Everything Boat: A globally connected maritime world
At Boatim we have a consumer-centric strategy: When building our digital products we know that our customers not only look for the best deal or innovative functionality, they expect transparency and want to be able to trust in our products and processes — they need to feel safe when selling or buying.
Building the digital maritime products of tomorrow
We will push the boundaries of technology for boaters and the boating industry. Our solutions will empower the industry to embrace a new digital era of boating, moving beyond traditional ways of connection and transactions, and providing digital solutions to long-standing business challenges.
“A long-time boater myself, I have always wondered why there was so little digital in boating. Now it is finally happening–and it is big!”Joseph Johnson, CEO
Digital products for boaters, dealers, and manufacturers
The Boatim marketplace is the first to bring data-based technology and tools to the boating industry. Already benefitting both the consumer and the dealer, we continue to see growth in boat sales.
Boatim commands a talented team of big-data, applied AI, and algorithmic solutions engineers. Strategic internal process automation is the secret to the rapid development and seamless rollout of Boatim's disruptive and intuitive boating products.
Keeping the customers' needs in focus is the key to our innovation strategy.
“With most established players around for a while, the industry is desperate for real product innovation again. Our priority at Boatim: The perfect user experience for consumers and dealers alike”Artem Loginov, Head of Product
We built a premium data-driven, peer-to-peer marketplace that includes a full digital marketing suite for dealers and sellers based on AI and data analytics. Consumer Relevance tops classical listing models with us- relevant results first- keeping lead generation at the highest possible quality level for our private sellers and professional dealers.
With our Smart Connected Inventory TM tool–the fastest, most automated inventory onboarding and management system on the market–we take out the hustle of bringing boats and yachts online and in front of a relevant, global audience, that is ready to buy.
Standardized data feeds and listing structures are central to discoverability and accessibility for eager boat and yacht buyers.
With this, dealer onboarding happens not in days or weeks, but in just a few short hours. This technology is redefining the listing standards of tomorrow.
Our ad-technology generates higher-quality leads to boost sales using dynamic pro-listings and ad-boosters across Google Search, Facebook and more.
Dealers have access to management tools and suites to allow full control over deployment of marketing budgets within Boatim, making ROI from ad-spend more transparent and visible than any other platform.
The maritime product universe, that reinvents a whole industry
The maritime sector has always pushed the boundaries of technology. In addition to our near-term product innovation, Boatim is looking to serve the entire product universe, including rental, charter, and shared ownership. We plan to offer comprehensive solutions for all the challenges ahead, making us the all-in-one stop for the maritime world.
As boats continue to push the boundaries of what's possible, we will outfit boaters at all stages with the same cutting-edge attitude. Starting with our marketplace and social community, and ultimately transforming the industry at large.
“Boating is a great lifestyle! Boatim will enable the most engaged boating community to get what they want: The latest in famous brands, the coolest boaters and all the other fun & action from recreational boating”Matthew Grady, Head of Sales
Digitizing buyer and seller verification procedures, automatic confirmation of buyer credit ratings, and the ability to close financing options enhances the boat-buying process. Our AI already draws conclusions from usage behavior so dealers can assess a potential buyer’s readiness to execute. Our next gen AI features have the potential to dramatically improve ROI for dealers and will reduce risk and effort—all the while making the process fast, secure, and convenient.
We want to serve boating’s whole value chain. Everything from lower barriers to entry for new boaters via the sharing economy, to simplifying operations while owning a boat, to opening up new ways for boat owners and resellers to monetize their assets.
Customer tools, that allow full digitization of everything boat along the consumer lifecycle: history of a boat, verifications of counterparts, pricing, financing options, insurance and service and maintenance items—of course in one user-centered application.
As first time boaters often enter the market through best-deal opportunities for buying or through charter and renting, we are addressing price sensitivity for buying with pre-qualification options for tailored finance offers and protect buyer, seller and charter with punctual insurance options.
Proven track records in scaling digital businessesBoatim has brought together a seasoned management team with entrepreneurial experience in tech startups, digital marketing, technology platforms, online marketplaces, and of course, boating.
Frequently Asked Questions
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$40bn for new and used boat sales, with an expected 3% CAGR (Compound Annual Growth Rate) for the next 8 years and $6.5bn for charter, with an expected CAGR for the next 8 years of 5%.
Historically, the average marketing spend for such sales ranged between 10-12% of those headline values, placing our initial target market for the marketplace at between $5bn-$6bn p.a.
Our own market estimate of the potential digital spending wallet is in excess of $8bn p.a. when including not only online marketing, but also the conversion of traditional marketing, and provision of additional new digital services to enhance the facilitation of these transactions.
USA and Europe make for 90% of the global market, with our priority being the US (representing 50% of the global market alone).
Our multilingual team in Barcelona is equipped to address the key European markets of Spain, France, Italy, Germany, and the UK.
Longer-term growth will be seen in centers of affluence in Asian and Middle Eastern markets, such as China, Singapore, Hong Kong, and the UAE.
