GetMyBoat Exceeds $80MM ARR with Spike in Demand for Boat Rentals
Global Watercraft Marketplace Experiences Record Bookings for July
GetMyBoat has seen 3,900% growth from April through July, with a surge in demand resulting in a rental reservation confirmed every few minutes. The company also reported over an $80M ARR (annual run rate). All of this was achieved despite only 60% of boating markets open with many popular global destinations closed to travel and leisure activities.
"When the stay at home order was put in place back in the spring (here in the US), our business dropped off a cliff and hit bottom. In May, however, we saw a huge rebound in business, and by July, we experienced 3,900% growth from our April lows. With boating being a great activity for family fun while practicing social distancing, we have seen a surge in interest and corresponding bookings," commented Bryan Petro, Chief Operating Officer (COO) for GetMyBoat. "We had already been having a banner year due to the maturation of the platform, including being featured as Apple's App of the Day, but these results have exceeded all expectations."
A contributing factor to this growth is the decline of travel on a global scale leading to a demand for local experiences. The COVID-19 pandemic has forced the global population to reconsider their travel and leisure plans for summer 2020 and beyond. Local, outdoor experiences, like boating and renting personal watercraft, have boomed in popularity. The ability to enjoy local activities without traveling far has brought much-needed relief to many people and families during uncertain and stressful times.
GetMyBoat launched in 2013 in San Francisco 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.
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