Company:Boatsetter

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Short description: American online platform
Boatsetter
TypePrivate
IndustrySharing economy
Founded2012; 12 years ago (2012)
FounderJaclyn Baumgarten
Headquarters
Fort Lauderdale, Florida
,
U.S.
Key people
Michael Farb (CEO)
Websiteboatsetter.com

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

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

  • Click and Boat
  • Sailo

References

  1. ↑ "Boating options grow — even without owning a boat". July 31, 2015. https://www.chicagotribune.com/fl-boat-club-growth-20150731-story.html. 
  2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 "Boat-sharing firm Boatsetter relocates headquarters to Fort Lauderdale". October 31, 2017. https://www.chicagotribune.com/fl-bz-boatsetter-fort-lauderdale-headquarters-20171030-story.html. 
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 "Boat-sharing startup Boatsetter raises $38M". https://www.bizjournals.com/bizwomen/news/latest-news/2022/08/boat-sharing-startup-boatsetter-raises-38m.html?page=all. 
  4. ↑ "The Best Accessory for a Boat Is a Karaoke Machine". Bloomberg. February 15, 2023. https://www.bloomberg.com/news/articles/2023-02-15/the-best-boat-accessories-and-toys-from-boatsetter-founder-jaclyn-baumgarten. 
  5. ↑ 5.0 5.1 5.2 Zakrzewski, Cat (December 13, 2016). "Betting on Yacht Owners to Join the On-Demand Economy". http://www.wsj.com/articles/betting-on-yacht-owners-to-join-the-on-demand-economy-1481632207. 
  6. ↑ "Shakeout hits tech startups in boat sharing, marine services". September 18, 2015. https://www.chicagotribune.com/fl-boating-tech-consolidation-20150918-story.html. 
  7. ↑ Miami Herald (subscription required)
  8. ↑ Nickelsburg, Monica (August 18, 2017). "Boatsetter brings Boatbound aboard, acquiring Seattle-based ship-sharing startup". https://www.geekwire.com/2017/boatsetter-brings-boatbound-aboard-acquiring-seattle-based-ship-sharing-startup/. 
  9. ↑ Constine, Josh (August 17, 2017). "'Airbnb for boats' startup Boatsetter buys competitor Boatbound". https://techcrunch.com/2017/08/17/peer-to-peer-boat-rental/. 
  10. ↑ Miami Herald (subscription required)
  11. ↑ Constine, Josh (February 20, 2013). "Introducing 'Boatbound', The Airbnb For Boats". https://techcrunch.com/2013/02/20/boatbound-aibnb-for-boats/. 
  12. ↑ Trela, Christopher (June 26, 2015). "Banish Boat Envy—Own a Boat for a Day with Boatbound". https://www.newportbeachindy.com/banish-boat-envy-own-a-boat-for-a-day-with-boatbound/. 
  13. ↑ "The Airbnb of Boats Weighs Anchor Off the Coast of L.A.". https://www.lamag.com/citythinkblog/the-airbnb-of-boats-weighs-anchor-off-the-coast-of-l-a/. 
  14. ↑ Weinstein, Joanna (July 16, 2014). "Start-up takes the sharing economy out to sea". https://www.cnbc.com/2014/07/16/start-up-takes-the-sharing-economy-out-to-sea.html. 
  15. ↑ "Boat-sharing firm Boatsetter relocates headquarters to Fort Lauderdale". October 31, 2017. https://www.sun-sentinel.com/business/fl-bz-boatsetter-fort-lauderdale-headquarters-20171030-story.html. 
  16. ↑ Boatsetter announces $10M in Series A funding
  17. ↑ Miami Herald (subscription required)
  18. ↑ 18.0 18.1 18.2 Ogletree, Kelsey (July 23, 2020). "A Guide to Renting Your Own Boat, Sensibly". Wall Street Journal. https://www.wsj.com/articles/a-guide-to-renting-your-own-boat-sensibly-11595526463. 
  19. ↑ 19.0 19.1 "Boatsetter makes waves with acquisition of Fisher Guiding". https://www.bizjournals.com/southflorida/news/2021/05/10/boatsetter-acquires-fisher-guiding.html. 
  20. ↑ 20.0 20.1 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". https://www.wsj.com/articles/americas-got-talent-just-not-enough-in-it-11571168626. 
  23. ↑ How rent everything through sharing economy The Washington Post. (subscription required)
  24. ↑ 24.0 24.1 24.2 "Pier-to-peer boating sharing makes a splash". August 6, 2014. https://www.chicagotribune.com/fl-boat-sharing-rental-websites-20140806-story.html. 
  25. ↑ Rossingh, Danielle (February 19, 2018). "Setting sail with the 'Airbnb of the seas'". https://www.cnn.com/2018/02/19/sport/francois-gabart-sailing-airbnb-clickboat-intl/index.html. 
  26. ↑ Miami Herald (subscription required)
  27. ↑ Ledsom, Alex. "Airbnb For Boats: Water-Based Sharing Apps Are On The Rise". https://www.forbes.com/sites/alexledsom/2019/11/02/airbnb-for-boats-how-water-based-sharing-apps-are-on-the-rise/. 



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