We plan to extend Boatim's offer in these markets over time to secure incremental growth opportunities once we've established strong penetration in our core markets.
Various surveys estimate the total boating industry spend globally between $100-$120bn p.a. The additional segments (beyond boat selling and renting) include: finance, insurance, documentation, aftermarket services and repairs, docking and berthing, and fuel engines.
Each of these segments is underserved by digital technology today, whether it involves lead generation, matching buyers and sellers, informative services (reservations, availability, price comparison), or closed loop, fully digital transactions (including valuation, financing, insurance, warranties, contract & payment management).
Our strategy is to capture at least 10% of the digital market in the segments where we play, within 2 years of rolling out a Boatim product offer for that segment.
15 million boats in use, about 1 million pre-owned, and 260 thousand new boats sold p.a. with a market value of approximately $20 billion (Source: NMMA 2019 statistics).
140 million people went boating at least once last year in the US, 50% are under 40 years-old - 62% of boat owners have $100k p.a. HH income–plus, strong trend to more diversification on boaters ethnicities.
The entire global recreational boating market is growing steadily at 3% p.a. (source: ICOMIA, 2019)
Certain segments have seen continued strong demand, for example, retail sales for new and used outboard motorboats, which grew 14% in 2019.
The boating industry continues to grow at above-average rates compared to US and EU GDP rates, driven by an increasing proportion of High Net Worth Individuals seeking new recreational past-times.
Despite the disruption seen in early 2020 when the Covid-19 pandemic imposed severe restrictions on social activity, the boating industry has proved extremely resilient and has seen a strong bounce-back in the second half of 2020.
In response to Covid-19, many people sought out new socially-distanced activities. Boating is one of a few "safe havens" for family-friendly time, free from quarantine concerns. Since summer 2020, many dealers have reported excess demand for boats, rapid turnover of inventory, and the period January - August 2020 showed boat sales in the US up 8% compared to the previous year.
Increased boat sales in Europe have been driven by the own-to-rent market, i.e. charter companies expanding their fleets for short term rentals in response to increased demand for Mediterranean holidays away from the traditional hotels and beaches, which remain subject to Covid-19 restrictions.
Despite the general impact of the pandemic on economies globally and in the US, the recreational boating industry is amongst those which have received a huge push by it. What is more, experts foresee that a substantial number of additional first-time boaters, prompted by Covid, are now hooked with the boating lifestyle and will increase future demand for boats and services even after the current situation has been resolved.
2018: Private funding round to start software development.
2019: Moved to Florida, USA, with its prototype product.
2020: Company shares floated, acquired Barcelona team of developers into Boatim Europe S.L. and established new development hub there, hired Chief Officers for Product and for Marketing to increase market roll-out speed and scale capacities for next products, successful launch of marketplace and first Dealer marketing tools.
Core product development: Proprietary software & technology developments completed for data-driven marketplace, now working to add new products and capabilities for digitalized boating services across our different target markets.
Naturally, the earlier the development stage of a business, the higher the risk but also the potential upside. Usually, professional VC and PE investors have already snatched most of the value increase when tech company shares become publically tradable.
Following our customer relevance culture, Boatim shares are accessible early on so that investors, be they simply interested boaters or dealers, professional or private investors, might benefit from our growth trajectory right from the beginning.
The usual risks apply when investing in a young and innovative company that aims to disrupt an existing market and to further develop entirely new markets.
The actual results may vary from our projections, timelines may be longer than expected or costs may end up higher than planned.
We are reliant on qualified personnel and the right decisions made by our leadership team at the right time in order to execute on the business plan and deliver on our vision.
There are no guarantees for our share price development to continue on its recent path up in the future.
To learn more about our share and business related risks, please visit the Section "Risks Factors" in our latest annual audited Form 10-k filing with the SEC (here) and read the "Disclaimer & Cautionary Note Regarding Forward-Looking Statements" at the end of this site.
By digitalizing many of the currently offline practices in the boating industry we are poised to open up new market segments for Boatim. By introducing data-analytics driven tools and capabilities we have begun to attract dealers, sellers and customers to our disruptive platform.
Our business strategy allows for an accelerated capture of target market share, since we do not need to reinvent existing revenue models, but focus on adding substantial value with innovative capabilities. We are drawing customers to our superior platform and products.
Our proprietary software is data-centric and UX focused - Comparing Boatim with existing platforms is like comparing a gasoline engine car with an electric: Our architecture design follows Boatim´s innovative digitalized and marketing approach from its core, changing how things are done in the boating industry.
Everything Boat. A similar approach was done in the car industry which catapulted a newcomer to become the biggest player in what was before considered a saturated market, scaling its revenues to more than $500m last year and giving it a valuation of near 40x P/E or $2.6bn.
AirBnB digitalized the hospitality business, making C2C closed loop transactions possible and unlocking an entire new market segment. They have recently announced to plan their IPO - at a staggering $3bn valuation.
We aim to capture at least 10% of any target market Boatim products address within 2 years of a respective rollout.
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