Boatsetter and Cruzin Merge Companies - Look to Transform $121 Billion Marine Industry

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Sep 15, 2015, 12:30 ET

SAN FRANCISCO and AVENTURA, Fla., Sept. 15, 2015 /PRNewswire/ -- Boatsetter and Cruzin, both recognized leaders in the peer-to-peer (P2P) boat sharing market, announced today that they are merging their companies. The combined company will carry the Boatsetter name but the brand has been merged to incorporate the Cruzin look and feel.

Photo - http://photos.prnewswire.com/prnh/20150914/266333
Photo - http://photos.prnewswire.com/prnh/20150914/266334LOGO

Jaclyn Baumgarten is the new CEO of Boatsetter, and Andrew Sturner the executive chairman. The company has 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," said Andrew Sturner, executive chairman, Boatsetter. "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 and launched in 2012 when she created the premier online marketplace for renters and private boat owners. Boatsetter is the technology startup that that has been disrupting the multi-billion dollar marine industry since it launched in 2014 as the first peer-to-peer company offering captained boats to recreational boat renters.

The boating industry is ripe for disruption. The new Boatsetter will offer increased capacity, capital and presence in the market with its success relying on continuing to build an ecosystem that connects boaters, boat owners, captains and marine industry professionals – with the largest network of marina partnerships in the industry. The company has created a trusted environment that affords everyone, regardless of their boating experience, the ability to enjoy boating anytime, anywhere.

ASSETS, SERVICES AND SYNERGIES

Fleet Inventory: Boatsetter offers thousands of boats across the US and abroad and is the most comprehensive solution in the market
Marina Partnerships: Largest network of partnerships in the market with over 160+ marinas
Captains Affiliate Network: Largest network of US Coast Guard licensed captains in the industry with thousands of captains registered
Trusted, reliable and safe with on-the-water towing and assistance 24/7
Best-in-class insurance in both US and abroad
Owners, captains and renters have the opportunity to thoroughly vet each other's credentials
Team has very strong ties to the US boating community - leaders on numerous associations and boards

"We are elated about the merger with Boatsetter," said Jaclyn Baumgarten, CEO of Boatsetter. "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."

Boatsetter is led by a team of savvy entrepreneurs with strong business backgrounds in the marine and technology industries and has created a community that connects all of the players in the boating industry. The company is looking forward to being the "go-to" destination for anyone who wants to get out on the water.

ABOUT BOATSETTER

Headquartered on both coasts, San Francisco and South Florida - the boating capital of the world. Boatsetter matches private boat owners with renters seeking great on-the-water experiences. Boatsetter merged with Cruzin in September 2015 creating the category leader by offering the only complete solution in the P2P boat sharing market. Boatsetter combines the rental mechanics of Airbnb with the on-demand labor dynamics of Uber to deliver a premier boating experience in which everyone wins: Captains get more work, boat owners offset their cost of ownership while their boats get the necessary regular exercise, and boaters get easy-living luxury experiences on their own private and pristine boat at competitive prices. Boatsetter has thousands of boats, the largest network of marina partners in the country, the largest network of captains and offers the best insurance and on-water assistance in the business. To learn more about the company, please visit: https://www.boatsetter.com/boater-life/cruzin-merges-with-boatsetter/.

MEDIA CONTACT
Amy Bonetti Price, 415-407-9008, Email

SOURCE Boatsetter