In a market “ripe for disruption,” peer-to-peer boat sharing market leaders Boatsetter, of San Francisco, and Cruzin, based in Aventura, announced this week that their companies will merge, combining their brands under one name.
While the new brand has been engineered to incorporate the Cruzin look and feel, the combined entity will carry the Boatsetter name, offering increased capacity, capital and presence in the multi-billion dollar marine market and continuing to nurture a network connecting boaters, boat owners, captains and marine professionals.
Boatsetter’s new CEO is Jaclyn Baumgarten and Andrew Sturner will be executive chairman. The company will maintain headquarters in both South Florida and 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," Sturner said. "Together, we are positioned to be the market leader, offering the only complete solution in the boat sharing market."
Cruzin was founded by Jaclyn Baumgarten in 2012 as an online marketplace for renters and private boat owners. Boatsetter is a technology startup launched in 2014 as the first peer-to-peer company offering captained boats to recreational boat renters.
"We are elated about the merger with Boatsetter," Baumgarten said. "We have remarkably complementary assets and look forward to accelerating the speed of innovation in the multi-billion dollar marine industry. We are jumping on the burgeoning collaborative consumption movement by bringing great on-the-water experiences to the more than 80 million millennials of 'generation-share' who are looking for new and exciting experiences."
Matching private boat owners with renters, Boatsetter combines Airbnb-style mechanics with an Uber-style on-demand dynamic to deliver premier boating outings in which everyone wins: Captains get more work, boat owners offset their cost of ownership, and boaters enjoy luxury experiences at competitive prices.
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