Latest news with #BoatsGroup
Yahoo
12 hours ago
- Business
- Yahoo
Twin Vee PowerCats Launches Next Gen BoatsForSale.com Marketplace for Buyers and Sellers
Faster Deals, Lower Costs, Bigger Market Reach FORT PIERCE, FL / / August 19, 2025 / Twin Vee PowerCats Co. (Nasdaq:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced the launch of its fully enhanced platform, delivering a top-tier online experience for boat buyers, private sellers, and dealers. Since acquiring the technology in February, Twin Vee has executed a targeted plan to elevate the platform to meet and exceed the performance and customer experience expectations of the other popular websites in the recreational marine industry. Focusing on key priorities, the Twin Vee team believes that it has transformed into a serious competitor in the boat listing marketplace. At the forefront of these upgrades is an AI-driven natural language search engine that replaces outdated, rigid search filters. Buyers can now find boats using intuitive phrases such as "fishing boats in Ft. Lauderdale" or "pontoon boats under $200,000 near me", delivering a dramatically improved search experience. "We believe that no other boat listing competitor comes close to this functionality," said Joseph Visconti, President and CEO of Twin Vee. "By focusing on the buyer's experience with natural language search, we're creating better results for our boat buyers. And that translates into happy private sellers and dealers." SEO optimization has also been a top priority. With advanced indexing, tagging, and strategic enhancements, has increased organic search traffic by 67% and improved Florida search rankings by over 400% in just months. "Increasing by these percentages, in such a short time, shows the focus and strength of our team, and we've only just begun," said Tom Huffman, the Company's Chief Information Officer and head of Twin Vee's Digital Division. "We fully expect to be side-by-side in organic search with our main competitor, Boats Group." Other advancements include: Dealer Insights & Inventory Management: A modern and polished dashboard providing unprecedented visibility into leads and seller inventory performance. AI-Driven Listing Automation: Photo-based transformations auto-generate complete listings, including standards, features, and SEO-tagged descriptions, ensuring consistency and maximizing visibility in organic search results. According to Huffman, these initiatives save sellers significant time, create professional-grade listings, and increase the likelihood of converting leads into sales. "We've executed our top priorities in short order and are now poised to provide superior results for our customers," added Visconti. "We're proud of our progress and look forward to announcing more innovations as we continue to disrupt and improve the marine industry." About Twin Vee PowerCats Co. Twin Vee PowerCats Co. manufactures a range of boats designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, fuel-efficient, and smooth-riding catamaran hull designs. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the "Best Riding Boats on the Water™." The Company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years. Learn more at Visit Twin Vee PowerCats Co. on Facebook, Instagram, and YouTube. About has been launched as a revolutionary online marketplace designed to connect boat buyers and sellers in a seamless, cost-effective manner. With a commitment to lowering dealer marketing costs while increasing lead generation, aims to transform the way boats are bought and sold online. The platform provides dealers with enhanced visibility, powerful sales tools, and an intuitive interface to ensure an optimal experience for both sellers and buyers. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the Company's beliefs as to the future competitive advantages that the new platform will give us. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others changes and developments in the technology of our competitors, as well as those contained in the risk factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, the Company's Quarterly Reports on Form 10-Q, the Company's Current Reports on Form 8-K and subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law. Contact: Glenn Sonodainvestor@ SOURCE: Twin Vee PowerCats Co. 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Business Insider
a day ago
- Business
- Business Insider
Boat Trader and YachtWorld owner has a chokehold on the US marine vessel market, an antitrust lawsuit alleges
A Miami boat brokerage alleges yacht buyers are being boxed in and priced up. In a new lawsuit, it accuses the Miami-based owner behind some of the leading online platforms for buying and selling boats and yachts of holding an illegal monopoly in the US marine vessel market. The proposed class action antitrust lawsuit, filed in a Florida federal court late last week by the local boat brokerage, alleges that Boats Group has engaged in strong-arm tactics to choke competition and has used its market power to jack up prices on brokers and dealers. Boats Group, which operates the platforms Boat Trader, YachtWorld, and "has willfully maintained and expanded its monopoly power through exclusionary practices rather than competition on the merits," the lawsuit alleges. "This conduct has enabled Boats Group to preserve its monopoly power not through superior products or services, but through exclusionary tactics that suppress competition, reduce entry and innovation, and harm sellers and consumers," the lawsuit says. Representatives for Boats Group did not immediately respond to a request for comment on Monday from Business Insider. Permira, the global private equity firm that owns Boats Group, declined to comment. (Permira is not named as a defendant in the lawsuit). The lawsuit, filed by Brill Maritime Inc., which does business as Export Yacht Sales, seeks to "restore competitive conditions" in