Startups navigate foreign waters in the yacht sharing industry
Let’s face it, unless you’re Jay-Z or a rich pirate, most yacht-owning people spend only a fraction of their year at sea.
According to The Economist, French yachts, on average, set sail no more than 10 days a year, and in America, a $12m yacht leaves port for only 2 weeks on average.
And, naturally, companies have emerged to capitalize on these pristine poop decks.
But, don’t call them ‘the Airbnb of yachting’
Airbnb wishes they could be so bold…
In Europe, a French firm aptly named Click&Boat navigates these uncharted waters from a barge on the Seine in Paris with 70 employees. C&B’s fleet of rentals has grown to 22k and they’re already profitable on 15% commission per craft.
Stateside, 6-year-old, Miami-based Boatsetter has raised $17m in VC funding and floated over 26k rentals.
Despite maritime laws dropping anchor…
Both firms are moving full steam on building out their operations.
Boatsetter, for one, has been gobbling up budding rivals (both firms have bought numerous competitors) and launching new products, like boat insurance for peer-to-peer rentals.
Get news (like this) delivered by email every morning