How to invest in Boom Supersonic pre-IPO
While a lot of aerospace startup attention has been focused on companies like SpaceX that are rocketing out of the Earth's atmosphere, there have also been some innovative companies in recent years focused on commercial aviation, such as Boom Supersonic.
Since starting over a decade ago, Boom Supersonic has been developing technology and testing flights to try to reintroduce commercial air travel at supersonic speeds — meaning faster than the speed of sound, a milestone reached late January.1 The goal is to fly about twice as fast as commercial airplanes do today, while running on 100% sustainable aviation fuel (SAF).2
While the company has had some setbacks, such as in finding an engine supplier, it raised over $100 million toward the end of 2024 from high-profile investors such as LinkedIn co-founder Reid Hoffman and OpenAI co-founder/CEO Sam Altman. Although this was a down round, CEO Blake Scholl wrote on X that the funding round was effectively a new Series A and put the company in a better financial position. The money will help the company develop its own engine called Symphony.3
Still, it remains to be seen if Boom will be able to meet its ambitious goals, namely using its flagship aircraft, Overture, to carry passengers by 2029 in partnerships with airlines such as American Airlines and United Airlines.4
Amidst these developments, you may be wondering whether you can get in on the action as an investor. For now, Boom has not announced any plans for an IPO and it seems to be in a relatively early startup stage, considering its last funding round was characterized as a new Series A.
Still, accredited investors could potentially invest early in Boom if shares from existing investors become available through a secondary marketplace like Forge, while unaccredited investors might find that they can gain some indirect or related exposure through publicly traded securities.
Here, we'll take a closer look at how to invest in Boom Supersonic stock pre-IPO.
Boom Supersonic: Company background
Boom Supersonic started in 2014 and is headquartered in the Denver area. The company was founded by Scholl, who serves as CEO, and whose background includes co-founding a mobile technology startup, Kima Labs, which was sold to Groupon in 2012.5
The company is trying to reintroduce commercial supersonic flights, something that was previously achieved by the Concorde airliner used by British Airways and Air France from 1976-2003. However, the Concorde had issues, such as in terms of getting the economics of high-speed travel to work and regaining consumer confidence after a deadly crash in 2000.6
Boom, however, is aiming to make supersonic flights more sustainable from both an economic and environmental perspective.
"Technology and materials have advanced enough that we can build faster and more efficient supersonic airplanes while taking care of the planet. Additionally, business and leisure travel has continued to grow, and travelers are willing to pay for speed," notes Boom.
For example, the plane is designed to run on 100% SAF, and Boom has partnered with Dimensional Energy to purchase up to 5 million gallons of SAF (made by recycling carbon dioxide) annually for its Overture test flights.7
Yet whether Boom's goals will become a reality is up for debate. One limitation is that the plane likely has to fly over water to reach top speed, due to noise issues over land at supersonic speeds. That limits routes, and as travel expert Gary Leff wrote in his blog, View From the Wing, the recent down round and funding engine development on its own is indicative of a larger problem:
"They couldn’t get any of the big engine manufacturers to bite, because no one thinks this project will succeed commercially," he wrote.8
Still, that's one person's view, and it's possible that Boom's ambitions — along with those of its early investors — will pan out.
Boom Supersonic stock and funding history
Boom has not quite had a traditional venture-backed startup trajectory in terms of steadily progressing through primary funding rounds, but it has raised significant capital from prominent investors over the years.
In 2017, the Boom Supersonic Series A raised $33 million from 8VC, Caffeinated Capital, Palm Drive Ventures, RRE Ventures, and Y Combinator’s Continuity Fund.9 Later in 2017, Boom agreed to a strategic partnership with Japan Airlines, which included the airline investing $10 million in Boom.10
In 2019, Boom announced that it closed its Series B, raising $100 million in a round led by Emerson Collective.11 The company then closed its Series C in 2021, raising another $110 million.12
In 2023, Boom announced it received strategic investment from the NEOM Investment Fund, the investment arm of Saudi Arabia's futuristic NEOM development project. That brought the company's total funding to that point to over $700 million.13
By 2024, however, the company had somewhat of a reset. While it raised another $100 million, CEO Scholl said that it was a down round that essentially acted as a new Series A.14
As of the latest funding, Boom's valuation is $429.33 million.15
How to buy Boom Supersonic stock
Because Boom Supersonic is still a privately owned company, the stock is not for sale to the general public. If Boom eventually conducts an IPO, then Boom stock would be more readily available.