the boat market and recover damages for any US individuals or businesses allegedly harmed as a result of Boat Group's "anticompetitive conduct." The proposed class is estimated to be thousands of members, the lawsuit says. The lawsuit says that Boats Group publicly claims to control about 75% of the global market for online marine vessel listing and marketing services and that its share of the US market is believed to be similarly high. The company's website says its platforms attract more than 65 million annual visitors, "giving sellers unmatched exposure to serious boat buyers." Boats Group's subscription agreements with sellers, the lawsuit says, "contain exclusive dealing provisions that either prohibit or strongly discourage sellers, particularly brokers and dealers, from listing their inventory on competing platforms." Through subscriptions, boat sellers pay Boats Group to have their vessel inventory listed and marketed to a large swath of prospective buyers, the lawsuit says. Export Yacht Sales says in the lawsuit that it purchases these subscriptions with Boats Group and that it has been forced to pay "supracompetitive prices for essential marketing services, with effectively zero viable alternatives available." The Miami brokerage says in the lawsuit that its combined monthly cost of listing on Boat Trader and YachtWorld skyrocketed by more than 400% between 2014 and 2024, jumping from $1,004 to $5,128. The plaintiff was charged $2,900 a month by Boat Trader alone in 2025, the lawsuit adds. "Boats Group's exclusionary behavior has suppressed competition, harmed sellers and brokerages, and distorted the structure and dynamics of the online boat sales marketplace," the lawsuit says. As a result, the lawsuit says, consumers are met with fewer options and higher prices for their boating needs. "This dominance has enabled Boats Group's predatory conduct to persist over time, allowing it to impose supracompetitive prices for subscription-based listing and marketing services without losing significant business to rivals, restrict sellers' ability to switch to alternative services, and foreclose entry and expansion by rival platforms," the lawsuit alleges. Attorneys for Export Yacht Sales told Business Insider in a statement that the lawsuit "highlights the severe impact that Boats Group's anticompetitive conduct has had on this industry." "By monopolizing the market for online boat listing services, Boats Group has been able to impose steep and sustained price increases, forcing brokers to pay inflated subscription fees without viable alternatives," the lawyers said.
Reuters
4 days ago
- Business
- Reuters
US boat dealers bring antitrust class action against Boat Trader, boats.com
Aug 15 (Reuters) - Boats Group, owned by European private equity firm Permira, has been sued in federal court in Miami for allegedly stifling competition in the market for boat sales listing and marketing, forcing prices up and leaving buyers with fewer choices. Boats Group, which controls the Boat Trader, YachtWorld and platforms, is violating antitrust law through subscription agreements that bar or discourage other brokers and dealers from listing boats on rival platforms, according to the proposed class action, opens new tab filed on Thursday. Plaintiff Brill Maritime, which does business as Export Yacht Sales, said Boats Group claims to control 75% of the market for platforms that brokers use to list and market recreational boats. Competing boat listing platforms have been unable to gain the scale and inventory to grow their services, according to Export Yacht Sales. Boats Group did not immediately respond to a request for comment. Permira, which is not a defendant, declined to comment. Lawyers for Export Yacht Sales in a statement on Friday said that by 'monopolizing the market for online boat listing services, Boats Group has been able to impose steep and sustained price increases, forcing brokers to pay inflated subscription fees without viable alternatives.' The lawsuit seeks to restore competition and collect damages for losses allegedly suffered by a proposed class of at least thousands of brokers and dealers. It said Boat Trader, YachtWorld and are essential advertising and lead-generation tools for boat brokerages, dealers and other sellers, and their services are not 'reasonably interchangeable' with general advertising or listing platforms. The case is Brill Maritime Inc d/b/a Export Yacht Sales v. Boats Group LLC, U.S. District Court, Southern District of Florida, No. 1:25-cv-23663-RKA. For plaintiff: Timothy Kolaya of Stumphauzer Kolaya Nadler & Sloman; and Kerry Miller of Fishman Haygood For defendant: No appearance yet Read more: US yacht brokers defeat antitrust lawsuit over commission fees
Yahoo
11-06-2025
- Business
- Yahoo
Boats Group Launches AI-Powered Listing Builder to Help Dealers and Brokers Save Time and Create Smarter Listings
MIAMI, June 11, 2025 /PRNewswire/ -- Boats Group, the tech company behind the marine industry's leading digital marketplaces—including YachtWorld, Boat Trader, and announced the launch of its new AI-Powered Listing Builder. This innovative tool is designed to help dealers, brokers, and OEMs streamline the listing process and publish optimized, professional descriptions in a fraction of the time. As AI continues to gain momentum across industries, Boats Group is taking a deliberate, practical approach, focused on building tools that solve real-world problems. Unlike companies simply racing to market with AI-labeled features, Boats Group's focus is not on automation for its own sake, but on building smarter, more intuitive digital experiences that help customers succeed. The AI Listing Builder was developed in close collaboration with customers to ensure it meets the needs of professionals who rely on accurate, engaging listings to drive inquiries and sales. "There's a lot of noise right now around AI, but not all tools