GetMyBoat, the world’s largest marketplace for boat rentals and water experiences, registered record demand during the summer of 2020.
GetMyBoat grew by 3,900% from April to July, with a surge in demand leading to a rental booking confirmation every few minutes. The company also reported an ARR (annual run rate) of over $80 million. All this was achieved despite only 60% of recreational boating markets being open, with many popular global destinations closed to travel and recreation.
“When the lockdown order was put in place in spring (here in the US), our activity reached an all-time low. In May, however, we saw a huge rebound in business, and in July we were up 3,900% from our April lows,” said Bryan Petro, Chief Operating Officer (COO) of GetMyBoat. “We had already had a very successful year due to the platform’s maturity, including being featured as Apple’s App of the Day, but these results exceeded all expectations.”
Contributing to this growth is the decline in travel on a global scale, resulting in demand for local experiences. Experiences such as rowing and jet-ski rental have boomed in popularity. The ability to enjoy local activities without travelling far has brought many people and families the necessary relief in uncertain and stressful times.