BTIM - Boatim Inc. announces the launch of Smart Connected Inventory for boat dealers as worldwide demand for boats and yachts continues to grow
MIAMI, Aug. 31, 2020 /PRNewswire/ -- Boatim Inc.
Boatim Inc (OTCQB: BTIM), a global marketplace and online community for buying and selling boats and yachts, announces today the launch of their Smart Connected Inventory. The company's latest product as part of its vision to build the next generation of digital maritime marketplaces. This first product in a line of upcoming innovations will help dealers and brokers to manage and market their inventory more easily and sell their boats faster.
Smart Connected Inventory allows boat sellers to onboard all their listings from multiple sources on the newly launched boatim.com platform. Boatim's focus on data-driven and user-centered solutions take the pain out of bringing large boat inventories online and distributing them on their digital marketing channels.
"We have reached a milestone in our journey of digitization and innovation in the maritime industry, by putting our customers first and solving one of their biggest blockers to leveraging digital marketing channels. Uploading and maintaining all your listings is a time-suck. Our Smart Connected Inventory is an easy way to get around that and focus on marketing your inventory," says Co-founder and Chief Marketing Officer, Patrick Burkert. Followed by Chris Roy, Chief Product Officer: "Given the fact that many dealers and brokers struggle to manage and maintain a suite of marketplaces and tools just to sell their inventory—it's clear that our vision of using the latest technology to streamline these processes solves a real need. Smart Connected Inventory is just the beginning."
With new dealers like Yachtside in Monaco being one of the first clients using Smart Connected Inventory, Boatim is building traction in Europe and the United States by looking for new and better ways to keep up with the increased demand from boat buyers around the world. "The short-notice cancellation of the Cannes Yachting Festival meant that dealers and brokers were unable to connect in the traditional way," says Matthew Grady, Head of Sales at Boatim. "We have adapted to this current environment and moved everything we could into digital. Meaning that manufacturers, dealers, buyers, and sellers are able to connect with us and each other over our platform online," adds Grady.
Boatim's strength is its ability to react quickly in ever-changing circumstances and stay ahead of evolving customer needs, this approach will effectively solve problems within the industry for boat sellers. "Recreational boating defies the pandemic crisis according to latest market reports, as we see a tremendous change in consumer behavior that shifts to local and near-home activities," shares Burkert, resulting in an increase of demand for boats and yachts in the US and Europe—and a compound annual growth rate of almost 4% during the forecast post-COVID period.
While other industries are struggling, the boating industry is experiencing an all-time high—an all-around boating boom. So much so, dealers in the US are reporting inventory shortages and difficulties meeting demand, according to the New York Times. This is validating market signs for Boatim's approach and ambitious roadmap, as they continue to grow with more investments and talent joining the Miami and Barcelona headquartered tech-company.
About Boatim Inc.
Boatim Inc. (OTCQB: BTIM) is a globally operating online marketplace and special interest social network for both the boating industry and boat users.
Boatim was founded in 2014 and now employs 21 people in Miami (USA) and Barcelona (Spain). The technology startup provides industry-specific software, aimed at facilitating the process of buying and selling boats online.
On boatim.com the boating industry can sell and promote products and connect with a fast-growing potential customer base, while boat users can explore and buy boats, connect with like-minded and brands. The platform that can be accessed through mobile devices and desktop, generates revenues through listing placements and subscription plans, as well as on-platform ads. Thanks to the great business model scalability, more revenue streams are planned to be added soon.
Since August 2019 the privately funded startup has become a publicly listed entity, trading at the OTCQB Venture Market under the trading symbol BTIM.
https://boatim.com/investor-relations
Forward Looking Statements
This press release contains forward-looking statements regarding our future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on mobile operating systems, networks, and standards that we do not control; risks associated with new product development and their introduction as well as other new business initiatives; our emphasis on user growth and engagement and the user experience over short-term financial results; competition; litigation; privacy and regulatory concerns; risks associated with acquisitions; security breaches; and our ability to manage growth and geographically-dispersed operations. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K filed with the SEC on July 16, 2020, which is available via the SEC website at www.sec.gov. Additional information has also been set forth in our Annual Report on Form 10-K for the year ended August 31, 2019. In addition, please note that the date of this press release is June 15, 2020, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
SOURCE Boatim Inc.