BOATSETTER AND CRUZIN MERGE COMPANIES
Two powerhouse entrepreneurs join forces to create one formidable company on the leading edge of the next big thing in the boat-sharing market.
Looking to transform the $121B marine industry, Boatsetter and Cruzin, both recognized leaders in the peer-to-peer (P2P) boat-sharing market, announced that they have merged their companies. The combined venture carries the Boatsetter name with a unified brand that incorporates the Cruzin look and feel.
Jaclyn Baumgarten is the new CEO of Boatsetter and Andrew Sturner the executive chairman. The company has headquarters in both the boating capital of the world, South Florida, and the global technology epicenter, Silicon Valley.
“The merger with Cruzin accelerates our business and boosts our appeal to our boat owners, captains and marina partners, and provides a superior experience for our customers,” said Sturner. “Together, we’re positioned to be the market leader, offering the only complete boat-sharing solution.”
The new Boatsetter offers increased capacity, capital and presence. It has the largest network of marina partnerships in the industry.
Boatsetter offers thousands of boats across the US and abroad and is the most comprehensive solution in the market. The company maintains trust and credibility by vetting all boats, owners, captains and renters. With best-in-class insurance in both US and abroad, it offers trusted, reliable and safe rentals with 24/7 on-the-water assistance. Its Captains Affiliate Network is the largest network of US Coast Guard licensed captains in the industry.
The new company combines the rental mechanics of Airbnb with the on-demand labor dynamics of Uber. It delivers a premier boating experience in which everyone wins: captains get more work, owners offset their cost of ownership and renters get luxury experiences on private and pristine boats at competitive prices.
“We’re elated about the merger with Boatsetter,” said Baumgarten. “We have remarkably complementary assets and look forward to accelerating the speed of innovation in the multi-billion dollar marine industry. We’re jumping on the burgeoning collaborative consumption movement by bringing great on-the-water experiences to the more than 80 million Millennials of the share generation who are looking to participate in something new and exciting.”
Boatsetter is led by a team of savvy entrepreneurs with strong business backgrounds in the marine and technology industries. It has created a community that connects all of the players in the boating industry. Its website is www.boatsetter.com.