Boatsetter

Last updated

Boatsetter
TypePrivate
Industry Sharing economy
Founded2012;11 years ago (2012)
FounderJaclyn Baumgarten
Headquarters
Fort Lauderdale, Florida
,
U.S.
Key people
Michael Farb (CEO)
Website boatsetter.com

Boatsetter is an American online platform that provides boat rentals. [1] It is based in Fort Lauderdale, Florida. [2]

Contents

Boatsetter's online platform comprises over 50,000 boat listings. [3] It connects boat owners, renters, and captains across 700 distinct locations, spanning the Caribbean, Europe, Mexico, and the United States. [3]

History

Boatsetter was founded in 2012 as Cruizin by Jaclyn Baumgarten. [3] [4] In 2015, Cruzin was merged with Boatsetter. [5] [6] [7]

In August 2017, Boatsetter acquired its rival boat-sharing platform, Boatbound. [8] [9] [10] Founded in 2013, Boatbound was based in Seattle, Washington. [11] [12] It was often described as Airbnb for boats. [13] [14]

In November 2017, Boatsetter relocated from Aventura, merging its Delray Beach and Seattle teams into a new 3,200-square foot headquarters situated in downtown Fort Lauderdale. [2] [15] The relocation allowed the company to participate in the Fort Lauderdale International Boat Show, providing a platform to exhibit its services to almost 3,000 charter operators attending the event via an open house. [2]

In August 2019, Boatsetter received a Series A investment of $10 million. [16] Previously, it raised $13 million in Series A funding in December 2016. [5] [17]

During the COVID-19 pandemic, Boatsetter experienced a surge in demand for safe outdoor activities, a trend that maintained post-pandemic. [3] [18] This led to a 200 percent annual rise in bookings by July, predominantly due to an uptick in multi-day reservations, with the emerging trend of staycations also contributing significantly. [3]

In May 2021, Boatsetter expanded its operations by acquiring Fisher Guiding, a New York-based fishing charter marketplace. [19] The acquisition expanded Boatsetter Fishing service, providing user access to fishing boat charters, guides, and outfitters, thereby increasing the accessibility of angling experiences. [19]

In August 2022, Boatsetter received $38 million in a series B funding. [3]

In January 2023, Michael Farb became the chief executive officer (CEO) of the company, succeeding Jaclyn Baumgarten who was the CEO since 2014. [20]

Platform

Boatsetter is a peer-to-peer boat rental platform. [21] [22] [23]

Before onboarding, Boatsetter implements a pre-screening test for all potential renters to assure adherence to insurance, safety guidelines, and specific boat-owner criteria. [2] The platform allows qualifying individuals the option to rent boats without the necessity of a licensed captain. [2] It is customary for boat owners associated with Boatsetter to provide rental services for their vessels on a half-day, full-day, or longer customized charter periods. [2] The platform facilitates boat rentals, particularly vessels measuring between 28 and 60 feet, irrespective of user boating proficiency. [24] Additionally, the platform offers an optional service to pair renters with professional captains, licensed by the U.S. Coast Guard. [24] [18] The rental price is determined by the boat owners, while Boatsetter accrues 20 percent of the rental fee as commission. [24] Through another service called Boatsetter Lux Charters, it provides luxury boats and yachts for rent. [20]

Boatsetter has been described as Airbnb for boats. [5] [25] [26] The platform can be assessed through a mobile app. [18] [27]

See also

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References

  1. ↑ "Boating options grow — even without owning a boat". Chicago Tribune . July 31, 2015.
  2. 1 2 3 4 5 6 "Boat-sharing firm Boatsetter relocates headquarters to Fort Lauderdale". Chicago Tribune . October 31, 2017.
  3. 1 2 3 4 5 6 "Boat-sharing startup Boatsetter raises $38M".
  4. ↑ "The Best Accessory for a Boat Is a Karaoke Machine". Bloomberg . February 15, 2023.
  5. 1 2 3 Zakrzewski, Cat (December 13, 2016). "Betting on Yacht Owners to Join the On-Demand Economy". Wall Street Journal .
  6. ↑ "Shakeout hits tech startups in boat sharing, marine services". Chicago Tribune . September 18, 2015.
  7. ↑ Miami Herald (subscription required)
  8. ↑ Nickelsburg, Monica (August 18, 2017). "Boatsetter brings Boatbound aboard, acquiring Seattle-based ship-sharing startup". GeekWire .
  9. ↑ Constine, Josh (August 17, 2017). "'Airbnb for boats' startup Boatsetter buys competitor Boatbound". TechCrunch .
  10. ↑ Miami Herald (subscription required)
  11. ↑ Constine, Josh (February 20, 2013). "Introducing 'Boatbound', The Airbnb For Boats". TechCrunch .
  12. ↑ Trela, Christopher (June 26, 2015). "Banish Boat Envy—Own a Boat for a Day with Boatbound".
  13. ↑ "The Airbnb of Boats Weighs Anchor Off the Coast of L.A." Los Angeles .
  14. ↑ Weinstein, Joanna (July 16, 2014). "Start-up takes the sharing economy out to sea". CNBC .
  15. ↑ "Boat-sharing firm Boatsetter relocates headquarters to Fort Lauderdale". Sun Sentinel . October 31, 2017.
  16. ↑ Boatsetter announces $10M in Series A funding
  17. ↑ Miami Herald (subscription required)
  18. 1 2 3 Ogletree, Kelsey (July 23, 2020). "A Guide to Renting Your Own Boat, Sensibly". Wall Street Journal.
  19. 1 2 "Boatsetter makes waves with acquisition of Fisher Guiding".
  20. 1 2 Boatsetter CEO Jaclyn Baumgarten will move into new role. Here's who will succeed her
  21. ↑ In Her Own Words: Jaclyn Baumgarten navigates pandemic's rough seas
  22. ↑ Loten, Angus (October 15, 2019). "America's Got Talent, Just Not Enough in IT". WSJ .
  23. ↑ How rent everything through sharing economy The Washington Post. (subscription required)
  24. 1 2 3 "Pier-to-peer boating sharing makes a splash". Chicago Tribune . August 6, 2014.
  25. ↑ Rossingh, Danielle (February 19, 2018). "Setting sail with the 'Airbnb of the seas'". CNN .
  26. ↑ Miami Herald (subscription required)
  27. ↑ Ledsom, Alex. "Airbnb For Boats: Water-Based Sharing Apps Are On The Rise". Forbes.
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