as the household name for lost items worldwide.Key Discussion Points:The inception of the Idea:How a personal hassle with lost items and the influence of co-founder Philip Engelbrecht sparked the idea for Boomerang.The concept of creating the “Shazam of lost and found” to simplify what is truly an eight-billion-person problem.Technology & Innovation:The integration of AI, image recognition, and machine learning to match detailed descriptions and photos with found items.A deep dive into how Boomerang streamlines processes for both individuals and businesses, reducing the chaos of traditional lost and found methods.Strategic Partnerships & Global Reach:How early adopter partnerships with airports, hotels, casinos, and entertainment venues helped validate Boomerang’s model.Insights into scaling the solution internationally, with recent expansions into Italy, the UK, and beyond.Business Strategy & Customer Experience:The importance of removing inefficiencies like excessive phone calls and emails in lost and found operations.How Boomerang not only boosts recovery rates but also enhances customer satisfaction and brand loyalty for businesses.Vision for the Future:Skyler’s ambition to have every lost item claim and found item uploaded to Boomerang globally.The role of continuous AI advancements in further refining the platform’s accuracy and speed.Our Sponsors:* Check out CoinFlip and use my code FOUNDERS for a great deal: https://coinflip.tech* Check out Kinsta: https://kinsta.com* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.comAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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natural disasters. Get customized coverage today starting at $19 per month at ZenSurance.com. Be protected, be Zen. Be protected. Be Zen. Hey everyone. Welcome back to Founder's Story. Today we have Skyler Logsdon, who is the co-founder and CEO of Boomerang. When I first looked at your website, I was like, this is a massive problem that I've dealt with because your company is an AI enabled company revolutionizing the lost and found across travel, sports, entertainment, and hospitality. And I can't tell you how many times that I've had to deal even recently. I was in Europe and I had lost and found and it was the biggest hassle that I've ever experienced. How do you even come up with this idea? And then how did you come up with

the solution to this problem? Yeah, Dan, I think you're not alone. I think it's really an 8 billion person problem. I've yet to find someone who I've told about boomerang and they no one's said that like I've never lost something ever. Everyone has lost something and it usually ends up and never recovering it, never finding it, usually just waste a lot of time trying to call businesses, email businesses, tweet at them, post on Facebook, Craigslist, Twitter, Reddit, Nextdoor, Ring, just casting wide and it's just never effective. So to answer your question, where did the idea come from? One of my co-founders is a man named Philippe Engelbrecht. He's a Belgian man and he is really

talented with creating ideas, but I think even more talented at solving them really well. So Philippe was the founder of Shazam, the music recognition app that was acquired by Apple for 400 million. I think Shazam is just one of the most magical companies of my generation. I've had it on my phone for gosh, 10 plus years and it's going nowhere. I will delete a lot of apps, but not that one. And so, Philippe has mentored me since I was 19 years old. We built a company together most of my 20s and it was actually at my 29th year old birthday in Cabo, Mexico, that Fleep shared this idea with me of creating the household name for Lost and Found. He's like, we should create like the Shazam of Lost and Found, a

household name where if someone loses something, they know they got to go post it on Boomerang. If you find something, whether you're a business or an individual, you know, you got to go post on boomerang and it can be a really magical solution. Just like Shazam people think wow, I didn't know the name of the song then went like this seconds later you told me it's so magical and with the technology today, you know, you can create something that is really smart, very fast and that it just feels magical for everyone involved. And so that was the initial idea of Boomerang. And that's what we've been doing for just a little over three years now. I like how you said the Shazam of, but not that it's the exact same thing, but

it's like the feeling that you get when you, when you see that or the household name status, I don't hear a lot of people using comparisons in business that way. It's not like the blank of blank, but it's a similar item. This is totally different, but I think you attached your name to something that no one else is like, I wanna be the household name of lost and found. And I think you found, what a niche man, that's incredible.

AI has been solving some amazing problems recently so how did you know okay that we need to make this an AI enabled app you know three years ago when it wasn't as such a buzzword as it is now? Yeah I think you know our whole background is building great tech we hire really incredible engineers that are cutting edge, and they're always looking for great technology out there, crash coursing it, and then learning what can we build on? What can we build ourselves? So three years ago, AI wasn't as loud as it is now,

and AI has made a lot of great advancements. And our engineers are always looking to see what out there could help improve the speed and the accuracy of a match. When someone comes to Boomerang, they tell us a lot of information. They say I lost my Apple watch. It has a cracked screen, has a yellow band, it has a passcode of 1234. I lost the MSG on Tuesday.

We have a lot of information. They also upload photos included with their claim. So now we use image recognition and machine learning to scan for Apple Watch, crack screen, yellow band, matching images at MSG on Tuesday. Oh bam, there it is. And then we show the item to the customer, hey Dan, is this your item?

