Skip to main content

Boat-rental companies Boatsetter and Cruzin merge

Looking to transform the $121 billion marine industry, peer-to-peer boat-sharing companies Boatsetter and Cruzin recently merged.

Looking to transform the $121 billion marine industry, peer-to-peer boat-sharing companies Boatsetter and Cruzin recently merged.

The companies said 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 is executive chairman.

The company has headquarters in South Florida and Silicon Valley in California.

"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," Sturner said in a statement. "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, and the company says it has the largest network of marina partnerships in the industry.

Boatsetter offers thousands of boats across the United States and abroad. It also offers a Captains Affiliate Network, which is made up of Coast Guard-licensed captains.

The new company combines the rental mechanics of Airbnb with the on-demand labor dynamics of Uber.

"We're elated about the merger with Boatsetter," said Baumgarten, formerly the CEO of Cruzin. "We have remarkably complementary assets and look forward to accelerating the speed of innovation in the multibillion-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."

Related

CRUISERS

Industry Mourns Cruisers Yachts Owner

K.C. Stock, who was 84, was known for his “commitment to the employees at Cruisers Yachts.”

GRANDBANKS

Grand Banks Purchases Florida Property

The parcel, which is opposite the company’s Stuart yard, has berths for up to nine boats and will increase service capabilities.

LIMESTONE-Q3

Limestone Boat Co. Posts Q3 Results

Unit production was down compared with the second quarter, and revenues decreased 33%.

SIREN-YAMAHA

Yamaha Dealers Now Carry Siren Systems

Siren Marine’s “Connected Boat” technology can be purchased and installed at more than 2,100 Yamaha outboard dealers.

Northpoint

Northpoint Expands Marine Presence

Northpoint Commercial Finance has partnered with Elite Recreational Finance to offer retail financing.

BRP

BRP Reports 71% Increase in Q3 Revenues

The Sea-Doo manufacturer had total revenue of $2.7 billion, but North American marine retail sales were down 47%.

Airmar

Airmar Announces Training Dates

Certified Installer and SmartBoat system classes are being held this month in New Jersey and next year in New Hampshire.

Norm

The Survey Says …

Surveying customers to find out what they think about your business has never been more important.

1_MDI

Marine Development Inc. Changes Hands

Mick Webber, the former president/CEO and owner of HydroHoist, has purchased the company from its founders.