Boatsetter

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

Boatsetter
TypePrivate
IndustrySharing economy
Founded2012 (2012)
FounderJaclyn Baumgarten
Headquarters
Fort Lauderdale, Florida
,
U.S.
Key people
Michael Farb (CEO)
Websiteboatsetter.com

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

References
  1. "Boating options grow — even without owning a boat". Chicago Tribune. July 31, 2015.
  2. "Boat-sharing firm Boatsetter relocates headquarters to Fort Lauderdale". Chicago Tribune. October 31, 2017.
  3. "Boat-sharing startup Boatsetter raises $38M".
  4. "The Best Accessory for a Boat Is a Karaoke Machine". Bloomberg. February 15, 2023.
  5. 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. Ogletree, Kelsey (July 23, 2020). "A Guide to Renting Your Own Boat, Sensibly". Wall Street Journal.
  19. "Boatsetter makes waves with acquisition of Fisher Guiding".
  20. 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. "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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