Yes, no. Yes, how would you like it back? Would you like it shipped or would you like to come pick it up? Most people don't want to take the morning off of work or the afternoon off of work to come to the city or to the suburbs, go to the airport, to the hotel, to the stadium, to the theme park, whatever it is, and go find that item or go pick up the item. They'd rather have it shipped. So through Boomerang, you can pay for your own label. We generate the shipping label, give it to the business, say, Hey, hit print. And it alerts the carrier to come pick it up and off it goes.

So I think the whole experience is what makes Boomerang magical. It's not just magical for the customer, but then a headache for the person that found the item for the business or the individual that finds the item. It's a pleasant experience all around. And yes, AI can kind of, you know, there's little pieces all around boomerang that AI can, you know, make it better and it'll continue to make it better. I think we're in early days of AI and you know, we are always looking and finding ways to just what AI will improve the boomerang

experience, whether on the partner side or the loser side. Like many apps, you know, you have the businesses, like you said, the business side, and then the person who lost its side, you have to convince both of them that this is a good idea or an application that they need. I can totally, as somebody who's lost items, easily understand that this is huge for me. How did you convince the businesses though, that this was a good idea for them? As we know, not everyone is is always quick to adapt new technologies or implement things into their business, depending on the size of the corporation. But how was that process? Yeah, so I think when you go meet a business, you can quickly tell whether they're the early

adopters or they're going to be the followers. And I think when you first start your business, you get a lot of the early adopters, the ones that are always looking for cutting edge tech to automate workflow to wow their customer. That's part of their brand is doing things first. And so I think we did a great job over the past two years of being alive in the market. We rallied up those, I'd say real category leaders, the MGMs, the New York, New York's the casinos, the parks, entertainments, the airport to de Roma is like a just icon in travel. And so I think we did a great job at getting these types of businesses to come. To boomerang first as well as like universal studios in orlando and in hollywood.

They come first and you show the industry how it can be done and for universal or for any of these early adopters that joined Boomerang a couple of years ago, it's eliminate all the calls and emails for lost and found. You know, if you're a business that collects 500 items a month, a thousand items a month, we have companies that collect 16,000 items a month. Imagine without Boomerang how many phone calls and emails you used to get. That's very expensive. If you're in airport that's taxpayers dollars going towards answering a phone saying, hi what did you lose? A wallet? Okay let me go check the box. Three minutes later I can't find it just

call me again tomorrow. So for every item if you don't have boomerang that's gonna yield you three to five phone calls per item. So if you collect 10,000 items a month, that's easily 40, 50, 60,000 phone calls and emails a month for lost and found. It's a call center. So we partner with them. We say, Hey, let's get rid of that phone number, that email, just put a boomerang button on your website. We will get all the claims digitally. We're not answering phone calls or emails. We're getting the claim digitally from the customer the modern-day customer appreciates that I don't want to sit on hold I don't want to leave a voicemail. I don't want to keep calling you I'd rather just digitally submit a claim via boomerang all the time spent on item matching

Imagine you're holding on to 50 Ray-Ban sunglasses. You don't know which one was found on Tuesday, Wednesday, Thursday, which one has a little scratch. You don't know which one was found in Terminal 2, Terminal 3, Terminal 4. So I'm giving you a little bit of a glimpse into where the workflow automation is. When you implement Boomerang, you usually see a 3X plus return rate booster. That means there's 3X more customers that get back your item. I think the companies that join Boomerang are the ones that are looking for a way to wow their customers, to win over trust, to show our core values and integrity as a business. And all of that results in net promoter score booster. And it's really easy where like lost

and found is a stigma of like it never works when you actually Return someone back their wallet that has the 350 bucks in there that you left it with They write incredible reviews for your business MSG I love you guys My wallet has all my credit cards all my IDs all the cash. I Love you guys. Thank you. Can't wait to come back to the garden sometime soon. Really, this is like reviews that we feed our customers every single day because customers are truly shocked that like good people out there really exist that didn't just take

20 for themselves. They just really wonder, wow, the customer. I think everyone on Boomerang joins us because they wanna do the right thing for their customers and get the customer to fall in love even further with them. Yeah, you never expect to get it back. It doesn't matter where you are. And congratulations on these major partnerships. You had mentioned the airports, Universal Studios. I think as somebody as

they're starting out to get these type of partnerships could be major for you know for their organization for their app for their business. So if somebody is just starting out like you had done, what advice do you give in terms of being able to get these types of partnerships? Like how do you get to the decision makers, for example? Is there a strategy or something that you've used that you feel works when you're looking to get into one of these big organizations? Yeah, it's a great question.

All I know is startups. I studied entrepreneurship in college. It's not the easy path. It's not straightforward. I think you need to be willing to test your luck. You need to be willing to like, the answer is you need to figure it out. Like that's as much guidance as you sometimes have as an entrepreneur is like, I don't know, Lost and Found does not have a category leader that we can just copy whatever they did. It's not like if we wanted to start

a competitor of Uber today, like they gave you a playbook that you could follow if you wanted to. You truly have to be comfortable pioneering the way. And you know, lost and found sometimes rolls up to security. Sometimes it's customer experience. Sometimes it's chief operating officer. Sometimes we go right to the top to the CEO and they're like, this is cool. I want to know. I want to get back customers their items. For example, a CEO of an airline may get a lot of complaints about lost and found. His buddies, her buddies may actually write the CEO being like, hey, I lost my bag. It's been two weeks since I got this bag back.