For now, investment is limited to those the company partners with for primary funding rounds or strategic investments, such as some high-net-worth individuals, venture capital firms, and other companies. Also, accredited investors could potentially buy Boom Supersonic stock through a secondary marketplace such as Forge if existing investors decide to/are able to list shares for sale.
Who can invest in Boom Supersonic pre-IPO?
To invest in Boom Supersonic pre-IPO, much like with any other private company, you typically have to either be an institutional investor or high-net-worth individual selected to participate in primary funding rounds or be a strategic partner. That said, accredited investors who can find stock for sale on a secondary marketplace, such as Forge, could potentially buy Boom Supersonic stock, pre-IPO, subject to availability.
However, sometimes private company shareholders like employees or early investors list pre-IPO stock for sale on a secondary marketplace, such as Forge. In those cases, accredited investors — those who meet certain financial or professional qualifications — could potentially invest in Boom Supersonic stock pre-IPO, subject to availability.
Where to buy pre-IPO Boom Supersonic stock
As of now, Boom Supersonic stock is limited in terms of who can buy in and where. However, accredited investors may be able to buy pre-IPO stock through a secondary marketplace such as Forge, subject to availability. That would require existing Boom Supersonic shareholders to list on Forge, so there could be opportunities at times, while in other cases there might not be any secondary shares for sale.
That said, those who are interested in investing in startups such as Boom Supersonic pre-IPO may wish to create an account with Forge and speak with a Private Market Specialist to stay informed about whether pre-IPO Boom Supersonic stock becomes available through Forge.
Alternatives for unaccredited investors who want to buy Boom Supersonic stock
Although retail investors cannot buy pre-IPO shares through a secondary marketplace like Forge, there can be other ways for the general public to get some indirect or related exposure to Boom Supersonic.
For one, investing in the publicly traded stock of airlines that have partnered with Boom, such as United Airlines and American Airlines, or a Japan Airlines ADR if investing in the US, could provide some exposure. However, these companies' stock prices are dependent on far more than just what happens with Boom, so this would only provide slight exposure.
Another option could be to invest in other industrial companies that have partnered with Boom, such as Northrup Grumman and Honeywell. Yet this too would provide minimal exposure while opening you up to other risks/rewards of these companies.
Buying stocks of other aerospace companies like Lockheed Martin or aircraft manufacturers like Boeing or Airbus could also provide some correlated exposure in the sense that if commercial travel expands, that could be a rising tide that lifts all boats…or planes in this case. These other companies might compete with Boom Supersonic in some ways, but it's possible that their stock prices will move in similar directions based on market developments. Still, these companies also have exposure to areas that Boom does not, such as traditional commercial aviation.
How to analyze Boom Supersonic stock
In general, financial data on private companies like Boom is much more limited than what's available for public companies. So, analyzing the company and trying to determine what you think is a fair Boom Supersonic stock price can be tricky.
However, looking at the funding history and comparing Boom Supersonic's valuation with other startups trading on private marketplaces like Forge could provide some direction. Looking at the valuations of publicly traded aerospace companies might provide some clues too, but because Boom is early in development and much remains unknown regarding commercial viability, a lot of the stock analysis is likely speculative.
Get started investing in Boom Supersonic on Forge
If you want to invest in Boom Supersonic pre-IPO if/when shares become available, create an account with Forge Markets to access our deep marketplace of private market securities.
When you create a free account, you'll be connected with a Forge Private Market Specialist to determine your eligibility, and from there you can potentially buy and sell private market shares in Boom Supersonic and other startups.
Forge stands out for its transparency into what can otherwise be an opaque private market, and as a publicly traded company itself, Forge provides a regulated, proven way to invest in the private market.
FAQs about investing in Boom Supersonic
Where do I buy Boom Supersonic stock?
Investing in Boom Supersonic pre-IPO is generally limited to those chosen to participate in primary funding rounds, such as venture capital firms, as well as some strategic partners. However, accredited investors could potentially find shares for sale through a secondary marketplace such as Forge, depending on if existing shareholders list there.
Who can invest in Boom Supersonic?
Investing in private companies such as Boom Supersonic is largely limited to institutional investors like venture capital firms, high-net-worth individuals, and companies selected as strategic partners or primary funding round investors. Accredited investors can also potentially invest in private companies like Boom through a secondary marketplace such as Forge, subject to availability.
Who are Boom Supersonic's competitors?
Boom Supersonic's competitors include some other supersonic flight startups, such as Space Transportation and Spike Aerospace, though their approaches differ somewhat. The company also faces competition from traditional aviation companies, such as manufacturers like Boeing and Airbus, especially if customers prefer to travel on these aircraft.
$429.33MM
