Press release -
GetMyBoat Exceeds $158MM ARR
Global Boating Marketplace Experiencing Record Growth Ahead of Busy Summer Season
FOSTER CITY, CA on May 12th, 2021- GetMyBoat, the world’s largest boat rental and water experience marketplace, has reported record business growth in 2021, further building on the success that the company experienced last year. From January through April 2021, GetMyBoat achieved 700% year-over-year growth, with the rate accelerating each month as restrictions started lifting from the pandemic. The company also added that the growth has been entirely organic.
GetMyBoat is currently reporting an annual run rate (ARR) in excess of $158MM, putting the company on pace to send over one million people boating before the end of 2021. There has been a dramatic surge in demand for water experiences, which has led to customers confirming boat reservations every few minutes on the platform. To meet renter demand, GetMyBoat has also brought on thousands of new boat operators and is helping them find new customers and grow their boat fleets. The company expects bookings to double during the busiest summer months.
"2021 is off to an incredible start with tremendous, pent-up demand. There has always been a significant desire for boating experiences, but last year really amplified the need for customers to get out on the water quickly, easily, and safely,” commented Bryan Petro, Chief Operating Officer (COO) for GetMyBoat. "Due to travel limitations and lockdowns that continue in other parts of the world, I’m excited to say we have not yet come close to tapping our full potential. Many global markets are still at least partially closed, and we expect that our business will further increase in the coming months as more locations ease restrictions."
With summer approaching in the United States and Europe, the demand for local, outdoor experiences is booming. With the majority of the world’s population living near the water, the GetMyBoat community can enjoy water activities without traveling far from home. For people who are taking advantage of opening travel markets, boating is the perfect activity for staying isolated from crowds while enjoying a new place. The ease of access to boating experiences through the GetMyBoat platform has brought much-needed relief to many people during the past year of uncertainty.
Note for editors:
GetMyBoat is supported by partner and strategic investor YANMAR with the joint aim to enable more people to enjoy experiences on the water and drive growth in the boating industry.
For more information, please contact:
Senior Marketing Specialist, Global Marketing Marine
YANMAR MARINE INTERNATIONAL B.V.
Tel: +31 (0)36 5493225
Tel: +44 (0)1202 669244
GetMyBoat launched in 2013 in the San Francisco Bay Area and has grown to be the world’s largest boat and watercraft experiences marketplace. With more than 130,000 listings in 184 countries and over 9,300 locations, there's something for everyone, worldwide. The user-friendly platform is available online and on mobile apps for both iOS & Android.
A leading supplier of innovative engines and technology-driven marine propulsion systems, YANMAR Marine International (YMI) supplies the world’s cleanest, most efficient, reliable and durable diesel engines for the recreational sector – both sailboats and powerboats – and light duty commercial applications. Its trusted range of common rail marine diesel engines encompass an output range from 40 mhp to 640 mhp, the most comprehensive offering available from any marine engine manufacturer. Committed to the development of advanced technology for the best and most sustainable solutions to meet the evolving needs of boat owners and OEMs, YMI’s mission is to enhance the entire boating experience for all its customers. YMI continues to grow its network of service centers worldwide and build on its enviable reputation as a complete systems provider and marine industry ambassador with new partnerships, co-operations and investment.
Based in the Netherlands, YMI is incorporated within YANMAR’s global operations, spanning seven business domains on land and at sea. With its beginnings in Osaka, Japan in 1912, YANMAR went on to become the first company to succeed in making a compact diesel engine of practical size in 1933. With industrial diesel engines as the cornerstone of the business, YANMAR has continued to expand its range of products, services and expertise to deliver total solutions as a diesel engine and equipment manufacturer, providing small and large engines, agricultural machinery and facilities, construction equipment, energy systems, marine engines, machine tools, and components.