So it may actually go up to the CEO sometimes and we send a cold email to him or her and it lands because he or she is hearing a lot about it. So I guess the answer to your question is like you got to figure it out depending on the business type, the business category. Maybe as high as a CEO could be customer experience manager. I like that. You got to make it happen. Yeah, that's right. You got to make it happen. You got to try. You got to do. You can't wait around. You got to go out there and and try all the things you can

to make it happen. We've heard this before with other amazing guests as well that there wasn't a secret sauce. You just really have to go make it happen. So I'm curious on when you started to scale this What were some things that you started to implement or maybe even something that you said? Oh, wow, we didn't even realize this as we started to scale I think you know you start to get emails from companies abroad that look at the US is like Hey, you guys are the innovative country.

You guys do a lot of great things first. And like, we want that. We want that in our country come expand here. And that's where you're like, wow, that's a really big business. They have a lot of items that they're finding, you know, lost and found isn't just a US problem. It's clearly a global problem and like every press article that comes out on us It will cause in bounds to come from foreign countries or like we want that here so I think that would be an example of like

Yeah, do you want to go service that demand because the demands there it's as I mentioned It's not a US only problem people lose things there. As I mentioned, it's not a US only problem. People lose things everywhere and there's countries that are really trying to get us to come there or we've already expanded their example. We expanded to Italy and we expanded to the UK recently. How do you look at global expansion? We've had people talk about in previous interviews, some of them are all about it some of them were not so much because their business wasn't ready and it ended up hurting them but how do you look at global expansion I think and the reason why this is important now I mean the world has never been such a big place and with the

internet and AI and everything it's like you can really go after many people but we we know it can be hard. It can put a lot of pressure on your company. It could be a detriment or it could be a savior. How do you look at global expansion? Yeah. So I think a lot about the business open table. I think selling open table 15 years ago to get a restaurant to stop answering the phone and then writing on their pen and paper saying table for two John Smith 730 and then answer the next phone oh nope table for two 730s already taken up I can sit you down in a week though how about at 430 oh you don't want 430 all right can't help you then so I think it was really hard to sell OpenTable back then.

But I think, you know, eventually once they got a big chain on or a marquee restaurant, like a Nobu or something like this, then the rest eventually just followed. I love learning a few words before traveling. It's opened up doors to new friends and unforgettable experiences, all thanks to Rosetta Stone. This isn't just any language tool. It's the leading program on desktop and mobile, immersing you naturally in your chosen language with an intuitive design. You learn like you learned your first language through real conversations without endless memorization.

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Easy! Just use Indeed. Stop struggling to get your job post seen on other job sites. With Indeed Sponsored Jobs, your post jumps to the top of the page for your relevant candidates, so you can reach the people you want faster. According to Indeed data worldwide, Sponsored Jobs posted directly on Indeed have 45% more applications than non-sponsored jobs. There's no need to wait any longer. Speed up your hiring right now with Indeed.

And listeners of this show will get a $100 sponsored job credit to get your job's more visibility at Indeed.com slash podkatzca. Just go to Indeed.com slash podkatzca right now and support our show by saying you heard about Indeed on this podcast. Terms and conditions apply. Hiring Indeed is all you need. I think now if you start a restaurant and you're not on open table, you look kind of silly, you look archaic, you look like a dinosaur and every, I would get upset if my favorite restaurant that just opened up is not on open table. And so that's the ambition that I have for Boomerang. It's like our work is

not done until every single business around the world that finds an item is uploading it to Boomerang. If there's one, you know, airport or airline in Ireland or the UK or I don't know, Saudi Arabia that's not on Boomerang, my work's not done. Because what people deserve is one household name that has all of the lost items there. Just like Shazam, if you go like this and you're trying to match a song and it says song not found, they take that personal.

They wanna give you, anytime you try to Shazam a song, Shazam wants to deliver that for you I want to do the same thing for boomerang. So to answer your question, I Want every single found item to go up to boomerang and I want every single lost item claim to come to boomerang and when that's Done, my work is done. Sounds like the next billion dollar company. I can't wait For you to come back in a year, two to three, four years, when you have every item in the world lost and found.

And I'm gonna say, you know what? I spoke to Skyler that day. That day I spoke to Skyler. He said, every item lost and found will be on this platform. I've never heard of something, another company that does this. So you really are creating a category, a huge thank you for sharing everything today. If you want to get in touch with you, maybe it's a company they need your service or

somebody who, who doesn't want to go through lost and found in the future without boomerang. How can they do so? Send me an email. Skylar S K Y L E R at thanks boomerang.com. Skylar, this has been great. And thank you so much for joining us today on Founder's Story. Send me an email, skylerskyler at thanksboomerang.com. Scott, this has been great. And thank you so much for joining us today on Founder's Story. Thank you for having me, Dan. You just realized your business needed to hire someone yesterday.

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