are created with the end user in mind," said Mike Grabowski, Chief Product Officer at Boats Group. "We believe AI should enhance—not replace—the relationships we've built with our customers. Listing Builder reflects that thinking. It helps our partners work more efficiently while maintaining the quality buyers expect." Now available across Boats Group's marketplaces, the AI Listing Builder uses structured boat data to generate clear, consistent, and SEO-friendly listing descriptions, reducing the time spent on writing and editing by up to 70%. The tool ensures that each listing highlights the right details, improving both discoverability and the user experience for online shoppers. "Creating a great listing used to be a time-consuming task," said John Barrile, Chief Technology Officer at Boats Group. "AI Listing Builder gets our customers from draft to publish faster, with content that performs better and requires fewer edits." The release of AI Listing Builder is part of a broader AI strategy at Boats Group, one focused on building smart, user-friendly tools that reflect how boats are actually sold online. By leveraging its industry-leading volume of inventory, search data, and user behavior insights, Boats Group is uniquely positioned to develop AI features that provide immediate value. "We're not experimenting—we're investing in proven AI that works," said Grabowski. "We're committed to building more of these intelligent tools, with even more features coming soon." For more information about AI Listing Builder and Boats Group's investment in AI, visit About Boats Group Boats Group operates the world's most trusted and widely used online marketplaces for buying and selling boats, including Boat Trader, YachtWorld, and For over 30 years, Boats Group has led the marine industry's transformation, consistently setting the standard for how boats are discovered, marketed, and sold online. Today, the company reaches more than 200 million boat shoppers annually and is powering the next generation of recreational boating commerce with AI-enabled tools, data-driven marketing solutions, financing services, and actionable insights. Backed by the largest inventory and audience in the industry, Boats Group helps OEMs, dealers, and brokers grow their business and connect with buyers more efficiently than any other source. Media Contact: Courtney ChalmersVP of Marketing, Boats GroupEmail: press@ 1-877-354-4069 View original content to download multimedia: SOURCE Boats Group, LLC
Associated Press
04-06-2025
- Business
- Associated Press
Boats Group Debuts Internal AI Customer Support Agent to Deliver Faster, More Consistent Help for Dealers and YachtCloser Users
MIAMI, June 4, 2025 /PRNewswire/ -- Boats Group today announced the launch of its new Customer Support Agent, an internal AI-powered tool that helps the company's account management and support teams deliver faster, more consistent assistance to dealers, brokers, and OEMs across its marketplaces—including YachtWorld, Boat Trader, and transaction platform YachtCloser. The AI Customer Support Agent provides Boats Group employees with instant, step-by-step instructions—complete with screenshots—for the most frequently asked customer questions. This includes everything from managing inventory listings to navigating reporting dashboards and using YachtCloser. 'Our goal is to be more responsive without sacrificing quality,' said John Barrile, Chief Technology Officer at Boats Group. 'AI Customer Support Agent doesn't replace the personal touch—it reinforces it by giving our team better tools to deliver clear, reliable help.' Designed specifically to support human agents, the AI Customer Support Agent is not a chatbot or automated responder. Instead, it enhances the team's ability to assist customers quickly and accurately, particularly when solving repetitive or technical tasks. The result is a more efficient, more dependable support experience for Boats Group clients, without losing the relationship-first approach the company is known for. This launch is part of a broader AI strategy focused on real-world usefulness over buzzword adoption. By developing tools in collaboration with beta users and frontline support teams, Boats Group ensures each AI feature is built for the practical workflows of the marine industry. 'While many companies are racing to launch AI features, we're focused on building the ones that truly help our customers succeed,' said Mike Grabowski, Chief Product Officer at Boats Group. 'AI Customer Support Agent is the kind of tool that doesn't just save time—it improves the overall experience.' Boats Group's investment in AI is centered around enabling its team and partners to work smarter, not replacing people. With more AI-driven features planned in 2025 and beyond, Boats Group remains committed to developing tools that support both human expertise and customer expectations. For more information about AI Customer Support Agent and Boats Group's approach to AI, visit About Boats Group Boats Group operates the world's most trusted and widely used online marketplaces for buying and selling boats, including Boat Trader, YachtWorld, and For over 30 years, Boats Group has led the marine industry's transformation, consistently setting the standard for how boats are discovered, marketed, and sold online. Today, the company reaches more than 200 million boat shoppers annually and is powering the next generation of recreational boating commerce with AI-enabled tools, data-driven marketing solutions, financing services, and actionable insights. Backed by the largest inventory and audience in the industry, Boats Group helps OEMs, dealers, and brokers grow their business and connect with buyers more efficiently than any other source. Media Contact: Courtney Chalmers VP of Marketing, Boats Group Email: [email protected] Phone: 1-877-354-4069 View original content to download multimedia: SOURCE Boats Group, LLC
